The DC Extended Universe often gets a bad wrap, but its films have helped boost Warner Bros. to record-setting performances at the worldwide box office. Time Warner released its earnings report for the fourth quarter and full year for 2017, praising all three of its operating divisions.
Warner Bros.’ parent-company Time Warner saw revenues grow 9% to $8.6 billion during the fourth quarter, with full-year revenues increasing 7% to $31.3 billion.
"We had another very successful year in 2017, achieving our financial goals thanks to the great creative and programming excellence across Time Warner," Chairman and CEO Jeff Bewkes said. “All three of our operating divisions increased revenue and profits while also investing to capitalize on the growing demand for the most creative and compelling content as well as new ways to deliver it to audiences worldwide."
Bewkes continued: “Warner Bros. had its best year ever at the global box office with its films grossing over $5 billion in box office receipts, led by hits like Wonder Woman, It and Dunkirk, which received eight Academy Award nominations, including for Best Picture. Warner Bros. also remains the #1 supplier of television shows for the broadcast networks, and saw continued growth in games with franchise releases Middle-earth: Shadow of War and Injustice 2.”
Warner Bros. recorded $4.05 billion in revenue for the fourth quarter, an increase in 5% ($185 million) from the same period a year ago. Time Warner specifically detailed, “Theatrical revenues decreased as lower home entertainment revenues related to the comparison to last year’s release of Suicide Squad were partly offset by higher television licensing revenues of theatrical product.”
For the full year, Warner Bros. saw revenue increase 6% ($829 million) year-over-year to $13.9 billion due to a growth in theatrical, television and games revenues. “Theatrical revenues benefited from higher television licensing revenues of theatrical product, the strong box office performances of Wonder Woman and It, and higher home entertainment revenues,” the company boasted.
Wonder Woman has become the most successful film in the DCEU, both critically and commercially. In addition to glowing reviews, the movie earned over $821 million at the global box office. Warner Bros.’ horror-remake It was a pleasant surprise for the studio, grossing over $700 million at the global box office, while the award-winning Dunkirk grossed $525 million.
The divisive Justice League, which wasn’t specifically mentioned by Bewkes, totaled $656 million worldwide. The superhero team-up released in November and helped cap off a record-setting 2017 for the studio, although it fell short of high expectations. The Zach Snyder-helmed film was panned by critics, but fans of the DCEU seemed to have found enjoyment in the movie.
Time Warner’s other divisions enjoyed similar success. Home Box Office saw full-year revenues increase 7% to $6.3 billion due to an increase of 11% in Subscription revenues, but partially offset by a decrease of 10% in Content and other revenues. Turner, meanwhile, enjoyed its full-year revenues increase 6% to $12.1 billion.