Warner Bros Discovery (WBD, Financials) shares held steady Monday at $8.02 after the company's “Minecraft” film posted a $300 million global opening weekend, potentially breaking records for video game adaptations. The company, which generated $39.3 billion in revenue over the past 12 months, received a reaffirmed “Market Perform” rating and $11.00 price target from Bernstein SocGen Group.
The strong opening surpassed early expectations and outpaced 2025 box office competitors including “Mufasa,” “Captain America,” and “Snow White.” Analysts have speculated that “Minecraft” could ultimately gross more than $1 billion globally, more than double its initial projections. The current record for a video game-based film is held by “The Super Mario Bros” (2017), which earned $1.3 billion worldwide.
The film's success is seen as a potential tailwind for Warner Bros Discovery's Studios segment, which is set to release “Superman” later this summer. Analysts said the company's strong entertainment slate could help counteract macroeconomic headwinds in its advertising division.
Warner Bros Discovery's partnership with Legendary, which is believed to be in a minority position on the “Minecraft” project, may affect the film's total financial impact for the company. The company's full financial benefit from the film will become clearer as detailed box office returns are reported.
BofA Securities recently adjusted its revenue forecast for Warner Bros Discovery's first quarter to $8.9 billion, down from $9.68 billion. Adjusted EBITDA was revised upward slightly to $2.05 billion from $2.02 billion.
Raymond James also lowered its price target for the stock to $13.00 while maintaining an “Outperform” rating.
Separately, the company added Anton Levy, former co-president of private equity firm General Atlantic, to its board as an independent director. The move comes amid shareholder activism from Sessa Capital and reflects ongoing corporate governance changes.
Bloomberg reported that the company has canceled expansion plans for its Hogwarts Legacy video game franchise. The studio's video game division has been exploring strategic shifts as part of a broader internal reorganization aimed at enhancing segment transparency and evaluating potential asset sales or spinoffs.
Warner Bros Discovery's upcoming earnings report will offer further insight into how its entertainment portfolio and structural changes are affecting its broader financial outlook.
