The business decisions of Warner Bros. Discovery has been in the spotlight in recent months as the company looks to cut a significant amount of debt from its budget. So far, that’s included a lot of canceling and scrapping movies and TV shows (some of which were in the middle or mostly done with production), and even removing some existing titles from the HBO Max streaming service. According to a new report from the Financial times, the company’s latest strategy includes another facet of their library: music. Warner Bros. Discovery is reportedly investigating a sale of its music library, including the copyrights to several movie soundtracks.
While WarnerMedia previously sold off its music division in the early 2000s, it retained copyrights to soundtracks such as The Wizard of Oz and West world. The library is reportedly valued at over $1 billion.
Why is HBO Max canceling so many shows?
This news comes amid a series of new behind-the-scenes changes at HBO Max following the recent merger of new parent company, Warner Bros. Discovery. These patterns started with the cancellation of bat girl and Scoob!: Holidays back in August 2022. Both movies, which were already completed and were set to debut on HBO Max, would later be canned for tax write-offs, apparently set to be shot in the third quarter of 2022. since then, Warner Bros. Discovery removed six exclusive HBO Max movies from their streaming platform, as well as a number of popular animated series. Anonymous sources claimed last August that no existing show is safe from possibly being canceled or written off, with Warner Bros. Discovery now makes case-by-case decisions.
“Looking at the broad breadth of all the shows that have been pulled off the service, it’s hard to even see a through line between them,” OK KO: Let’s be heroes! creator Ian Jones-Quartey said in an interview last year. “We’re still not sure why some things were removed and others weren’t. The whole thing is just very confusing and there hasn’t been much contact with anyone.”
What do you think of Warner Bros. Discovery reportedly selling its soundtrack library? Share your thoughts with us in the comments below!
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