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The Bottom Line: Entertainment Giants Close Books on a Tough 2020 With Transformative Moves

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variety.com
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Cynthia Littleton Business EditorThe hard evidence of the transformation of Hollywood’s largest studios into the direct-to-consumer platform arena can be found in the current media earnings cycle.In closing the books on the fourth quarter of a difficult year, entertainment behemoths are documenting the costs and the long-term impact of massive restructuring efforts.

As Disney, NBCUniversal, WarnerMedia, ViacomCBS and Discovery re-engineer content and distribution operations for the future, Netflix logged another quarter that blew investors’ socks off.The quarantine conditions of the past year have been nothing less than an accelerant to profitability for the company that spent its way to market dominance.“They have been saving money on.

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