Discovery might have had. August 4, 2022 04:30 PM ET. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . The advertising environment in the U.S. remains very . And then for Gunnar or JB, can you maybe just expand upon your fast strategy and why you chose to do the deal with Roku and Tubi and maybe how that might impact the launch or timing of your own fast service? We've gone through a couple of the puts and takes here. He presented that to you and the press about a month ago. And we've got a time-tested approach to cross promotion, and we're adjusting that right now to the larger portfolio and the larger number of assets that we're promoting. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. We see churn as a third important variable that historically has been relatively higher on the HBO Max product that with the two products coming together, that ultimately coming down is important. I think the focus right now is obviously continuing to on the expanded entertainment offering, and we think the complementary of the HBO Max and Discovery+ entertainment offering is significant and will be a major step forward for consumers, who are looking for simplified number of choices, more breadth of options in terms of content all in 1 place and for good value. We haven't done new Harry Potter content in over a decade. Chris Licht and the team are focused on building an asset for the long term across cable and digital that is worthy of that great global brand. They want -- they want to have an opportunity for their content to be seen, to be talked about, and they want to feel respected. Based on the traction we are seeing across the broad spectrum of operational and financial KPIs, we expect segment EBITDA to be more or less breakeven in Q1, which implies another $500 million improvement year-over-year, roughly in line with the improvement seen in Q4. Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. And there's a number of uncertainties as you wouldn't be surprised to hear. It's working. China said on Monday (local time) it sought dialogue and peace for Ukraine despite US warnings that Beijing might be considering weapons supplies for its ally Russia's bogged-down invasion. We have a lot of points to be very excited about. And why should we need to monetize that in order to drive shareholder value. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. Q4 revenues decreased 9% year-over-year, while adjusted EBITDA decreased 2%, helped by a reduction in consolidated SG&A by 22%, a bit more than we guided to. Let me start with the second. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. Every week, a new episode comes out and by the time the next one airs a week later, tens of millions of people have watched the last episode. I believe Warner Bros. TV is the greatest quality maker of content in the world. We definitely are planning for an inflection on the revenue side. A few weeks ago, James and Peter rolled out Phase I of their highly anticipated multiyear plan for DC Studios across film, television and animation with 5 films and 5 television series already in the works, the new era for DC under a single creative vision is in full swing, and we are especially eager to thrill fans with new Superman and Batman movies in 2025. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. As always, we are not managing this company for short-term financial performance, but rather with the next 100 years of this vibrant creative organization in mind. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. Thanks, Ben. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. And the newest hits, Night Court on NBC and Shrinking on Apple TV. We continue to be the place creators are choosing to bring their visions to life. We are already seeing a more inclusive range of voices and viewpoints, as demonstrated last month, when over 70 Republicans came on our air during their Congressional speaker election process, a first in a very long time, and we intend to continue advancing on this balanced strategy. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. The 99-year-old movie studio, home to Harry Potter, Batman and Bugs Bunny, will now head in a. We see better engagement, better churn, which makes marketing efficiencies come up. So again, as I said, a similar picture with more diversity. And to that end, we are now confident in a path to at least $4 billion of savings largely addressable through 2024, representing an increase of $500 million over our prior estimate. "We are looking for: single women and men between the ages of 23-35," the official Warner Bros casting call reads. Partially offsetting revenue headwinds were lower content expenses, distribution fees and marketing costs. It's 1 of the biggest value creation opportunities for us. The closing date for applications is Tuesday, 20 June 2017 at midnight GMT. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. Obviously, successful films will help your Studio segment earnings. We can take you into the theater around the world. Discovery's Q4 Earnings Call. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. But the digital inventory, which really held up in the fourth quarter has also softened. Discovery. I remain very optimistic about the range of potential outcomes in 2023 and beyond. We will always be a little lower maybe than sort of a pure-play D2C product just because of the HBO linear trends that are baked into our revenue number. Is there -- what are you considering? Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. It's not about getting it out quick. Q&A session is now closed, which concludes today's conference. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . Sure. We brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. You may now disconnect. So we do see subscriber scale as one part of the revenue growth story. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. So I know it's a pretty open-ended question, but can you talk about how you see the streaming industry evolving overall with these changes? The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. I'm just wondering if you can talk about some of these assumptions. TM & WBEI. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. And on the 2023 outlook, look, it's early in the year. We have profitable subscribers that are very happy with the product offering of Discovery+, why would we shut that off. Discovery in April last year. The creative co-lead and co-chairman of DC Studios have confirmed the entertainment studio is separate from Warner Bros. Pictures Group As per CBR via the social news aggregate website, Reddit . Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. The search for Nick took Warner Bros. much longer than expected, though, and eventually Golding was ready to sign on. To participate in the Warner Bros. Thank you, David. Having said that, as we face this next upfront, which is coming up in two months, I think the breadth of our content together with where we go in on price, positions us very well. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. But it's -- we're not going to tell any story before it's done. And back then, you had to watch the show on Thursday night. We have an exceptional leadership team that is truly aligned across a common set of strategic, operational and financial goals and metrics. For us, 2023 is a year of building. And so selling that to drive free cash flow and to nourish the overall segment, so that we, as a media segment, can be successful is important. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. Or is that something that might fuel that service? Storytelling content is most powerful when you're watching it and then you're with others, either in a theater, or you're able to talk about it either online or with your friends, that's the power of content, not when you're viewing content alone. And it is shared -- the platform itself for Discovery+ will be a shared platform. And together, we are focused on making our businesses better and stronger. How much do you feel like is more reflective of some of the underlying trends that just have to do with ratings declines or core cutting and those types of trends? Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . Moreover, the exit rate coming out of the fourth quarter lends confidence in continued very strong financial performance thus far in Q1 and into our soon-to-be relaunched D2C offering. International markets continue to perform relatively better, stronger markets such as Poland and Italy were in part offset by weaknesses in the UK, Nordics and certain Latin American countries. Again, creating shows that people want to watch. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. Naturally, and as I have said before, not all of these initiatives will come to fruition or get realized to the full extent, but this represents a significant pipeline for us as components of both near-term cost out and longer-term continuous improvement. We've already seen more than $850 million in retail sales, and we still have more platforms launching over the next few months. We can put you on HBO on a Sunday or Monday night, where it's must see streaming TV or we could have to we've launched your movie. On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - March 10, 2022 684 0 Advertisements On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice Advertisements And after just 5 weeks, an astounding 35 million people have watched episode 1. We do expect the cash cost to achieve synergy and transformation efforts will be around the higher end of our $1 billion to $1.5 billion guide given the expanded synergy target, some of which possibly hitting in 2024. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. It's significantly better outside the U.S. right now, which is a surprise. Appreciate all the information you just shared. And the good news is we've had a real chance to look at content on each of the platforms over the last two years. If you look at D.C., Harry Potter and Lord of the Rings, and then you take a look at Warner as a company without those three, okay? In terms of the market itself, it's -- as I've said before, it's not a good environment. Faith Wood-Blagrove beat thousands of other young actresses to the role of Modesty in Fantastic Beasts, and Evanna Lynch was chosen for the part of Luna Lovegood out of 15,000 other young women following open casting in 2006. 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