{"id":123206,"date":"2024-11-07T20:45:05","date_gmt":"2024-11-07T13:45:05","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=123206"},"modified":"2024-11-07T20:45:05","modified_gmt":"2024-11-07T13:45:05","slug":"warner-bros-discovery-wbd-earnings-q3-2024","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=123206","title":{"rendered":"Warner Bros. Discovery (WBD) earnings Q3 2024"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108017732\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Jakub Porzycki | Nurphoto | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/WBD\/\">Warner Bros. Discovery<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter.<\/p>\n<p>It marked the biggest quarterly growth for the streaming platform since its inception. Max now has 110.5 million subscribers as of Sept. 30. Warner Bros. Discovery&#8217;s flagship streaming service has been growing its subscriber base at a fast clip this year since expanding internationally during the first half.<\/p>\n<p>The streaming business has become a bright spot for Warner Bros. Discovery as its traditional TV networks have been pressured by cord cutting and a soft advertising market. Last quarter, Warner Bros. Discovery <a href=\"https:\/\/www.cnbc.com\/2024\/08\/07\/warner-bros-discovery-wbd-earnings-q2-2024.html\">reported<\/a> a $9.1 billion write down on its TV networks.<\/p>\n<p>On Thursday, <a href=\"https:\/\/s201.q4cdn.com\/336605034\/files\/doc_earnings\/2024\/q3\/earnings-result\/WBD-3Q24-Earnings-Release.pdf\" target=\"_blank\" rel=\"noopener\">Warner Bros. Discovery reported third-quarter results<\/a> that showed revenue decreased 4% to $9.62 billion compared to the same period last year. Total adjusted earnings before interest, taxes, depreciation and amortization were down 19% to $2.41 billion.<\/p>\n<p>TV networks revenue rose 3% to $5.01 billion compared to last year, despite declines in both distribution and advertising revenue for the segment. Studios segment revenue dropped 17% to $2.68 billion, with theatrical revenue falling 40%, excluding the impact of foreign currency exchange, due to the lower box office performances of &#8220;Beetlejuice Beetlejuice&#8221; and &#8220;Twisters&#8221; compared to that of &#8220;Barbie&#8221; last year.<\/p>\n<p>However, the streaming business&#8217;s revenue increased 8% to $2.63 billion, driven by an increase in global subscribers, higher advertising revenue and global average revenue per user. Adjusted EBITDA for the segment was $289 million, an increase of $178 million compared to last year.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\"><a id=\"headline0\"\/>Subscriber growth<\/h2>\n<div class=\"group\">\n<p>While Wall Street has turned its attention to streaming profits in favor of subscriber growth, media companies have been nonetheless been reporting customer additions so far this quarter.<\/p>\n<p>In October, streaming giant <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/NFLX\/\">Netflix<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> <a href=\"https:\/\/www.cnbc.com\/2024\/10\/17\/netflix-nflx-earnings-q3-2024.html#:~:text=Netflix%20posted%20third%2Dquarter%20earnings,core%20series%20and%20films%20offerings.\">reported<\/a> 5.1 million subscribers additions during the quarter, propelled by its ad-supported plan and beating Wall Street expectations. In total, Netflix now has 282.7 million memberships.<\/p>\n<p>However, beginning in 2025, Netflix will no longer update investors on its subscribers numbers as it shifts focus toward revenue and other financial metrics as performance indicators.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\"><a href=\"https:\/\/www.cnbc.com\/quotes\/CMCSA\/\">Comcast&#8217;s<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> streaming platform Peacock <a href=\"https:\/\/www.cnbc.com\/2024\/10\/31\/comcast-cmcsa-earnings-q3-2024.html\">added<\/a> 3 million subscribers during its third quarter \u2014 spurred by the Summer Olympics in Paris \u2014 bringing its total to 36 million as of Sept. 30.<\/p>\n<p>In August, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\"><a href=\"https:\/\/www.cnbc.com\/quotes\/DIS\/\">Disney<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> reported that Disney+ Core subscribers \u2014 which excludes Disney+ Hotstar in India and other countries in the region \u2014 increased by 1% to 118.3 million, despite the company&#8217;s earlier guidance that it wouldn&#8217;t add new customers during the fiscal third quarter.<\/p>\n<p>Disney&#8217;s Hulu saw subscribers increase 2% to 51.1 million. Disney <a href=\"https:\/\/thewaltdisneycompany.com\/disneys-q4-fy24-earnings-results-webcast\/\" target=\"_blank\" rel=\"noopener\">reports<\/a> its next quarterly earnings on Nov. 14.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-10\"><a href=\"https:\/\/www.cnbc.com\/quotes\/PARA\/\">Paramount Global&#8217;s<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> streaming division <a href=\"https:\/\/www.cnbc.com\/2024\/08\/08\/paramount-global-para-q2-earnings-report-2024.html\">swung<\/a> to an unexpected profit last quarter. Still, its Paramount+ streaming platform dropped 2.8 million subscribers to 68 million as it unwound a Korean partnership deal. Paramount reports quarterly earnings on Friday.<\/p>\n<p><em>Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. Comcast is a co-owner of Hulu. NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.<\/em><\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/11\/07\/warner-bros-discovery-wbd-earnings-q3-2024.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jakub Porzycki | Nurphoto | Getty Images Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=123206\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-123206","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123206"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123206\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=123206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=123206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}