In answering that question, you reiterated something you'd said before, which was an intent to fold the Discovery content into the new product. Warner Bros. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. But the digital inventory, which really held up in the fourth quarter has also softened. FAST is one area that as we look at the evolution of consumer behavior, we look at obviously a lot of the free-to-air viewing moving to what we call free-to-view online. We have a great hand and we're doing a lot right. And I think that diversity is strength. 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? Yes. That is exactly what we see happening at HBO. We're also excited for the release of 4 DC films this year, starting with Shazam in 2 weeks and followed by The Flash, which James Gunn called 1 of the greatest superhero movies ever made, a masterpiece. The decisions we've made and the strategies we've set in motion 10 months ago have created a solid foundation and we're starting to see strong momentum. The studio is the flagship producer of live-action feature films within Warner Bros. Clearly, you still have some macro challenges, but what could go right? Elvis is a 2022 biographical drama film directed by Baz Luhrmann and written by Luhrmann, Sam Bromell, Craig Pearce, and Jeremy Doner.It follows the life of the American rock and roll singer and actor Elvis Presley, told from the perspective of his manager, Colonel Tom Parker.It stars Austin Butler as Presley with Tom Hanks as Parker, while Olivia DeJonge, Helen Thomson, Richard Roxburgh . We've effectively done that now, but we had to take two different sales teams and pull them together. The gaming business is all consumer product driven. You also hear a bigger discussion around how you decide when something should be exclusive to your platforms and when maybe you should be licensing. Today, with direct-to-consumer, more and more people are joining the party. Discovery, we believe we have the strongest hand in the industry, with the most complete portfolio of assets and globally renowned franchises, personalities and storytelling IP, across sports, news, nonfiction and entertainment, in virtually every region of the globe and in every language. Clearly, as we have pointed out as a key risk since the summer, underlying advertising trends, particularly in the U.S., have continued to soften through the fourth quarter, and that was further exacerbated by general entertainment audience declines. Is there any of your content that's definitely off the table to be included in that service? The 50 Best Movies of 2022, According to 165 Critics from . Looking for Pottermore? The long-term earnings and free cash flow generation potential of this company are stronger than ever, particularly after having taken some courageous and crucial first steps this past year. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. We'll definitely -- we're definitely planning for revenue improvement. Discovery, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City.It was formed after the spin-off of WarnerMedia by AT&T, and its merger with Discovery, Inc. on April 8, 2022.. media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . And regarding the linear affiliate renewals, as we've said a couple of times that we're very happy with how those discussions went, is a clear testament to the importance and the value that our network portfolio is delivering to our affiliates. Naturally, our domestic relaunch of the combined product offering in the spring will result in a sequential step-up in P&L investments in Q2 behind a requisite increase in marketing spend support and premier content launches. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Adjusted EBITDA decreased 7% as revenue declines were partially offset by lower content expenses as well as lower personnel and marketing costs, in part reflecting our cost synergy efforts. On direct-to-consumer, we are making meaningful progress on our goal to achieve real profitability in streaming, a key and powerful segment of our company. There's been an increasing discussion recently about what the right general entertainment content strategy supposed to be for media companies as your models continue to pivot and become more streaming-centric. We're also thrilled by what we're seeing coming out of our games business, which represents a core part of our overall strategy. In terms of the market itself, it's -- as I've said before, it's not a good environment. They have great plans to revitalize the nets and have also begun to use our exceptional library of film and television content in a way that will benefit our linear and cable networks. I have one for David and then one for J.B. or Gunnar. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA 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. And then obviously, with the new product, we just look at some of the features that we're going to be rolling out and some of the improved and enhancements from a performance standpoint in the product at a much higher engagement, which will help both our ad-lite monetization, including, as David mentioned earlier, the fact that we're now putting ads and all the content on HBO Max as opposed to just some of the content on HBO Max, all those will be part of the revenue drivers in addition to obviously having the rights like we talked about before, for all of our sports in the U.S. and news content eventually that could also help us drive further scale and pricing in the years ahead. Warner Bros. didn't even have the courtesy to give the "Batgirl" cast and creative team a bat signal that their movie was being locked away in Arkham. These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. That's the power of curation. Discovery Second Quarter 2022 Earnings Call. MACON RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA By Kevin P. King - April 7, 2022 487 0 Advertisements On Location Casting *RUSH CALL* - TODAY! And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. The industry was in a quantity of content over quality, we believe, in a quality over quantity and therefore, spend-wise, spend needs to get rationalized. And so we're feeling more and more confident about that. Warner Bros. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. Discovery, Inc. (NASDAQ:WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET, Andrew Slabin - Executive Vice President, Global Investor Strategy, David Zaslav - President and Chief Executive Officer, Gunnar Wiedenfels - Chief Financial Officer, Jean-Briac Perrette - Chief Executive Officer and President, Global Streaming and Interactive. Discovery, Inc.. Look, I mean on the content spend, Remember, all our strategy changes leading to the content restructuring and write-offs over the course of last year, obviously, that's going to flow through cash as well as we adjust. Echoing some of what David said, the leadership team is ever more aligned on strategic decision-making that benefits the company as a whole versus one segment or another and is incentivized as such. This doesn't yet reflect the $1 price increase on the ad-free retail tier in the U.S. that was implemented in January and which has been digested quite well. The poor actors and directors of the . October 27, 2022 THE LATEST Casting Lady Gaga Joins. An open casting call has gone out for three actors between the ages of 13 and 16 to play young versions of Newt, Leta, and another character called Sebastian. This information is only for educational purposes use. I can't wait for The Flash to hit the theaters in June. Let me start with the second. John Oliver poked at HBO's parent company, Warner Bros. The advertising environment in the U.S. remains very . ET Follow HBO Max Go to Site Follow HBO Go to Site Follow Warner Bros. Go to Site Follow HGTV Go to Site Follow Discovery Go to Site Follow discovery+ Go to Site Follow CNN Go to Site Follow TBS Go to Site Follow Food Network Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. We have full command and control of our business, and we are one company now. This company is found in the years 1923. The reality is the market is evolving so dynamically that what we are doing is as 1 team, looking at all the different windows and what our real asset is having actual distribution assets in almost every form of media, whether it be linear television, on-demand television through streaming, games, theatrical distribution, free-to-air, pay TV. And Lord of the Rings, which is a fantastic franchise, Andy Jassy was pushing on it at Amazon with a lot of success, but we own those movie rights. This year, we celebrate the storied Warner Bros. Studios 100th anniversary with a deepened commitment to telling quality, diverse stories, with the power to entertain, inspire, and when we are at our best, impact or even change the culture. August 15, 2022 10:20am. I do believe, as JB said, and we do believe, as a company, that we'll sort of recreate this -- the streaming service, which is ad free, then which -- then there'll be ad-lite. We have a lot of points to be very excited about. Warner Bros. Newt Scamanders relationships and past remain enigmatic, so any glimpse into his formative years will be huge for the character. 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. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. And Ben, on the D2C question, let me start with the revenue side of it. If all else fails, take your mother's advice - if it seems too good to be true, it probably is. Warner Bros. Discovery's earnings are expected to grow from $0.97 per share to $1.79 per share in the next year, which is a 84.54% increase. from casting calls to the lure of the red-carpet award season. Nowhere is this more important in my view, and it isn't going to happen overnight, and I believe we are on the right path. Webcast. Thanks, Ben. You're going to see us fighting at Warner Bros. on the Motion Picture side, in order to really -- I think there's a huge opportunity on the Warner Bros. Motion Picture side for investment in quality content and storytelling. 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. Our next question comes from Kutgun Maral with RBC Capital Markets. Warner Bros. And so I think of the investments that you make in live sports content on Turner, live content on CNN, are those types of things definitely are or they structurally not able to be put on the service? Cast: Dwayne Johnson, Keanu Reeves, Joh Krasinski, Kate McKinnon, Natasha Lyonne, Kevin Hart, Diego Luna, Jameela Jamil, Vanessa Bayer, Marc Maron About: Krypto the Super-Dog (Johnson) and Superman (Krasinski) are inseparable best friends, sharing the same superpowers and fighting crime in Metropolis side by side. And where does the WBD fit in that? This is one team now. But in addition, we want to run this company to drive free cash flow and the ability to monetize a lot of the content that isn't critical to subscriber growth. We continue to expect to convert 1/3 to half of EBITDA into free cash flow, as I stated earlier, with the key determinants and drivers of growth being the magnitude of EBITDA, net cash content spend, the impact of working capital initiatives, and the timing and magnitude of a trend change in the advertising market. We've contended with recent share shifts away from our portfolio during the NFL and College Football season and the World Cup. Our final question comes from John Hodulik with UBS. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. Some are advertiser-driven. An unrepentant Zaslav turned up on Thursday to bask in the afterglow of positive quarterly financials: $6 billion in debt repaid since the merger, a combined 1.7 million new subscribers to HBO Max . There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. It's not about getting it out quick. And that is the culture here at Warner Bros. And after just 5 weeks, an astounding 35 million people have watched episode 1. 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. Or is that something that might fuel that service? If you could share your view on those two impacts, that would be very helpful. We have command and control of each of the businesses. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. Content alone is really only half of the equation. Photo: Kevin Dietsch/Getty Images. And there's a number of uncertainties as you wouldn't be surprised to hear. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. Netflix Reality Series Audition 2023 Casting Calls. Among them, the integration and repositioning of our global finance organization through which we implemented a number of initiatives to drive efficiency and better support the company's long-term sustainable growth. And then on the cost side, all of the trends are pointing in the right direction. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. All the meetings that I've had in the last two weeks are about great content that we're producing, meeting with creatives that want to come here, how we -- what more shows are we going to be selling, what more shows are we going to be keeping on our platform? In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. On the one hand, we have tremendous breadth with live news, live sports, entertainment, nonfiction, a tremendous share and reach. In addition to less activity in home entertainment, given the leaner theatrical release schedule in 2022, which was very much a result of deliberate decisions we made about specific titles and overall release dates. December 13, 2021. I want to follow up on the streaming discussion. And it's the same principle with theatrical, perceived value of content increases when there's a great expectancy and excitement. J.B., anything to add to that? And we continue to track above our internal plans. So those candidates who are interested must have checked the companys full details. Discovery to Report Fourth Quarter 2022 Earnings: Listen Live on February 23, 2023 at 4:30 p.m. CASTING SUBMISSION - Actors & Extras Looking ahead within the Studio, 2023 will be a pivotal year, particularly behind our larger and broader release slates at both Warner Bros. Pictures and DC, not to mention a wonderful start with Hogwarts Legacy on the game side. And I think you're going to see a big difference that when we release something, it's going to be a product that we think is the best it could be. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Please disable your ad-blocker and refresh. We're assuming that. CAB Castings, LLC. We've been hard at work since our last call and look forward to updating you on our progress. Casey and the team continue to fuel critical and audience acclaimed with globally resident content, driving improvements in engagement and churn, which is setting up a nice tailwind into the relaunch. And in fact, we're -- we use news and sports quite effectively in Europe, and we've learned a lot about when it does work and when it doesn't. And to that point, I have no doubt that we have years and years of that coming our way. Passionate about supporting Creatives to develop, produce . Turning to consolidated results and free cash flow. The casting of their teenage incarnations as well as those of Newt and Leta will be sure to intrigue Harry Potter fans, and drive further speculation about the next films story. "I was in the movie 'Grown Ups'. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. So I think that I'm hyper-focused on this, meeting once a week with the team, but getting our stride as a new working team, and I feel like we're starting to get some momentum on that. 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. Moreover, we're analyzing our pricing strategy in a number of key international markets, particularly in LatAm, where we believe our service has significant pricing upside. She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. It's a wow. And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. We see price as a very important second part. And it is shared -- the platform itself for Discovery+ will be a shared platform. More Earnings Resources from MarketBeat Earnings Tools: Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance 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. Batman Day - September 17, 2022. And as we think about where we put content, as Casey looked at HBO, we were able to see which content are people spending time watching, what content is really powerful to us in terms of reducing churn. And so we're going to be -- Casey is the best example of that. 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. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. Obviously, successful films will help your Studio segment earnings. David, maybe just to sort of wrap up that on the content side. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . Though we are assuming that things will get better in the second half. We also made a decision in the upfront to drive price rather than extra volume. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. Casting call: Warner Brothers feature film "The Curious Incident of the Dog in the Night-Time" by admin Seeking a neurodivergent actor to play lead role The Curious Incident of the Dog in the Night-Time is a Warner Bros. feature film expected We brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. Consistent with what we told you last August, we are getting ready to launch our combined streaming service here in the U.S. in a few months with Latin America to follow later this year and markets in EMEA and APAC in '24. Is this happening to you frequently? company's most recent annual report on Form 10-K and its reports on Form 10-Q and Form 8-K. with that, I am pleased to turn the call over to David. But as David said, we've got sports and news that today are really untapped in the streaming world, and those are optionality for what we might be willing to do in the future, and we'll share more of that on the 12th with you with more detail. The only other thing I'd add, Ben, is for us, it's not just a question of subscriber scaling. The fourth quarter marked the end of a first and very defining chapter for Warner Bros. Discovery. It's about the sustainability and the longevity the free cash flow being delivered by that segment. James was writing Superman. Sir, you may now begin. Discovery, for canceling "Batgirl . 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? Discovery in which we took some pivotal initial steps. Is there -- what are you considering? Participants must have the right to work in the United States or Canada. This company every year give up the chance for new talents. Discovery Is America's Worst-Run Company,Mismanagement has ruined whatever success Warner Bros. Warner Bros. How to Get Cast On How to Get Cast in a DC Comics Movie or TV Show This guide will answer your most pressing questions. It's just too early to really call a trend change here. Thank Sure. Discovery in April last year. 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? And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. And I'm very, very glad that we put out some targets in the summer of last year, and we were able to hit those targets. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . Q4 revenue growth of 6% against the 12% decrease in combined operating expenses led to a significantly reduced EBITDA loss of roughly $200 million, a $500-plus million improvement year-over-year, notwithstanding a largely content-driven 6% increase in cost of revenue. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. However, we remain very enthused about the trend line here, and I have greater and greater confidence in our ability to achieve our long-term segment targets of breakeven in the U.S. in 2024 and $1 billion of profitability in 2025 globally. The Warner Bros. Television Workshop is the premier program for new writers and. All U.S. extremist mass killings in 2022 linked to far right, . 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