A sign outside the Warner Brothers Discovery Techwood Turner Broadcasting campus is seen on June 26, 2024 in Atlanta, Georgia.
Kevin Dietsch | Getty images
Discovery Warner Bros. said on Thursday that he added 6.4 million world streaming subscribers to the fourth quarter for a total of 116.9 million subscribers.
The turnover of the fourth quarter for the streaming segment, which is anchored by the flagship service max, totaled $ 2.65 billion, up 5% against $ 2.53 billion in the same quarter last year. The profit adjusted before interest, taxes, depreciation and amortization for the unit came to $ 409 million, compared to a loss of adjusted Ebitda of $ 55 million in the fourth quarter of 2023.
In A Shareholder Letter, The Company Forecast Adjusted Ebitda of $ 1.3 Billion for its Streaming Business for the Year – Roughly Double the $ 677 Million Adjusted Ebitda It reported for 2024 – and Said it has a “Clear Path” to Hit 150 million Global Subscribers by 2026. Max is set to launch on television service Sky in the United Kingdom and Ireland by the Second Quarter of 2026, and Will Debut in Germany and Italy in the first quarter of this year.
“In this generational media disruption, only world streamers will survive and prosper, and Max is only that,” CEO David Zaslav said on Thursday.
The media and entertainment company announced on Wednesday that Max would keep its B / R and CNN sports content available without additional costs for subscribers in its standard and premium levels. Initially, WBD planned to charge an additional cost for sports.
However, he will draw the two verticals from his basic level supported by advertising from March 30.
Here’s how Warner Bros. Discovery worked in the fourth quarter of 2024 compared to what Wall Street was waiting for, based on a survey of LSEG analysts:
- Loss by action: 20 cents vs profit per share of 1 hundred expected
- Income: $ 10.03 billion against $ 10.19 billion expected
The overall turnover of the fourth quarter of WBD dropped by 2% to $ 10.03 billion, compared to $ 10.28 billion in the same quarter in 2023. Full year’s revenues of 2024 reached $ 39.32 billion, down $ 41.32 billion in 2023.
Warner Bros. Discovery declared a net loss of $ 494 million for the fourth quarter of 2024, a loss of 20 cents per share, against a net loss of $ 400 million, a loss of 16 cents per share, in the fourth quarter of 2023.
Revenues from television networks reached $ 4.77 billion, compared to $ 5.04 billion during the annual period. The company previously noted $ 9.1 billion for its network activities in its 2024 second quarter profits report in its shareholder letter, Warner Bros. Discovery noted that it expects an additional drop in cable subscribers and that the US linear advertising market is shrinking faster than expected.
For studios activity, fourth quarter revenues totaled $ 3.66 billion, an increase of 15% against $ 3.17 billion in the fourth quarter of 2023.
“We are focused on the laser to bring our studios back to a place of industry leadership,” said Zaslav.
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