Warner Bros Discovery Misses Revenue Estimates on Box Office Weakness 

The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)
The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)
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Warner Bros Discovery Misses Revenue Estimates on Box Office Weakness 

The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)
The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)

Warner Bros Discovery missed first-quarter revenue estimates on Thursday, weighed down by a lack of big box office hits from its studio and weakness in its traditional TV business as consumers continued to abandon cable for streaming.

Like others in the media business, Warner Bros Discovery is losing thousands of cable TV subscribers each year, putting pressure on the company to consistently produce hit content and boost profitability in its streaming business.

The threat of US tariffs on foreign-made films has also added to the headaches of an industry whose biggest-budget films are often produced across several continents.

WBD struggled in the January-March quarter to replicate the success of last year's "Dune: Part Two," which grossed more than $700 million. The company's marquee release for the period, Bong Joon Ho's sci-fi dark comedy "Mickey 17," earned only slightly more than its reported budget at the box office.

That meant studios revenue fell 18% to $2.31 billion, missing estimates of $2.73 billion, according to Visible Alpha.

The company has, however, made a strong start to the second quarter with Ryan Coogler's horror film "Sinners" and the blockbuster "A Minecraft Movie," which has raked in nearly $900 million globally, making it the biggest release of 2025 so far. Its summer lineup also looks strong with "Superman," directed by Marvel's long-time hitmaker James Gunn, set to release in July.

Revenue at the TV networks segment, which includes CNN, Discovery Channel and Animal Planet, fell 7%.

Overall, revenue fell 10% in the first three months of 2025 to $8.98 billion, missing analysts' average estimate of $9.60 billion, according to data compiled by LSEG.



Movie Review: From Bumper to Bumper, ‘F1’ Is Formula One Spectacle 

Brad Pitt, from left, Lewis Hamilton, and Damson Idris attend the world premiere of "F1 The Movie" on Monday, June 16, 2025, in Times Square in New York. (Photo by Evan Agostini/Invision/AP)
Brad Pitt, from left, Lewis Hamilton, and Damson Idris attend the world premiere of "F1 The Movie" on Monday, June 16, 2025, in Times Square in New York. (Photo by Evan Agostini/Invision/AP)
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Movie Review: From Bumper to Bumper, ‘F1’ Is Formula One Spectacle 

Brad Pitt, from left, Lewis Hamilton, and Damson Idris attend the world premiere of "F1 The Movie" on Monday, June 16, 2025, in Times Square in New York. (Photo by Evan Agostini/Invision/AP)
Brad Pitt, from left, Lewis Hamilton, and Damson Idris attend the world premiere of "F1 The Movie" on Monday, June 16, 2025, in Times Square in New York. (Photo by Evan Agostini/Invision/AP)

The wide-screen spectacle of Formula One gets a gleaming, rip-roaring workout in Joseph Kosinski’s “F1,” a fine-tuned machine of a movie that, in its most riveting racing scenes, approaches a kind of high-speed splendor.

Kosinski, who last endeavored to put moviegoers in the seat of a fighter jet in “Top Gun: Maverick,” has moved to the open cockpits of Formula One with much the same affection, if not outright need, for speed. A lot of the same team is back. Jerry Bruckheimer produces. Ehren Kruger, a co-writer on “Maverick,” takes sole credit here. Hans Zimmer, a co-composer previously, supplies the thumping score.

And, again, our central figure is an older, high-flying cowboy plucked down in an ultramodern, gas-guzzling conveyance to teach a younger generation about old-school ingenuity and, maybe, the enduring appeal of denim.

But whereas Tom Cruise is a particularly forward-moving action star, Brad Pitt, who stars as the driving-addicted Sonny Hayes in “F1,” has always been a more arrestingly poised presence. Think of the way he so calmly and half-interestedly faces off with Bruce Lee in Quentin Tarantino’s “Once Upon a Time ... in Hollywood.” In the opening scene of “F1,” he’s sleeping in a van with headphones on when someone rouses him. He splashes some water on his face and walks a few steps over to the Daytona oval, where he quickly enters his team’s car, in the midst of a 24-hour race. Pitt goes from zero to 180 mph in a minute.

Sonny, a long-ago phenom who crashed out of Formula One decades earlier and has since been racing any vehicle, even a taxi, he can get behind the wheel of, is approached by an old friend, Ruben Cervantes (Javier Bardem) about joining his flagging F1 team, APX. Sonny turns him down at first but, of course, he joins and “F1” is off to the races.

The title sequence, exquisitely timed to the syncopated rhythms of Zimmer’s score, is a blistering introduction. The hotshot rookie driver Noah Pearce (Damson Idris) is just running a practice lap, but Kosinski, his camera adeptly moving in and out of the cockpit, uses the moment to plunge us into the high-tech world of Formula One, where every inch of the car is connected to digital sensors monitored by a watchful team. Here, that includes technical director Kate McKenna (Kerry Condon) and Kaspar Molinski (Kim Bodnia), the team’s chief.

Verisimilitude is of obvious importance to the filmmakers, who bathe this very Formula One-authorized film in all the sleek operations and globe-trotting spectacle of the sport. That Apple, which produced the film, would even go for such a high-priced summer movie about Formula One is a testament to the upswing in popularity of a sport once quite niche in America, and of the halo effects of both the Netflix series “Formula 1: Drive to Survive” and the seven-time world champion Lewis Hamilton, an executive producer on “F1.”

Whether “F1” pleases diehards, I’ll leave to more ardent followers of the circuit. But what I can say definitively is that Claudio Miranda knows how to shoot it. The cinematographer, who has shot all of Kosinski’s films as well as wonders like Ang Lee’s “Life of Pi,” brings Formula One to vivid, visceral life. When “F1” heads to the big races, Miranda is always simultaneously capturing the zooming cars from the asphalt while backgrounding it with the sweeping spectacle of a course like the UK’s fabled Silverstone Circuit.

OK, you might be thinking, so the racing is good; is there a story? There’s what I’d call enough of one, though you might have to go to the photo finish to verify that. When Sonny shows up, and rapidly turns one practice vehicle into toast, it’s clear that he’s going to be an agent of chaos at APX, a low-ranking team that’s in heavy debt and struggling to find a car that performs.

This gives Pitt a fine opportunity to flash his charisma, playing Sonny as an obsessive who refuses any trophy and has no real interest in money, either. The flashier, media-ready Noah watches Sonny's arrival with skepticism, and the two begin more as rivals than teammates. Idris is up to the mano-a-mano challenge, but he’s limited by a role ultimately revolving around and reducing to a young Black man learning a lesson in work ethic.

A relationship does develop, but “F1” struggles to get its characters out of the starting blocks, keeping them closer to the cliches they start out as. The actor who, more than anyone, keeps the momentum going is Condon, playing an aerodynamics specialist whose connection with Pitt’s Sonny is immediate. Just as she did in between another pair of headstrong men in “The Banshees of Inisherin,” Condon is a rush of naturalism.

If there’s something preventing “F1” from hitting full speed, it’s its insistence on having its characters constantly voice Sonny’s motivations. The same holds true on the race course, where broadcast commentary narrates virtually every moment of the drama. That may be a necessity for a sport where the crucial strategies of hot tires and pit-stop timing aren't quite household concepts. But the best car race movies — from “Grand Prix” to “Senna” to “Ferrari” — know when to rely on nothing but the roar of an engine.

“F1” steers predictably to the finish line, cribbing here and there from sports dramas before it. (Tobias Menzies plays a board member with uncertain corporate goals.) When “F1” does, finally, quiet down, for one blissful moment, the movie, almost literally, soars. It's not quite enough to forget all the high-octane macho dramatics before it, but it's enough to glimpse another road “F1” might have taken.