Warner Bros Discovery Inc
NASDAQ:WBD

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Warner Bros Discovery Inc
NASDAQ:WBD
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Price: 27.23 USD 4.41% Market Closed
Market Cap: 67.4B USD

Warner Bros Discovery Inc
Investor Relations

Warner Bros Discovery Inc. emerges as a dynamic powerhouse in the media and entertainment industry, representing the fusion of two iconic names: WarnerMedia and Discovery, Inc. This corporate merger, consummated in 2022, was orchestrated to blend WarnerMedia's strength in film and television production with Discovery's expertise in non-fiction and international content. The combined entity leverages an extensive portfolio that includes beloved brands such as HBO, Warner Bros., CNN, and the Discovery Channel. This diverse range of assets positions Warner Bros Discovery to thrive in an ever-evolving media landscape where streaming services, traditional television, and cinematic experiences blend seamlessly. The strategic alignment allows Warner Bros Discovery to create, distribute, and monetize content across multiple platforms, catering to global audiences.

In monetizing its vast array of content, Warner Bros Discovery employs a multifaceted approach. The company generates revenue through various streams, such as direct-to-consumer subscriptions, advertising, content licensing, and theatrical distribution. Platforms like HBO Max and Discovery+ serve as integral components of its digital strategy, where subscribers pay to access a vast library of films, series, documentaries, and original programming. In parallel, its traditional cable networks and production units capitalize on advertising revenue and syndication deals. The theatrical release of films provides another significant income stream, bolstered by a storied history of blockbuster hits. Through these revenue channels, Warner Bros Discovery not only captures diverse market segments but also adapts to shifts in consumer behavior, ensuring its place at the forefront of the entertainment industry.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

Studio Leadership: Warner Bros. Discovery now leads the 2025 global box office, crossing $4 billion in box office revenue and launching several successful films in Q3.

Streaming Growth: HBO Max is now available in over 100 countries, has added 30 million new subscribers in three years, and is projected to reach over 150 million subscribers by the end of next year.

Profitability Turnaround: The streaming segment will deliver over $1.3 billion in EBITDA this year, a dramatic improvement from a $2.5 billion loss three years ago.

Strong Content Pipeline: Warner Bros. Television received 14 Emmy awards in Q3, and HBO was recognized with 30 Emmys, highlighting consistent success in TV and original content.

Debt Reduction: The company lowered its net leverage ratio to 3.3x EBITDA after paying down $1 billion from its bridge loan facility in Q3.

Guidance & Ambition: Studio EBITDA is expected to exceed $2.4 billion this year, advancing toward a $3 billion EBITDA target.

Streaming ARPU: US streaming ARPU faces near-term pressure but is expected to return to growth in the back half of 2026.

Key Financials
Box Office Revenue
$4 billion
Streaming Subscribers
More than 100 million currently; more than 150 million projected by end of next year
Streaming Segment EBITDA
More than $1.3 billion (this year)
Net Leverage Ratio
3.3x EBITDA
Debt Paid Down
$1 billion (from bridge loan facility in Q3)
HBO Emmy Awards
30
Warner Bros. Television Emmy Awards
14
Earnings Call Recording
Other Earnings Calls

Management

Mr. David M. Zaslav
President, CEO & Director
No Bio Available
Dr. Gunnar Wiedenfels Ph.D.
Senior EVP & CFO
No Bio Available
Mr. Bruce L. Campbell
Chief Revenue & Strategy Officer
No Bio Available
Mr. Jean-Briac Perrette
President and CEO of Global Streaming & Games
No Bio Available
Mr. Gerhard Zeiler
President of International
No Bio Available
Ms. Lori C. Locke
Chief Accounting Officer & Executive VP
No Bio Available
Mr. Avi Saxena
Chief Technology Officer
No Bio Available
Mr. Dave Duvall
Chief Information Officer
No Bio Available
Mr. Robert Lane Gibbs
Chief Communications & Public Affairs Officer
No Bio Available
Ms. Jennifer Remling
Chief People & Culture Officer
No Bio Available

Contacts

Address
NEW YORK
New York City
230 Park Avenue South
Contacts
+12125485555
wbd.com