Yahoo Finance Warner Bros. Discovery (WBD) Embraces Blockchain in The Flash
Warner Bros. Discovery WBD has revealed that its upcoming superhero film, The Flash, will be part of its blockchain film initiative. This initiative means that fans will have the opportunity to purchase the movie as a non-fungible token (NFT) through the blockchain service, Eluvio, from Jul 18.
The Flash Web3 Movie Experience is an innovative multimedia NFT that offers an interactive and engaging way for fans to connect with the 2023 DC superhero film.
Furthermore, alongside the opportunity to watch the film in 4K resolution, purchasers of The Flash NFT will gain access to an immersive Web3 experience. This unique experience will allow them to access five distinct digital realms that hold concealed augmented reality collectibles which they can unlock. Additionally, buyers will be able to enjoy exclusive content and behind-the-scenes footage related to the movie.
WBD has previously provided a Web3 Movie experience for films, such as The Lord of the Rings: The Fellowship of the Ring (Extended Edition) and Superman. It is worth noting that this marks the first occasion where the company is introducing a new movie onto the blockchain.
The company is benefiting from the rise in total DTC subscribers. The company witnessed strong usage growth in the first quarter of 2023. This trend is expected to continue in the second quarter of 2023.
The Zacks Consensus Estimate for total DTC subscribers is pegged at 98,700, indicating year-over-year growth of 7.28%. The estimate for revenues is pegged at $10.55 billion, indicating year-over-year growth of 7.35%.
Shares of this Zacks Rank #4 (Sell) company have gained 30.8% year to date compared with the Zacks Consumer Discretionary sector’s rise of 13.3% in the same period.
Warner Bros. Discovery, Inc. Price and Consensus
Warner Bros. Discovery, Inc. price-consensus-chart | Warner Bros. Discovery, Inc. Quote
NFTs to Boost WBD’s Top-Line Performance
Major studios like Disney DIS and Warner Bros. Discovery have the potential to utilize NFTs to develop immersive storytelling experiences, such as blending digital elements with the real world in theme parks or hosting virtual red-carpet premieres accessible to fans worldwide. NFTs offer the opportunity to enhance and expand the boundaries of traditional entertainment experiences for these prominent studios.
The emergence of NFTs is proving to be more than just a tool for artwork and establishing ownership rights. The entertainment industry is discovering new avenues to leverage NFTs, utilizing it to raise funds, create engaging viewer experiences and fuel the fan economy.
In the entertainment industry, financial resources play a crucial role. However, NFTs present a promising opportunity for creators to explore a fresh avenue of fundraising, enabling them to overcome budget limitations and financial constraints.
WBD achieved a remarkable feat by selling out 100,000 NFTs for Matrix Resurrections this year. Additionally, Disney has taken a significant step by establishing a metaverse department named next-generation storytelling. These instances highlight the success and progression in utilizing NFTs within the entertainment industry.
Warner Bros. Discovery has already enjoyed success with NFT releases of Superman and Lord of the Rings. The company expects to enjoy similar success with upcoming releases in the future.
Zacks Rank & Key Picks
Nexstar Media Group NXST and DraftKings DKNG are some better-ranked stocks from the broader sector which investors can consider. Currently, NXST sports a Zacks Rank #1 (Strong Buy) and DKNG carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Nexstar have remained unchanged year to date. The Zacks Consensus Estimate for NXST’s 2023 revenues is pegged at $5.11 billion, indicating a year-over-year decline of 2.02%. The consensus mark for earnings is pegged at $2.88 per share, which has increased by 14 cents over the past 30 days.
Shares of DraftKings have soared 168.2% year to date. The Zacks Consensus Estimate for DKNG’s 2023 revenues is pegged at $3.23 billion, indicating year-over-year growth of 44.29%. The consensus mark is pegged at a loss of 27 cents per share, which has increased by 2 cents over the past 30 days.
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