(Reuters)-Warner Bros Discovery (WBD) reported on turnover Thursday below expectations in the first quarter, weighed down by the lack of great successes of its studios at the box office and by the weakness of its traditional television activity.

WBD, like its competitors and other players in the sector, loses thousands of cable television subscribers every year, consumers turning to streaming. This pushes the group in particular to constantly produce successful content and increase the profitability of its streaming activity.

The threat of American customs duties on films produced abroad also weighs on industry and WBD, whose big budget films are often produced on several continents.

Turnover dropped by 10% to $ 8.98 billion (7.96 billion euros), below analysts’ expectations that tapped an average of $ 9.60 billion, according to LSEG data.

The group, however, began the second quarter, however, with the better box office starts, among others with the “Minecraft, the film”, which brought about $ 900 million.

Its program for the summer is also promised, especially in July with “Superman”, directed by James Gunn.

Warner Bros Discovery’s streaming activity has also won 5.3 million subscribers in the quarter, while analysts expected 3.1 million new subscribers. This brings its total to 122.3 million.

WBD’s action fell 1.9% in foreign trade.

(Written by Aditya Soni in Bangalore; Etienne Breban; edited by Augustin Turpin)

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