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Discovery Inc. saw second quarter U.S. ad revenue dip 14% on lower demand stemming from COVID-19 but its portfolio of networks gained share in primetime with TLC delivering its best quarter ever, the company said Wednesday. The dip in the U.S. was also due in part to secular declines in the pay TV ecosystem and lower…

Walt Disney’s chief executive and its CFO said the dramatic spike in Florida COVID-19 infections last month right when Walt Disney World reopened have resulted in higher cancellations at the park than they'd first anticipated  – and their expectations weren’t all that high to begin with. CEO Bob Chapek and chief…

Fox Corp. on Tuesday reported total sales of $2.42 billion last quarter, in line with expectations, down slightly (4%) from a year ago but off $1 billion from the previous three months as COVID-19 hit advertising. The company that owns Fox News, Fox Sports, Fox Entertainment and the Fox Television Stations had warned…

Walt Disney said revenue last quarter was $11.87 billion, lower than expected and down 42% from the year before with the theme park division taking a $3.5 billion hit. But diluted earnings per share (EPS) after items came in at $0.08, down from $1.34 the year before but still in positive territory. It beating Wall…

UPDATED with latest total: Disney CEO Bob Chapek said Tuesday during the company’s earnings call that there are now 60.5 million global subscribers to Disney+, the direct-to-consumer streaming service launched last November. He also said today that Mulan, long in limbo amid the COVID-19 pandemic, will debut September…

The CEO of the nation's fourth-largest exhibitor warned studios not to "leave a good party in pursuit of a better one," but called the debate over Premium VOD overblown. Greg Marcus, chief of Marcus, said Tuesday that consumers are likely to drift away from watching video-on-demand releases when things normalize…

AMC Networks said it plans to restart production on the second half of Season 6 of Fear the Walking Dead in Texas in late August, on new series Kevin Can F*** Himself in Boston at the end of September, and on Season 11 of The Walking Dead in Georgia in October. "Our ability to resume in the safest possible way is…

Executives at Cinemark, the No. 3 U.S. exhibitor, believe they have sufficient cash to last “well into 2021” even if theaters remain closed due to COVID-19. The forecast came during an earnings call with Wall Street analysts Tuesday to discuss second-quarter numbers. Earlier in the morning, company reported…

AMC Networks' net income plunged to $15 million, or $0.28 a share for the second quarter, versus $129 million or $2.25 the year before, hit by hefty write downs for $130 million. Revenue dipped 16.3% to $646 million on softer advertising – down 18% in the U.S. and 10% abroad. But the numbers beat Wall Street’s…

Cinemark reported financial results for the second quarter that revealed the massive toll of COVID-19, with $9 million in total revenue and a loss of $1.45 per share. Those figures managed to exceed Wall Street’s conservative estimates for the desolate April-to-June period, however. The No. 3 U.S. exhibitor also said…

Despite the impact of the coronavirus pandemic, Sony Pictures Entertainment continued an upward trend in first quarter results with a $230M profit for the three months ending June 30, 2020. That compares to a $3.7M profit in the same quarter of 2019 and a $68M loss the previous year. While Sony Corp last quarter…

National CineMedia isn't a movie chain but it's the nation's largest cinema advertising network and it saw revenue plunge by more than 96% last quarter as theaters were shuttered for the entire period, a steep dip that's likely to be repeated as exhibitors report earnings starting tomorrow with Cinemark and Marcus. AMC…