Shares of communications services companies in Hollywood have experienced a slight increase, although they have still fallen behind the broader market. The ongoing turmoil in the industry has played a significant role in this trend.
Warner Bros. Discovery is one such company that has been impacted. Recently, the studio announced that the releases of three highly anticipated action and fantasy films will be delayed due to the strikes by both writers and actors. These strikes have effectively brought Hollywood to a standstill.
The films affected by the delay include "Dune: Part Two," "Godzilla x Kong: The New Empire," and "Lord of the Rings: The War of the Rohirrim." Originally scheduled to be released in the coming months, these films will now hit theaters throughout next year. The postponement of these movies, despite being near completion, highlights the significant role that writers and actors play in promoting and marketing films for studios. However, due to the strike initiated by the actors' union in mid-July, actors have been unable to partake in film promotions.
Overall, the challenges faced by communications services companies in Hollywood are emblematic of the larger issues plaguing the industry. As the strikes continue and delays persist, it remains to be seen how these companies will navigate through this period of uncertainty.
