![]() Speaking of the merger, Zaslav announced that the new HBO Max/Discovery+ streaming service would launch in the next few months. And together, we are focused on making our businesses better and stronger,” Zaslav said during the earnings call. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. We have full command and control of our business, and we are one company now. “We took bold, decisive action over the last 10 months, and the bulk of our restructuring is behind us. Netflix, on the other hand, has turned a profit. However, HBO Max and Discovery+ have yet to become profitable for WBD - which puts it in the same boat as other media companies. The company recently announced that “The Last of Us” would get a second season. ![]() The new addition of HBO Max subscribers was mainly driven by the streaming service returning to Amazon Prime Video Channels, as well as the debuts of popular shows like “ The Last of Us” and the second season of “The White Lotus,” which won 10 Emmys and two Golden Globe awards. WBD is still behind streaming giant Netflix, which boasts 230 million global subscribers. WBD also missed expectations last quarter, only gaining 2.8 million subscribers rather than the anticipated net add of 3.27 million. Plus, the company failed to beat subscriber estimates, adding just 1.1 million subs across HBO, HBO Max and Discovery+, versus a predicted 1.6 million net additions, bringing the new total to 96.1 million. Also, the streaming segment increased by 6% in revenue at $2.45 billion, beating Wall Street forecasts of $2.39 billion. The company just barely missed analysts’ estimates of nearly $11.36 billion in revenue, earning $11 billion - a significant jump from $9.82 billion in Q3 2022. ![]() ![]() This is despite the company touting the success of its new original series “ The Last of Us,” which averaged over 15 million viewers, and the recently launched video game Hogwarts Legacy, which saw more than $850 million in retail sales in just two weeks. Discovery (WBD) reported underwhelming Q4 results yesterday, revealing a net loss of another $2.1 billion, including $217 million from its streaming division. ![]()
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