It's the backbone of what we're doing, and we'll keep investing. 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. For us, 2023 is a year of building. Turning to the total company EBITDA outlook. Warner Bros. Warner Bros. And we take advantage of all the content that we have. And so we -- as the largest owner and producer of content in the world, we'll -- we want to super serve effectively our streaming service, which is a top priority as well as an AVOD service so that we could reach everyone in every country, everywhere in the world. And my second question is about this pending relaunch MAX product. And we don't yet have, we think, a strong enough position in that market. It's working. Discovery CEO David Zaslav wants to redeem his predecessors' failure to rival Disney with its library of intellectual property through an unprecedented focus on tentpole events. Discovery, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City.It was formed after the spin-off of WarnerMedia by AT&T, and its merger with Discovery, Inc. on April 8, 2022.. The reality is the market is evolving so dynamically that what we are doing is as 1 team, looking at all the different windows and what our real asset is having actual distribution assets in almost every form of media, whether it be linear television, on-demand television through streaming, games, theatrical distribution, free-to-air, pay TV. Good afternoon, and welcome to Warner Bros. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. 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. Sure. I'm especially happy about the development in our D2C segment, where we delivered a marked improvement across a number of key operational KPIs leading to a healthy sequential improvement to financial performance. Discovery ( WBD) CEO David Zaslav promised 2023 will be WBD's year after the media giant reported fourth quarter earnings results that missed across the board on Thursday. That's the power of streaming. Aug 9, 2022, 8:40 AM. 2023 will be a year of building and off we go. Do your homework, find out if the casting call is legit, find out who the casting director is for the show or movie and make sure everything matches up. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. And with the breadth and depth of content that we have across the company, we think we're very uniquely able to do that without jeopardizing or risking the subscription business, the theatrical business or some of our upstream windows, which we'll obviously continue to focus on. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. The Last Of Us, for example, grew its Sunday premier night viewership by about 1 million with each episode over the first 4 weeks. And now we're -- this year, you're going to see us fighting on DC. WIZARDING WORLD Publishing and Theatrical Stage Rights J.K. Rowling. And with that, I am pleased to turn the call over to David. On direct-to-consumer, we are making meaningful progress on our goal to achieve real profitability in streaming, a key and powerful segment of our company. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. 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. You may now disconnect. And we take that across film, TV and even to sell to third parties, because we have something, we have a treasury that no one else has. #inclusion #performerswithdisabilities #Disabilityawareness And so we were able, in many ways, to Monday morning quarterback. And I'm not taking anything off the table here, but I just want to be realistic as well about what we're seeing today. And so we'll keep in mind this balance of volume versus price. 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. Number three, evaluating capital allocation opportunities with rigor, so that we can both achieve near-term efficiency and enhance long-term asset value and growth. Yes. If you could share your view on those two impacts, that would be very helpful. As always, we are not managing this company for short-term financial performance, but rather with the next 100 years of this vibrant creative organization in mind. Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. But I also think we're very well positioned to grow from here. It's about the sustainability and the longevity the free cash flow being delivered by that segment. We got to take those swings. And getting ready for our new launch. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. Warner Bros. That's not the point. Newt Scamanders relationships and past remain enigmatic, so any glimpse into his formative years will be huge for the character. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . Naturally, and as I have said before, not all of these initiatives will come to fruition or get realized to the full extent, but this represents a significant pipeline for us as components of both near-term cost out and longer-term continuous improvement. First for David, as part of the upcoming D2C relaunch, can you just talk a little bit about how you plan to balance protecting the HBO brand while at the same time, leaning on the HBO premium content to help drive the new service going forward? 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. And then we ourselves will run our own fast service. Sir, you may now begin. We continue to expect to convert 1/3 to half of EBITDA into free cash flow, as I stated earlier, with the key determinants and drivers of growth being the magnitude of EBITDA, net cash content spend, the impact of working capital initiatives, and the timing and magnitude of a trend change in the advertising market. A few weeks ago, James and Peter rolled out Phase I of their highly anticipated multiyear plan for DC Studios across film, television and animation with 5 films and 5 television series already in the works, the new era for DC under a single creative vision is in full swing, and we are especially eager to thrill fans with new Superman and Batman movies in 2025. So that is having some impact on us versus others that were -- that took a much bigger position in the upfront. We have a great hand and we're doing a lot right. 3 min read. Is this happening to you frequently? An important reference point for the value of our combined portfolio of networks to our distribution partners. That is exactly what we see happening at HBO. Every week, a new episode comes out and by the time the next one airs a week later, tens of millions of people have watched the last episode. We are not conducting any type of audition. Moreover, we're analyzing our pricing strategy in a number of key international markets, particularly in LatAm, where we believe our service has significant pricing upside. Yes, that's one important ingredient. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. Internationally, as I've said before, we look at our pricing is significantly under where we think the market is. Is there any of your content that's definitely off the table to be included in that service? 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. And we have high hopes for all of these metrics after the combined product launches to further improve. Here we have mentioned the name of the founder below here on page read it carefully. You do not need to submit this form if you've already submitted to any casting. Leta Lestrange was mentioned in the first Fantastic Beasts film as having a close friendship with Newt at Hogwarts, and her photograph was seen in Newts workshop. 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. DC Comics. We are already seeing a more inclusive range of voices and viewpoints, as demonstrated last month, when over 70 Republicans came on our air during their Congressional speaker election process, a first in a very long time, and we intend to continue advancing on this balanced strategy. We've been hard at work since our last call and look forward to updating you on our progress. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. 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. Look, the symmetry of the Discovery+ content, which is heavily viewed for hours a day, mostly during the day and infringe against the HBO content, which is watched more, Discovery+ maybe more passively, HBO, more with family, that the more research we do, the more we look at it, the more we think these fit together very well with appealing content to everybody in the family. And there's a number of uncertainties as you wouldn't be surprised to hear. And so effectively, whether you want to look at content for free, you want to look at with edge, you want to look at you want a premium that we -- you would have all that opportunity with us, and it makes sense because we have the largest TV and motion picture library in the world. And then there was a lot of content that just wasn't being viewed. Some are advertiser-driven. Discovery Inc. is suing Paramount Global, saying its competitor aired new episodes of the popular animated comedy series "South Park" after Warner paid for exclusive rights. Gunnar? Thank you, David. Elvis is a 2022 biographical drama film directed by Baz Luhrmann and written by Luhrmann, Sam Bromell, Craig Pearce, and Jeremy Doner.It follows the life of the American rock and roll singer and actor Elvis Presley, told from the perspective of his manager, Colonel Tom Parker.It stars Austin Butler as Presley with Tom Hanks as Parker, while Olivia DeJonge, Helen Thomson, Richard Roxburgh . We're assuming that. Discovery CEO David Zaslav said the retooling of CNN 'isn't going to happen overnight.'. And Lord of the Rings, which is a fantastic franchise, Andy Jassy was pushing on it at Amazon with a lot of success, but we own those movie rights. We continue to be the place creators are choosing to bring their visions to life. As expected, performance was negatively impacted by lower TV licensing revenues against a very tough comp last year, something well face again in the first quarter of 2023. filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID We have profitable subscribers that are very happy with the product offering of Discovery+, why would we shut that off. 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. 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. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . As you look out to '23, I think Gunnar kind of touched on some of the potential tailwinds, but it sounds like you're walking away from close to $12 billion in EBITDA to maybe low to mid-$11 billion in EBITDA. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. People want to be part of something. Discovery The move is part of CEO David Zaslav's self-imposed mandate to find $3 billion in synergies between the two companies. Discovery experienced a staggering USD 2.1 billion financial setback. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. We are also advantaged by the fact that our U.S. networks average 30% of all nightly cable viewers in the key 25 to 54 demo. Discovery is a storytelling company and we are very fortunate to have a huge share of the most beloved and globally recognized storytelling IP in the world, including Harry Potter, Game of Thrones, Superman, Batman, Lord of the Rings, and we intend to take full advantage of these one-of-a-kind franchises across our various platforms. Join the Fan Club and bring your traits with you. We're also thrilled by what we're seeing coming out of our games business, which represents a core part of our overall strategy. Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . Your email address will not be published. And why should we need to monetize that in order to drive shareholder value. 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. On the 12th, we'll lay out to you, we have a clear attack plan, where we'll drive this really across the country and into markets around the world with conviction. Open casting calls are something of a tradition in the Wizarding World. Q&A session is now closed, which concludes today's conference. We work, grow and create world class content in one of the biggest, busiest studio lots in the industry, as well as at countless studios, sets and offices around the globe. from casting calls to the lure of the red-carpet award season. 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. And I think our diversity, we have all these different assets that have -- that are different. And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. I'll talk more about that in a minute. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And we've got a time-tested approach to cross promotion, and we're adjusting that right now to the larger portfolio and the larger number of assets that we're promoting. Thank you for attending today's presentation. Two questions. And we're able to align our networks on a coterminous basis with these distributors. We have a lot of motion picture content that we're reworking and making a lot of progress with. But the digital inventory, which really held up in the fourth quarter has also softened. View this post on Instagram We are committed to continue executing our strategic initiatives to drive top line performance and with much repositioning behind us, we are beginning to fully lean into the opportunities ahead of us. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. Warner Bros. Discovery's earnings are expected to grow from $0.97 per share to $1.79 per share in the next year, which is a 84.54% increase. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. A year-over-year increase in corporate expenses were due to a number of factors, almost exclusively related to external market factors such as an incremental $120 million related to underlying rates on our securitization facility. 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. 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. We'll definitely -- we're definitely planning for revenue improvement. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. I can't wait for The Flash to hit the theaters in June. And that is the culture here at Warner Bros. Adjusted EBITDA decreased 7% as revenue declines were partially offset by lower content expenses as well as lower personnel and marketing costs, in part reflecting our cost synergy efforts. But the other key is that we have the largest TV and motion picture library and we're the biggest producer of quality content in the world. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. Nov 3, 2022 2:02pm PT Warner Bros. How much do you feel like is more reflective of some of the underlying trends that just have to do with ratings declines or core cutting and those types of trends? On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - March 10, 2022 684 0 Advertisements On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice Advertisements It was a heavy lift to bring 2 teams together, notwithstanding the economy being what it was, and we are now drilling down on all facets of the business. We do expect the cash cost to achieve synergy and transformation efforts will be around the higher end of our $1 billion to $1.5 billion guide given the expanded synergy target, some of which possibly hitting in 2024. HBO has never been stronger and is firing on all cylinders behind the recent successes of HBO Originals, Euphoria, House of the Dragon, White Lotus, and our newest mega hit, The Last Of Us. You had 6% growth this quarter, a lot of that from advertising and content, but do you need revenue growth to accelerate in order to deliver that $1 billion? We want to tell the best stories, share them with the broadest audience possible, and we do that by working together as 1 team, 1 company. During the WBD quarterly earnings call, Zaslav . But in addition, we want to run this company to drive free cash flow and the ability to monetize a lot of the content that isn't critical to subscriber growth. Content alone is really only half of the equation. To participate in the Warner Bros. He presented that to you and the press about a month ago. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. Channing is the best example of that. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. Note that merger and integration-related cash costs totaled nearly $150 million in Q4 and nearly $800 million for the year, in addition to a nearly $350 million headwind from securitization and factoring since the closing of the deal in early April. We have the largest maker and seller of content in the world, and while we've got lots more to do, we are increasingly seeing positive traction and strong proof points. So I think that I'm hyper-focused on this, meeting once a week with the team, but getting our stride as a new working team, and I feel like we're starting to get some momentum on that. CAB Castings, LLC. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. Discovery. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. Our next question comes from Ben Swinburne with Morgan Stanley. And so you put the Discovery+ and HBO Max proposition together at a great value, and we think we deliver something that ultimately has something for everybody in the household, which will help us on scale and help us on churn, which are the two major ingredients we're focused on as well as obviously engagement. So again, as I said, a similar picture with more diversity. Just what should we expect in terms of '23 versus '22? And we've lapped that now, and we're seeing some growth now. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. The advertising environment in the U.S. remains very . Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. In addition to all of our entertainment and nonfiction, we do have all of our news and sports. And we're doing it in a very tasteful way by putting it on the very front end. And while we are comping the Winter Olympic Games in Q1, which we expect will account for roughly 100 basis point headwind to our global advertising growth rate, we see underlying international trends modestly improving. The Voice, the #1 most watched unscripted show on network TV. I believe Warner Bros. TV is the greatest quality maker of content in the world. Webcast. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. Today, I'm thrilled to announce that Mike and Pam signed a deal to make multiple Lord of the Rings movies. And the best thing that we have going for us right now is all of that hard work that we did, and it was probably two years of work that we did in 10 months, it's now almost -- it's overwhelmingly behind us. Discovery's Q4 Earnings Call. Margot Robbie, who plays Barbie, is instantly as Barbie-esque as you could imagine, all blond hair and smiles and bright pink car. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. In every country, they'll leave dinner and they got to go home to view that product that they love. The Roku and the Tubi deal was really just a toe in the water, if you will, 14 channels, a beginning for us, but there'll be more to come as we go through the year, and we do want to have a bigger presence in that space because we do see consumer behavior continuing to shift and having a very robust amount of consumers around the world, who will want to consume ad-supported content. In Harry Potter and the Deathly Hallows, readers learned that Albus and Gellert were once friends, before becoming arch-rivals. Your email address will not be published. And that isn't critical to or helpful to churn. To celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September,. Ensure this doesnt happen in the future, please enable Javascript and cookies in your browser being! Seeing some growth now we look at our pricing is significantly under where we,. Relaunch MAX product performance, improved user experience and stronger engagement diversity, we do n't have. 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