According to the official report, Games revenue fell nearly 50% during the three-month period from January to March 2025, significantly contributing to a 16% year-on-year drop in Warner Bros.’s total Studios division revenue, from $2.821 billion to $2.314 billion. The studio blamed the decline on a lack of new releases in Q1 2025, as well as higher carryover from Hogwarts Legacy and Mortal Kombat 1 in 2024.
