Entertainment giant Warner Bros. is still losing money, despite the rampant success of both Hogwarts Legacy and HBO’s The Last of Us. Both properties have quickly become hot topics in the mainstream, but they aren’t enough to push WB into profit.
According to TechCrunch, Warner Bros. revealed that they have a net loss of $2.1 billion, $217 million of which comes from the company’s streaming ventures. This is despite all of the money that Hogwarts Legacy has brought in as well as The Last of Us bringing millions to HBO Max.
Hogwarts Legacy has already made $850 million, despite only being out for two weeks, and there are already talks of expanding the property into a franchise. Furthermore, the video game has yet to release on last-gen systems meaning that a second wind is likely on the way.
Meanwhile, The Last of Us has managed to garner a staggering 15 million viewers so far. At the time of writing, two more episodes have yet to release. A sequel series based on The Last of Us Part 2 is in the works.
It seems most of the losses on Warner Bros. side come from their streaming services. After estimating an additional 1.6 million subscribers to HBO Max, only 1.1 million customers actually signed up.
On the bright side, the Warner Bros. merger with Discovery has finally finished, hopefully leading to less firings and cancelations. During the merger, fans witnessed a number of fan-favorite shows being removed from HBO Max. Frustratingly, some animated shows also had their YouTube material removed, in addition to getting cut from the streaming service.
Now that Warner Bros. seemingly has everything under control, things should get better. The company is probably hoping that Suicide Squad: Kill the Justice League and Mortal Kombat 12 break records. Hogwarts Legacy is also expected to come out on last-gen systems like the Switch, which should sell really well.
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Hogwarts Legacy is readily available on PS5, Xbox Series, and PC if you don’t mind supporting a transphobic author. The Last of Us is currently showing on HBO and HBO Max, while the game it’s based on is currently available on PS5 and PS4.