The post Warner Bros. Discovery Misses Earnings Estimates 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.
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]]>The post Warner Bros. Discovery Meets Quarterly Earnings Expectations 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.
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]]>The post Warner Bros. Discovery Unveils Details on New “Max” Streaming Service 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.
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]]>The post Goldman Sachs Recommends Buying Warner Bros. Discovery, Downgrades Paramount appeared first on theprimarymarket.com.
]]>In a note sent to clients on Tuesday, Feldman and his team explained that Warner Bros. Discovery is still undervalued. This is because the price doesn’t reflect the strength of the company’s streaming service, which should be one of the strongest on the market when fully integrated.
“We believe early traction with the company’s planned all-inclusive streaming service could be a positive catalyst for the stock,” said Feldman.
Goldman has put a price target of $22 on Warner Bros. Discovery stock. The company’s shares closed at $14.43 on Tuesday before trading as high as $15.27 on the following day.
As part of the note, Goldman’s analysts have downgraded Paramount Global stock from Buy to Sell. There is a concern the media and entertainment giant won’t be able to “follow through” on its strategy to make Paramount+ competitive in the streaming service market. The Paramount Global Class B shares are already down almost five percent in the past five days, closing at $24.53 per share on Wednesday.
The post Goldman Sachs Recommends Buying Warner Bros. Discovery, Downgrades Paramount appeared first on theprimarymarket.com.
]]>The post Warner Bros. Discovery Misses Earnings Estimates 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.
]]>The post Warner Bros. Discovery Meets Quarterly Earnings Expectations 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.
]]>The post Warner Bros. Discovery Unveils Details on New “Max” Streaming Service 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.
]]>The post Goldman Sachs Recommends Buying Warner Bros. Discovery, Downgrades Paramount appeared first on theprimarymarket.com.
]]>In a note sent to clients on Tuesday, Feldman and his team explained that Warner Bros. Discovery is still undervalued. This is because the price doesn’t reflect the strength of the company’s streaming service, which should be one of the strongest on the market when fully integrated.
“We believe early traction with the company’s planned all-inclusive streaming service could be a positive catalyst for the stock,” said Feldman.
Goldman has put a price target of $22 on Warner Bros. Discovery stock. The company’s shares closed at $14.43 on Tuesday before trading as high as $15.27 on the following day.
As part of the note, Goldman’s analysts have downgraded Paramount Global stock from Buy to Sell. There is a concern the media and entertainment giant won’t be able to “follow through” on its strategy to make Paramount+ competitive in the streaming service market. The Paramount Global Class B shares are already down almost five percent in the past five days, closing at $24.53 per share on Wednesday.
The post Goldman Sachs Recommends Buying Warner Bros. Discovery, Downgrades Paramount appeared first on theprimarymarket.com.
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