Mansha Daswani

The Walt Disney Company reported improved revenues in the second quarter and a narrowing of streaming losses, despite losing subscribers at Disney+.

Even as its direct-to-consumer segment swung to a profit in the first quarter, Warner Bros. Discovery reported a Q1 loss of $1.1 billion, citing acquisition-related amortization costs and restructuring expenses, on revenues that were down 5 percent to $10.7 billion.

Paramount Global swung to a loss in the first quarter amid higher expenses in its direct-to-consumer segment and a drop in ad revenues, while reporting a new subscriber milestone at Paramount+ and usage gains at Pluto TV.

First-quarter revenues at Comcast Corporation were down 4.3 percent to $29.7 billion, while net income was up by 8 percent to $3.8 billion.

Rising costs, the looming writers’ strike in the U.S., the general economic malaise and the booming opportunities in AVOD and FAST dominated conversations at MIPTV last week.

New data from Digital TV Research indicates that global AVOD revenues for TV series and movies will rise by $50 billion from 2022 to 2028 to reach $91 billion.

Amid fears of a global recession and escalating costs, leading distributors share how they are preparing for the new era in the streaming wars.

The 60th edition of MIPTV came to a close in Cannes today with attendance up 22 percent from last year’s edition to reach 5,650 delegates, RX France’s Lucy Smith told reporters this morning.

Netflix ended the first quarter of 2023 with 232.5 million subscribers, adding 1.75 million members in the period, a 4.9 percent gain.

Ruth Berry, managing director of ITV Studios’ global commercial division, addressed MIPTV delegates in a Media Mastermind keynote today in Cannes, outlining her new remit, trends in non-scripted entertainment, the acquisition of Plimsoll Productions and opportunities in the FAST segment.