Warner Bros. and Discovery Announce 92.1 Million In Combined Streaming Subscribers
Posted on August 5, 2022, 4:00 am
According to hollywoodreporter.com, for the first time since the two companies merged earlier this year, the Warner Bros. Discovery reported their full quarterly earnings, and its plan to fully integrate the two companies. WBD chose to combine all of their subscribers into one number for the quarter, stating a total DTC subscriber base of 92.1 million dollars, that includes HBO Max and Discovery+. They also reported revenue of $9.8 billion and a loss of $3.4 billion. The Overall consensus was that the earnings were expected to be $11.91 billion and an EPS of $0.08, with the company expected to add more then 1.6 million combined streaming subscribers. WBD produced $2.7 billion in advertising revenue for the quarter, $4.8 billion in distribution revenue, and $2 billion in content revenue, while streaming lost $1.5 billion in the quarter. WBD CEO made a statement saying, “We intend to maximize the value of that content through a broad distribution model that includes theatrical, streaming, linear cable, free-to-air, gaming, consumer products and experiences, and more, everywhere in the world,” and is planning to put all their chips on streaming in the upcoming year.
Gerry Boughan / Shutterstock.com