Warner Bros Discovery loss bigger than expected as Hollywood strikes dry up content pipeline

Warner Bros Discovery reported a bigger-than-expected quarterly loss on Friday, as the media conglomerate battled the fallout of the twin Hollywood strikes on content generation and a weak advertising market.

Studios are still facing delays in the release of new content, especially given the lengthy post-production process, even though the strikes by writers and actors ended in September and November, respectively.

The company, forged by the union of WarnerMedia and Discovery, reported overall fourth-quarter revenue of $10.28 billion, missing analysts’ average estimate of $10.35 billion, according to LSEG data.