There’s excellent news and unhealthy information for Big Entertainment at the moment. Firstly, the actors strike is over, which implies movie and TV manufacturing can lastly resume. Yippee! Second, the September-quarter outcomes out Wednesday from Disney and Warner Bros. Discovery confirmed each are getting streaming losses underneath management. (In WBD’s case, it’s creating wealth!). The unhealthy information for the business although is that tv promoting is in free fall. 

But as CEOs love to do, Disney’s Bob Iger and WBD’s David Zaslav emphasised the optimistic. On separate calls with analysts—earlier than the strike information—each talked about all of the work they’d accomplished over the previous yr overhauling and reducing prices, and the way they’re now capable of pivot to enlargement. Iger known as it transferring from “a period of fixing to a new era of building,” whereas Zaslav talked about WBD having the possibility to “fight to grow in the next year.” Still, the general image for the 2 corporations stays bleak. WBD eked out top-line progress of simply 1%, whereas Disney’s leisure companies did solely marginally higher with a rise of 1.8%, each due largely to cost will increase on streaming. Revenue from the old-school TV enterprise, their largest supply of earnings, declined for each, reflecting continued wire reducing and the promoting hunch.