The studio is the flagship producer of live-action feature films within Warner Bros. Discovery. We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. Q4 revenue growth of 6% against the 12% decrease in combined operating expenses led to a significantly reduced EBITDA loss of roughly $200 million, a $500-plus million improvement year-over-year, notwithstanding a largely content-driven 6% increase in cost of revenue. And we're seeing some real opportunity here. Moreover, the exit rate coming out of the fourth quarter lends confidence in continued very strong financial performance thus far in Q1 and into our soon-to-be relaunched D2C offering. Our next question comes from Ben Swinburne with Morgan Stanley. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. Discovery Is America's Worst-Run Company,Mismanagement has ruined whatever success Warner Bros. August 4, 2022 04:30 PM ET. We've gone through a couple of the puts and takes here. And then on the affiliate side, renewing 30% of your affiliate deals. It comes after HBO and HBO. Young Sheldon, network TV's #1 comedy. We've been hard at work since our last call and look forward to updating you on our progress. Disclaimer: Audition free of cost for more information visit the respective official site. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. And so we were able, in many ways, to Monday morning quarterback. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. And so selling that to drive free cash flow and to nourish the overall segment, so that we, as a media segment, can be successful is important. Among them, the integration and repositioning of our global finance organization through which we implemented a number of initiatives to drive efficiency and better support the company's long-term sustainable growth. And after just 5 weeks, an astounding 35 million people have watched episode 1. Discovery. Batman Day - September 17, 2022. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. And I have no doubt that when the market turns, we're going to be in a very, very good position to capture that upswing as well, especially, as David mentioned, with more inventory on the digital side becoming available here, which last year was sort of a limiting factor for us. Warner Bros. TV Group chairman Channing Dungey, in a memo to employees, explains cuts that will lead to the loss of 125 positions (including 43 vacant slots) - 26% of the division's total workforce. Here we have mentioned the name of the founder below here on page read it carefully. The reality is, in today's environment, I think it would be -- you wouldn't want us to say we have a static a 100% defined windowing strategy. The market is -- the macro environment is very challenging. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. CASTING SUBMISSION - Actors & Extras Warner Bros. Kathleen is doing a lot of work, getting the enormous value of our library on screen. We are more confident than ever that we have the right strategy to be successful and ultimately achieve our goal of being the greatest media and entertainment company in the world. And regarding the linear affiliate renewals, as we've said a couple of times that we're very happy with how those discussions went, is a clear testament to the importance and the value that our network portfolio is delivering to our affiliates. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. The Hogwarts game, we took several additional months to rework it, to get it right. However, we remain very enthused about the trend line here, and I have greater and greater confidence in our ability to achieve our long-term segment targets of breakeven in the U.S. in 2024 and $1 billion of profitability in 2025 globally. I saw it and loved it. We continue to be the place creators are choosing to bring their visions to life. We've accomplished a significant amount in 2022, and I'd like to take this opportunity to thank the entire finance team for their persistence and resolve in working through these very difficult but necessary first steps, which has resulted in greater command, control and precision across the enterprise and laid the foundation on which we are positioning the company. Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. - David Spade, 'Nothing Personal' 2022. Discovery CEO David Zaslav attends NRDC's "Night Of Comedy" Honoring Anna Scott Carter at Casa Cipriani on September 20, 2022 in New York City. And so I think that is key to us in terms of building the long-term strength. Again, creating shows that people want to watch. Cast: Dwayne Johnson, Keanu Reeves, Joh Krasinski, Kate McKinnon, Natasha Lyonne, Kevin Hart, Diego Luna, Jameela Jamil, Vanessa Bayer, Marc Maron About: Krypto the Super-Dog (Johnson) and Superman (Krasinski) are inseparable best friends, sharing the same superpowers and fighting crime in Metropolis side by side. And we are excited for Mike and Pam to lead the studio into its next chapter, which in 2023, will see output more than double. You're going to see us fighting at Warner Bros. on the Motion Picture side, in order to really -- I think there's a huge opportunity on the Warner Bros. Motion Picture side for investment in quality content and storytelling. But as David said, we've got sports and news that today are really untapped in the streaming world, and those are optionality for what we might be willing to do in the future, and we'll share more of that on the 12th with you with more detail. They have great plans to revitalize the nets and have also begun to use our exceptional library of film and television content in a way that will benefit our linear and cable networks. Really trying to understand how much of the ad impact that you're seeing is kind of coming from the macro environment? And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. Thank you for attending today's presentation. Our next question comes from Kutgun Maral with RBC Capital Markets. WBD 15.42 +0.67 Warner Bros. We have command and control of each of the businesses. An important reference point for the value of our combined portfolio of networks to our distribution partners. In all that we do, we are guided by three strategic pillars. To participate in the Warner Bros. Studio. Warner Bros. How to Get Cast On How to Get Cast in a DC Comics Movie or TV Show This guide will answer your most pressing questions. We can take you into the theater around the world. Discovery in which we took some pivotal initial steps. The best way to drive interest and engagement is not by dropping the entire season on a platform all at once, but by allowing the buzz and anticipation to build over time. Global core subscribers increased 1.1 million sequentially and 10 million year-on-year, while global ARPU increased as well modestly to $7.58. Well, look, for us, the market right now, our focus is building a best-of-class product and putting all of our content together and so that it's easy to consume and that people are aware of all the different content that we have. And one of the tenets is we're not going to launch any content before it's time. And to that point, I have no doubt that we have years and years of that coming our way. media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . Here through this post, we are also providing complete necessary details about the Warner Bros Pictures Casting Directors Dates Roles. We believe that when you have content that is so good that it hits the gist. More on this from Gunnar in a minute, but I'm pleased with the trend line we see in Q1, particularly as we are managing towards close to breakeven segment EBITDA in the quarter. The Voice, the #1 most watched unscripted show on network TV. We repaid $1 billion of debt during Q4, bringing the total debt repaid since the closing of the transaction to $7 billion, and we ended the quarter with $49.5 billion gross debt and nearly $4 billion of cash on hand, implying net leverage just below 5x. The creative co-lead and co-chairman of DC Studios have confirmed the entertainment studio is separate from Warner Bros. Pictures Group As per CBR via the social news aggregate website, Reddit . The fourth quarter marked the end of a first and very defining chapter for Warner Bros. That's what led us to the conclusion that direct to streaming movies were providing really no value to us. And on the 2023 outlook, look, it's early in the year. The game was 1 of the most highly anticipated of 2023. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. It's significantly better outside the U.S. right now, which is a surprise. At Warner Bros. . To apply for the Fantastic Beasts open casting call, email [emailprotected] with a recent colour photograph, (i.e., taken within the last two months), contact telephone number, your home address and date of birth. The long-term earnings and free cash flow generation potential of this company are stronger than ever, particularly after having taken some courageous and crucial first steps this past year. And so we want to optimize that as a unified strategy for the company. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. I think the focus for many of us is usually each company's top profitability, but maybe there's not enough attention to the fact that each of these moves could have pretty dramatic impacts to the industry and competitive landscape. And then there was a lot of content that just wasn't being viewed. Yes, that's one important ingredient. We were able to put that to work behind some of cases launches, behind some of our film launches. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. Appreciate all the information you just shared. 53 min read Participants Andrew T. Slabin; EVP of Global Investor Strategy; Warner Bros. TM & WBEI. The 99-year-old movie studio, home to Harry Potter, Batman and Bugs Bunny, will now head in a. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. No. We got some of the best creatives in the industry right now focused on those swings. The guidance does not include any asset sales. [Operator Instructions] Our first question comes from Jessica Reif Ehrlich with Bank of America. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. In answering that question, you reiterated something you'd said before, which was an intent to fold the Discovery content into the new product. The layoffs represent 14% of Chief Content Officer Casey Bloys' staff, and the eliminated positions are primarily focused on reality content, though other departments including casting and acquisition will also be impacted. Warner Bros. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. Storytelling content is most powerful when you're watching it and then you're with others, either in a theater, or you're able to talk about it either online or with your friends, that's the power of content, not when you're viewing content alone. Warner Bros. This phenomenon can go for eight, 10-plus weeks for each series. With the successful launch of Hogwarts Legacy 2 weeks ago, we reimagined 1 of the biggest global franchises in the world. Internationally, as I've said before, we look at our pricing is significantly under where we think the market is. Or is that something that might fuel that service? I do believe, as JB said, and we do believe, as a company, that we'll sort of recreate this -- the streaming service, which is ad free, then which -- then there'll be ad-lite. This year, we celebrate the storied Warner Bros. Studios 100th anniversary with a deepened commitment to telling quality, diverse stories, with the power to entertain, inspire, and when we are at our best, impact or even change the culture. So there was 60% that was hardly being viewed. I think it could and should be huge because it wasn't being pushed on. And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. CAB Castings, LLC. Is that something you're able to comment on now? On FAST, look, the strategy is, I think, back to some of the questions earlier, at the end of the day, one of the advantages we feel like we have is the question keeps coming up about windowing. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. No, I was just going to say that as David has said before, I think the industry obviously was at a scale at any cost. W arner Bros. Pictures and the filmmakers behind the Fantastic Beasts sequel are holding open calls for five young actors to join the cast of the film. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. We've heard the word curated. And when you tell them a great story and they get to experience it with others, either in a packed theater or on a Sunday night, it really is magic. Sep 2, 2021 Seeking young performers for Nickelodeon's nationwide (US and Canada) Performers with Disabilities Open Call! I think the focus right now is obviously continuing to on the expanded entertainment offering, and we think the complementary of the HBO Max and Discovery+ entertainment offering is significant and will be a major step forward for consumers, who are looking for simplified number of choices, more breadth of options in terms of content all in 1 place and for good value. 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