Suicide Squad Cost Warner Bros. $200 Million In Revenue
Suicide Squad Cost Warner Bros. $200 Million In Revenue
During its Q1 2024 earnings call, Warner Bros. said that Suicide Squad: Kill the Justice League cost the company $200 million in revenue
“Starting with Studios, the $400 million+ year-over-year decline during Q1 was primarily due to the very tough comp we faced in games against the success of Hogwart’s Legacy last year in the first quarter, in conjunction with the disappointing Suicide Squad release this past quarter, which we impaired, leading to a $200 million impact to EBITDA (earnings before interest, taxes, depreciation, and amortisation) during the first quarter,” CFO Gunnar Wiedenfels said during the investor call after the report was published.
This doesn't line up at all with what Insider Gaming wrote. I don't think they know how to interpret company financials.
Costing revenue itself is a questionable phrase. A game can miss its revenue target, but that's not the same thing. Here it looks like earnings were lower by $200M due in part to more than $400M lower revenue comparing to a Q1 2023, which had the Hogwarts Legacy release.
Good demonstration of the current quality of journalism. “Cost X in revenue” doesn’t make any sense, as cost and revenue are the exact opposite things, the difference of which (if I simplify) make up the EBITDA that the quote from the company actually referenced for the 200 M USD negative impact.
I’m not expecting a game journalist be an ACCA certified accountant, but should be at least able to write an accurate title based on the available quotes and information.
Something something reap what you sow
Yeah, they really went in hard with Suicide Squad, to be perfectly frank, the only good thing to come out of suicide squad was the Peacemaker show on HBO.
And Barbie. What a spin-off !
Yeah. Sucks they aren’t even planning on starting production on season 2 till 2025
If only every live service game and technology suffered the same fate. Also p2w.
So far.
Lesson learned: there can be no good Suicide Squad title unless prefixed by "The".
And what's 200M to Warner Bros? Nothing
WBD brought in David Zaslav to get rid of their massive debt. I’m guessing Suicide Squad wasn’t a loss they could easily shrug off. But it’s ok, Zaslav will make up for it with more horrible cheap reality programming across all of their TV channels.
Sidenote on the quality of journalism, but “cost X in revenue” doesn’t make any sense, as cost and revenue are the exact opposite things, the difference of which (if I simplify) make up the EBITDA that the quote from the company actually referenced for the 200 M USD negative impact.
I’m not expecting a game journalist be an ACCA certified accountant, but should be at least able to write an accurate title based on the available quotes and information.
Womp womp.
They were getting $400 million+ year-over-year, and now, for only the first quarter of 2024, they got only $200 million year-over-year 🤔. Damn, times sure are tough for the rich these days.
That's the way business go
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