"Streaming revenue increased 7% YoY to $2.9 billion, while advertising revenue grew another 19% to $284 million, thanks to a continued increase in global ad-lite subscribers. In his opening remarks, Zaslav said that he sees "nothing but strong growth" ahead for HBO Max, which he considers to be a "global high growth asset.""
"Total advertising revenue came out to $1.8 billion for the quarter, a year-over-year decrease of around 8%. Just as in Q4 of last year, this dip was attributed to the absence of the NBA, as well as declining domestic linear audiences."
Warner Bros. Discovery held its first earnings call following its agreement to be acquired by Paramount SkyDance. Total revenue decreased slightly to $8.9 billion from $9 billion in the prior quarter. Advertising revenue declined 8% year-over-year to $1.8 billion, attributed to the absence of NBA programming and declining domestic linear audiences. However, the streaming business showed stronger performance, with streaming revenue increasing 7% year-over-year to $2.9 billion and advertising revenue growing 19% to $284 million. HBO Max, which houses award-winning content including multiple Oscar winners, is positioned as a key growth asset despite a 27% decline in streaming content revenue. CEO David Zaslav expressed confidence in future streaming growth opportunities.
#warner-bros-discovery-earnings #streaming-revenue-growth #advertising-decline #paramount-skydance-acquisition #hbo-max-performance
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