Warner Bros. Discovery Plans to Sell Half Its Movie, TV Music Catalog: Report

Quincy Jon, Tech Times 23 June 2023, 11:06 am

Warner Bros. Discovery wants to sell off a sizable amount of its film and TV music catalog to strengthen its financial condition.

According to sources quoted by Variety, the corporation hopes to make around $500 million by selling a record label the rights to "slightly less than half" of its repertoire.

While specifics about the songs and performances that make up the library are still unknown, insiders claim that a big label, Sony, is likely to buy the rights. The massive collection is reported to contain music from "Purple Rain," "Evita," "Sweeney Todd," "Rent," various "Batman" films, and more. It might incorporate "As Time Goes By" from "Casablanca." The rights bundle must be defined. Warner Bros. Discovery CEO David Zaslav entrusts the deal to renowned lawyer Allen Grubman.

Despite the expected economic worth of these assets, detractors contend that many of Warner Bros.
Discovery's catalog products are older than 50 years and are thus losing value in the current market.

Fewer traditional songs make up the majority of the collection, which might make it difficult for prospective purchasers to maximize their commercial potential. Universal Music Publishing and the library are parties to a multi-year management agreement.

Deep in Debt

The choice to part up a piece of its music library fits with Warner Bros. Discovery's current emphasis on paying off its massive debts. This tactical choice strives to support the business's financial goals while maximizing valued assets.

Industry watchers point out that most subjects in the portfolio come from programs and movies with little cultural relevance now, which might be a challenge for the person who buys the rights.

The proceeds from such a sale, which would occur at the height of a still-booming market for music libraries, would aid the corporation in paying down its $49.5 billion debt.

Rumor: Sony is Interested

Amid these events, reports about Sony's desire to purchase the music library of Warner Bros. Discovery have surfaced. Due to this contract, Sony could produce a new Batman game, according to Spiel Times.

Sony fans are already speculating about future releases if the rumor is true, even if the transaction has yet to begin. The Batman game is one unique app that has acquired popularity on Twitter.

Batman video games have historically been owned and created by Warner Bros. Interactive Studios. However, it is possible that Sony would pick up the mantle and produce a new Batman game if this story is accurate.

The possibility that Sony might control and create Batman video games is significant for several reasons. The thought of Sony-owned Insomniac developing Batman excites fans. Insomniac's PlayStation-exclusive titles include Marvel's Spider-Man, Miles Morales, and the highly anticipated sequel.

The sale of Warner Bros. Discovery's film and television music library takes place against the background of a television sector that is quickly developing. Once lauded for their popularity and profitability, cable networks like CNN, TNT, TBS, TLC, HGTV, and Food Network today contend with a more dynamic and competitive environment.