Warner Bros. Financials Stay Solid Despite Lower Game Sales
Time Warner released their yearly financial documents for 2016, and it turns out that Warner Bros. had a solid 2016 for the company. Revenue for the entertainment arm of Time Warner came in at $13 billion, which was considered “essentially flat” by the company. While movies and television did well for the company in 2016, the lack of growth was directed at declining video game revenues and “the impact of foreign exchange rates.”
The fact that video game revenue was down for the company isn’t surprising as the company had two of 2015’s biggest releases: Batman: Arkham Knight and Mortal Kombat X. While Warner Bros. put out games in 2016, including Batman: Arkham VR and LEGO Star Wars: The Force Awakens, they simply didn’t have the heavy hitters that they had previously. Gaming is only a small part of Warner Bros., however, and the medium was only mentioned three times in the report.
Time Warner will be looking to turn things around in 2017, as the company has a number of projects already announced. NetherRealm Studios is working on Injustice 2, several LEGO titles are on the way (including a port of LEGO City Undercover), and a new Batman title is reportedly under development. If all of these titles come to fruition (and who knows what other surprises may be in store) then 2017 could very well be the company’s biggest year yet for video games.
Let us know in the comments below if you enjoyed the company’s output in 2016, and if you’re looking forward to any of their upcoming releases.