03 Feb The High Cost of Chasing Netflix [The Hollywood Reporter]
February 3, 2021 | NBCU’s Peacock and WarnerMedia’s HBO Max are touting notable subscriber gains but also forecasting billions in investment charges to establish a streaming presence.
After two months of fielding criticism from some of Hollywood’s top filmmakers, WarnerMedia executives finally had something to crow about when AT&T CEO John Stankey revealed Jan. 27 that the much-maligned plan to release its films in theaters and on HBO Max had helped to double the streamer’s audience to 17.2 million active users. But the good news came with a caveat: $520 million in losses due to the ongoing shutdown of many theaters and subsequent hybrid release plan for the 2021 Warner Bros. film slate.
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