Superman
Warner Bros. Studios Q4 Home Entertainment Revenue Increased 4% to $280 Million
February 26, 2026
Warner Bros. Studios “other” business segment, which includes legacy home entertainment (such as physical media and digital release) and consumer products, Feb. 26 reported a 4% increase in revenue to $280 million in the fourth quarter (ended Dec. 31, 2025), from $269 million in the prior-year period.
Top-selling retail titles in the quarter included Superman (released via digital in August, and on 4K/Blu-ray Disc/DVD in September); The Conjuring: Last Rites (released on 4K/Blu-ray/DVD in November); One Battle After Another (digital release in November); and Weapons (released on 4K/Blu-ray/DVD in October).
Classic and holiday-themed titles also performed well at retail, led by Elf, The Polar Express, National Lampoon’s Christmas Vacation, and the “Lord of the Rings” and “Harry Potter” movies.
For the fiscal year, home entertainment and consumer products revenue topped $870 million, flat with $877 million in revenue in 2024.
Overall, despite a strong 2025 global box office reaching $4.4 billion in revenue — No. 2 behind Disney — the Warner Bros. Studios segment reported a 14% decline in fourth-quarter revenue to $3.18 billion, from $3.65 billion in the previous-year period.
The decline was attributed to the fact that Warner released zero theatrical titles in the quarter, compared with two releases in the previous-year period: Joker: Folie à Deux and the animated The Lord of the Rings: The War of the Rohirrim.
The top-grossing theatrical release in the fourth quarter, the Oscar-nominated One Battle After Another, was released on Sept. 26, 2025, generating $208 million at the global box office. The Conjuring: Last Rites, which was released on Sept. 5, generated almost $500 million at the global box office.
Content revenue decreased 16% to $2.89 billion, from $3.39 billion in the prior year period. Theatrical revenue decreased 11%, as a result of lower content sales and lower box office revenue.
TV revenue decreased 18%, primarily driven by the timing of inter-segment content renewals. Video games revenue decreased 34%, primarily driven by higher carryover in the prior-year quarter.
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