Following the official announcement of the closure of Player First Games, WB Games San Diego, and Monolith Productions, as well as the cancellation of Monolith’s open-world action game Wonder Woman, Warner Bros. Discovery has released its official Q4 and Full-Year 2024 financial report, detailing the negative impact last year’s releases had on the company’s bottom line.
Rocksteady
According to the report, the company’s gaming division lost Warner Bros. $50 million in Q4 and $384 million over the entire year. Although it hasn’t been explicitly revealed in the statement, it can be assumed that the main reasons for the loss are the shutdown of PFG’s multi-year project MultiVersus and Rocksteady’s Suicide Squad: Kill the Justice League, a game that reportedly cost its creators $200 million.
Despite efforts to mitigate the losses by cutting game content expenses by 20%, WB’s gaming revenue still dropped by 29%. The company attributed this decline to the inability of this year’s releases to match the revenue generated by Hogwarts Legacy and Mortal Kombat 1 in the same quarter of the previous year. Thanks to WB’s merging of games, TV content, and theatrical releases into one revenue category, the Studios segment’s total revenue in 2024 amounted to $11.6 billion, down just 5% year-on-year from 2023’s $12.1 billion.
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