Since the start of the COVID-19 pandemic, the entertainment industry, like many others, has been reeling to regain lost ground after the lockdown and work stoppages. 2023 showed a clear rebound, but not quite as robust as studios, or their parent companies would’ve liked. Along with that disruption, the mass adoption of streaming and historic strikes further complicated things. Ironically, in 2023, Star Trek had one of its biggest years in its nearly 60-year history, but bad news is on the horizon for the franchise if Paramount and Warner Bros. Discovery enter a merger. Perhaps there is no greater example of the disconnect between the industry’s expectations and reality than another studio’s failures.Disney-owned Marvel Studios had its first flop in 2023 with Ant-Man and the Wasp: Quantumania. In industry terms, a “flop” is any film that fails to earn back its production budget in ticket sales. With $476 million, Ant-Man 3 did not break even, especially when considering marketing costs. However, it’s also the tenth highest-grossing film worldwide for 2023. This was a year with no true winners, despite the outlier success of films like Super Mario Bros., Barbie and Oppenheimer. Studios like Paramount and Warner Bros. Discovery, however, fared even worse from cinematic and streaming losses. Thus, the idea that Warner Bros. Discovery CEO David Zaslav is looking to acquire Paramount makes sense, since his last big corporate success was the merger between Discovery and what was WarnerMedia.David Zaslav’s tenure is marred by fumbles, such as the cancelation of complete (or nearly complete) films and TV series simply to save money in taxes. Fairly or not, it lends to the perception that Warner Bros. Discovery is no longer a studio that values artistic pursuits, and is instead preoccupied with debt management and appeasing shareholders. Big movies with multi-hundred-million-dollar budgets have failed right and left, particularly in the superhero space. Threatening to shutter Turner Classic Movies and dumping “HBO” from the Max streaming service name have only added to this perception.
Since the start of the COVID-19 pandemic, the entertainment industry, like many others, has been reeling to regain lost ground after the lockdown and work stoppages. 2023 showed a clear rebound, but not quite as robust as studios, or their parent companies would’ve liked. Along with that disruption, the mass adoption of streaming and historic strikes further complicated things. Ironically, in 2023, Star Trek had one of its biggest years in its nearly 60-year history, but bad news is on the horizon for the franchise if Paramount and Warner Bros. Discovery enter a merger. Perhaps there is no greater example of the disconnect between the industry’s expectations and reality than another studio’s failures.
Disney-owned Marvel Studios had its first flop in 2023 with Ant-Man and the Wasp: Quantumania. In industry terms, a “flop” is any film that fails to earn back its production budget in ticket sales. With $476 million, Ant-Man 3 did not break even, especially when considering marketing costs. However, it’s also the tenth highest-grossing film worldwide for 2023. This was a year with no true winners, despite the outlier success of films like Super Mario Bros., Barbie and Oppenheimer. Studios like Paramount and Warner Bros. Discovery, however, fared even worse from cinematic and streaming losses. Thus, the idea that Warner Bros. Discovery CEO David Zaslav is looking to acquire Paramount makes sense, since his last big corporate success was the merger between Discovery and what was WarnerMedia.
David Zaslav’s tenure is marred by fumbles, such as the cancelation of complete (or nearly complete) films and TV series simply to save money in taxes. Fairly or not, it lends to the perception that Warner Bros. Discovery is no longer a studio that values artistic pursuits, and is instead preoccupied with debt management and appeasing shareholders. Big movies with multi-hundred-million-dollar budgets have failed right and left, particularly in the superhero space. Threatening to shutter Turner Classic Movies and dumping “HBO” from the Max streaming service name have only added to this perception.
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