Streaming Profit Report: A Year Spent Chasing Netflix [The Hollywood Reporter]

Streaming Profit Report: A Year Spent Chasing Netflix [The Hollywood Reporter]

BY GEORG SZALAI

April 8, 2024 | Several years into Hollywood giants’ streaming pushes, they still find themselves confronted with that famous Jerry Maguire line from Wall Street: “Show me the money!” In the case of streaming, “the money” means profits.

With Netflix having been crowned by some observers as the king of streaming, Hollywood CEOs have focused on making their streaming business units profitable after an initial focus on subscriber growth.

The full year of 2023 provided some positives for sector watchers. One entertainment titan ended up eking out a small profit for its streaming unit, while two others narrowed their losses in their divisions with their core streaming businesses, with one of those promising to start turning black ink this year. And another sector biggie made clear that 2023 marked its year of peak losses in streaming.

But Hollywood conglomerates’ streaming results still make for a sharp contrast with Netflix’s continued growth in its annual bottom line. And entertainment biggies remain in the stage of proving that they can make money in streaming and, importantly, get to sustainable profitability.

Read more on The Hollywood Reporter.

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