This summer is underwhelming but you go down the list and almost every studio movie is making a profit given their WW totals. Even Baywatch may make a "profit."
Look at how write downs become such big news... Why is that? Because Hollywood doesn't make movies that don't make money especially at the highest level. There is ZERO debate Transformers is a property with diminishing returns and TF5 very much validated that trend.
The situation is not any less severe for Viacom/Paramount because they will eek out a profit on TF5. I try to explain this to you guys over and over... The major studios are all part of huge multinational corporations. Their earnings and revenue guidance has their movies making a profit, not breaking even lol.