Shares of Hollywood studio and streaming service Paramount Global fall
Paramount Global, one of the prominent Hollywood studios and streaming services, has experienced a significant decline in its shares. The company recorded its lowest level since April 2020. This drop is mainly attributed to the ongoing strikes in Hollywood, which have been affecting communications services companies.
Amazon to introduce advertisements on Prime Video platform
In response to mounting losses in the sector, Amazon has announced its intentions to incorporate advertisements into shows and movies on its Prime Video platform. This decision aligns with the strategies of other streaming services that have turned to advertising as a means to address their financial challenges.
Warner Bros. Discovery expands film studios as primary production hub for DC Studios
In an effort to enhance its film production capabilities, Warner Bros. Discovery is expanding its film studios located in Watford, northwest of London. The expanded facility will become the primary production hub for DC Studios, the unit responsible for the creation of popular superhero films such as Batman, Superman, and Wonder Woman.
Scholastic’s shares plummet following widened net loss
Shares of Scholastic, a prominent children’s book publisher, have experienced a sharp decline after the company reported a widened net loss in the first quarter of its fiscal year compared to the same period last year. The news of the increased losses has alarmed investors and contributed to the drop in share value.
