Hollywood CEO Report Card: Who Flunked, Who Aced, and What's Next
Hollywood’s biggest entertainment companies are set to report second-quarter financials, setting the tone for what could be a tumultuous back half of the the year amid streaming uncertainties and a looming recession.
And the nation’s top studio chiefs barely made it through the first two quarters of the year.
Netflix upended Wall Street three months ago when it warned of massive subscriber losses that triggered industry-wide panic about the future of streaming strategies. The earnings shocker translated into stock sell-offs and analyst downgrades for major players like Disney, Warner Bros. Discovery and Paramount.
The chief executives running major film and television studios also faced deteriorating economic conditions during the first half as the nation inches toward an inflation-induced recession. There’s already been some indication that advertising has begun to dry up and more belt-tightening by streaming subscribers unwilling to pay for multiple services.