The streaming giant’s disappointing financial performance has been largely attributed to the absence of blockbuster releases over the past few months. This is still a spillover from the Hollywood strikes that took place last year which led to widescale production halts as well as delays in post-production works.

Although customers’ gravitation towards streaming has benefitted Warner Bros, Discovery’s streaming business, the company’s cable business has suffered as a result, with customers increasingly abandoning their linear TV packages. By the end of the quarter, Warner Bros. Discovery had 97.7 million global streaming customers, up from 95.1 million at the end of the previous quarter.

The post Warner Bros. Discovery Misses Earnings Estimates appeared first on theprimarymarket.com.

Free cash flow for the quarter was $2.06 billion, exceeding both the $1.72 billion in the previous quarter and analysts’ estimates of $1.74 billion. Advertising revenue at its network segments, which was rocked by a persisting inflation crisis and global geopolitical tensions, slumped 12% to $1.71 billion.

Although Hollywood’s film and television writers ratified a new three-year agreement in September to bring an end to the strike action, the SAG-AFTRA actors union launched a strike of its own in July that has persisted. This strike has largely disrupted the 2024 film calendar and is severely limiting the amount of new content that media companies are able to sell.

The post Warner Bros. Discovery Meets Quarterly Earnings Expectations appeared first on theprimarymarket.com.

Max will consist of content from both the HBO Max and Discovery+ streaming platforms. CEO David Zaslav is looking to launch this new unified platform as a means of giving subscribers access to Warner Bros. Discovery’s broad content portfolio, thereby using the company’s diverse range of programming to expand its customer base.

The new platform will offer three subscription tiers. For $9.99 per month, users will have access to the ad-supported version, for $15.99 per month, users will be able to make use of the ad-free version, while $19.99 per month gives users access to the “ultimate” ad-free tier, which offers up to four concurrent streams and 4K streaming options. Aside from the “ultimate” tier, the other tiers all match current HBO Max pricing.

Max is the one to watch [because] its the place every member of the household can go to see whatever they want at any given time,” Zaslav said. The service will launch on May 23.

The post Warner Bros. Discovery Unveils Details on New “Max” Streaming Service appeared first on theprimarymarket.com.

According to the company’s top streaming executive Jean-Briac Perrette, the multimedia and entertainment giant aims to create a streaming service that will offer “something for everyone in the household.” That is certainly achievable by merging the HBO Max and Discovery+ libraries since the subscribers will be able to enjoy movie franchises like Harry Potter and shows like Friends but also reality shows like Deadliest Catch, Naked and Afraid, and many more.

HBO Max and Discovery+ currently have 92 million subscribers combined. Warner Bros Discovery’s goal is to have 130 million on the merged streaming service in 2025. If achieved, the number would allow the new streamer to remain competitive with powerhouses like Netflix and Disney+.

While the details about the merger are scarce, the company did confirm that the new streaming platform will be available in the United States in the summer of 2023. It will roll out in Latin America by the end of the next year before arriving in Europe and Asia in 2024. There are also early plans for a free streaming service that would be supported by ads.

Warner Bros Discovery stock has been hit hard by recent Q2 misses, taking a 16.56% dive on Friday. It is currently 42.80% down year to date.

The post HBO Max and Discovery+ to Merge in a Single Streaming Service appeared first on theprimarymarket.com.

The streaming giant’s disappointing financial performance has been largely attributed to the absence of blockbuster releases over the past few months. This is still a spillover from the Hollywood strikes that took place last year which led to widescale production halts as well as delays in post-production works.

Although customers’ gravitation towards streaming has benefitted Warner Bros, Discovery’s streaming business, the company’s cable business has suffered as a result, with customers increasingly abandoning their linear TV packages. By the end of the quarter, Warner Bros. Discovery had 97.7 million global streaming customers, up from 95.1 million at the end of the previous quarter.

The post Warner Bros. Discovery Misses Earnings Estimates appeared first on theprimarymarket.com.

Free cash flow for the quarter was $2.06 billion, exceeding both the $1.72 billion in the previous quarter and analysts’ estimates of $1.74 billion. Advertising revenue at its network segments, which was rocked by a persisting inflation crisis and global geopolitical tensions, slumped 12% to $1.71 billion.

Although Hollywood’s film and television writers ratified a new three-year agreement in September to bring an end to the strike action, the SAG-AFTRA actors union launched a strike of its own in July that has persisted. This strike has largely disrupted the 2024 film calendar and is severely limiting the amount of new content that media companies are able to sell.

The post Warner Bros. Discovery Meets Quarterly Earnings Expectations appeared first on theprimarymarket.com.

Max will consist of content from both the HBO Max and Discovery+ streaming platforms. CEO David Zaslav is looking to launch this new unified platform as a means of giving subscribers access to Warner Bros. Discovery’s broad content portfolio, thereby using the company’s diverse range of programming to expand its customer base.

The new platform will offer three subscription tiers. For $9.99 per month, users will have access to the ad-supported version, for $15.99 per month, users will be able to make use of the ad-free version, while $19.99 per month gives users access to the “ultimate” ad-free tier, which offers up to four concurrent streams and 4K streaming options. Aside from the “ultimate” tier, the other tiers all match current HBO Max pricing.

Max is the one to watch [because] its the place every member of the household can go to see whatever they want at any given time,” Zaslav said. The service will launch on May 23.

The post Warner Bros. Discovery Unveils Details on New “Max” Streaming Service appeared first on theprimarymarket.com.

According to the company’s top streaming executive Jean-Briac Perrette, the multimedia and entertainment giant aims to create a streaming service that will offer “something for everyone in the household.” That is certainly achievable by merging the HBO Max and Discovery+ libraries since the subscribers will be able to enjoy movie franchises like Harry Potter and shows like Friends but also reality shows like Deadliest Catch, Naked and Afraid, and many more.

HBO Max and Discovery+ currently have 92 million subscribers combined. Warner Bros Discovery’s goal is to have 130 million on the merged streaming service in 2025. If achieved, the number would allow the new streamer to remain competitive with powerhouses like Netflix and Disney+.

While the details about the merger are scarce, the company did confirm that the new streaming platform will be available in the United States in the summer of 2023. It will roll out in Latin America by the end of the next year before arriving in Europe and Asia in 2024. There are also early plans for a free streaming service that would be supported by ads.

Warner Bros Discovery stock has been hit hard by recent Q2 misses, taking a 16.56% dive on Friday. It is currently 42.80% down year to date.

The post HBO Max and Discovery+ to Merge in a Single Streaming Service appeared first on theprimarymarket.com.