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April 02, 2023
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And to that point, I have no doubt that we have years and years of that coming our way. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. August 15, 2022 10:20am. And back then, you had to watch the show on Thursday night. 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 . FAST is one area that as we look at the evolution of consumer behavior, we look at obviously a lot of the free-to-air viewing moving to what we call free-to-view online. Discovery and sort of the earnings power of the organization? Can you talk a little bit about the revenue outlook for D2C? Thank you for attending today's presentation. 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? We believe that when you have content that is so good that it hits the gist. Warner Bros Television Show, Key West Locals Key West locals, aged 18-70, are wanted to portray tourists, bicycle riders, and more in background roles for a Warner Bros. television project.. In today's increasingly dynamic and a crowded media environment, the best hand has great storytelling IP, brilliant creatives, a full slate of production and distribution capabilities, and broad global reach that stretches across premium, pay TV, free-to-air, theatrical, streaming, licensing and gaming, the entirety of the ecosystem, and that is exactly the hand that we have, and we intend to play it decisively and with a focus on free cash flow and an eye towards sustainable future growth. During the WBD quarterly earnings call, Zaslav . Our next question comes from Kutgun Maral with RBC Capital Markets. Distribution revenues on the whole were impacted primarily by subscriber declines in the U.S. and lower affiliate rates in certain European countries, while larger contractual rate increases in the U.S. and premium sports packages in Latin America helped to offset part of this impact. And then on the affiliate side, renewing 30% of your affiliate deals. Is there -- what are you considering? 53 min read Participants Andrew T. Slabin; EVP of Global Investor Strategy; Warner Bros. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. Passionate about supporting Creatives to develop, produce . All the meetings that I've had in the last two weeks are about great content that we're producing, meeting with creatives that want to come here, how we -- what more shows are we going to be selling, what more shows are we going to be keeping on our platform? And so we want to optimize that as a unified strategy for the company. I mean, pot levels in the industry, I think, were down 14% in the quarter. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. Reportedly Cancels 'Wonder Woman 3' Warner Bros. For us, 2023 is a year of building. DC Comics. During the fourth quarter of 2022, Warner Bros. I believe Warner Bros. TV is the greatest quality maker of content in the world. 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. 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's working. Today, I'm thrilled to announce that Mike and Pam signed a deal to make multiple Lord of the Rings movies. And getting ready for our new launch. 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. It's just too early to really call a trend change here. Warner Bros. Television Group has more than 110 shows currently in production across our own platforms as well as third-party broadcast, cable and streaming outlets, including Emmy Winners, Ted Lasso and Abbott Elementary. So I know it's a pretty open-ended question, but can you talk about how you see the streaming industry evolving overall with these changes? With me today is David Zaslav, President and CEO; Gunnar Wiedenfels, our CFO; and JB Perrette, CEO and President, Global Streaming and Games. Stay tuned for more to come on this front. But curation, creating content at a time when people can watch it, creating a community conversation. The sentiment is not terrific. There's loads of content out there. In addition to less activity in home entertainment, given the leaner theatrical release schedule in 2022, which was very much a result of deliberate decisions we made about specific titles and overall release dates. And then for Gunnar or JB, can you maybe just expand upon your fast strategy and why you chose to do the deal with Roku and Tubi and maybe how that might impact the launch or timing of your own fast service? Look, I mean on the content spend, Remember, all our strategy changes leading to the content restructuring and write-offs over the course of last year, obviously, that's going to flow through cash as well as we adjust. And then obviously, with the new product, we just look at some of the features that we're going to be rolling out and some of the improved and enhancements from a performance standpoint in the product at a much higher engagement, which will help both our ad-lite monetization, including, as David mentioned earlier, the fact that we're now putting ads and all the content on HBO Max as opposed to just some of the content on HBO Max, all those will be part of the revenue drivers in addition to obviously having the rights like we talked about before, for all of our sports in the U.S. and news content eventually that could also help us drive further scale and pricing in the years ahead. And I think our diversity, we have all these different assets that have -- that are different. The Voice, the #1 most watched unscripted show on network TV. Q&A session is now closed, which concludes today's conference. Is that -- it sounds like you guys have, on the one hand, a lot of new programs, a lot of new movies and a lot of new initiatives; but at the same time, pulling some content on the floor. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. That's what we're looking to primarily deliver. In recent weeks, we signed new deals with a number of the most prolific and celebrated creatives in the industry, including Greg Berlanti, Baz Luhrmann, M. Night Shyamalan, Akiva Goldsman and Zach Cregger with more to come. The dreaded post-merger Warner Bros Discovery layoffs have reached the programming operation overseen by HBO and HBO Max Chief Content Officer Casey Bloys. Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . Of course, the other stipulations include being "willing and available" to film for the duration of the series which could be as long as 12 weeks and will commence around mid-June to mid-August of 2021. We can put you on HBO on a Sunday or Monday night, where it's must see streaming TV or we could have to we've launched your movie. And we hit this year with a full leadership team in place. We've rightsized the content investments. Well, look, we were laser-focused on building this DC 10-year plan. Newt Scamanders relationships and past remain enigmatic, so any glimpse into his formative years will be huge for the character. I'll just take a swing at it, Gunnar, you can follow. Kathleen is doing a lot of work, getting the enormous value of our library on screen. That is exactly what we see happening at HBO. And then on the cost side, all of the trends are pointing in the right direction. 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 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 there was 60% that was hardly being viewed. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. I remain very optimistic about the range of potential outcomes in 2023 and beyond. She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. It's working. People want to be part of something. 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. With that, I'll turn it over to Gunnar, and he'll walk you through the financials for the quarter. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. I am proud of what we achieved in 2022 against the targets we set out in the summer and against an increasingly challenging environment in the second half of the year, and I'm proud of the momentum we have built exiting the year. 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. And one of the tenets is we're not going to launch any content before it's time. Sorry, Robert. We haven't done new Harry Potter content in over a decade. Good afternoon, and welcome to Warner Bros. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. In every country, they'll leave dinner and they got to go home to view that product that they love. Join the Fan Club and bring your traits with you. We met with 186 of the top leaders in -- for a week in early January. The casting of their teenage incarnations as well as those of Newt and Leta will be sure to intrigue Harry Potter fans, and drive further speculation about the next films story. Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. At Warner Bros. It's -- those three of the tentpole products that when someone's at dinner anywhere in the world, and they look at their watch at 8:00 and you mention Batman, Superman, Wonder Woman, Harry Potter, Lord of the Rings. 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. 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. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. 4 talking about this. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. No. Our next question SP1 Comes from Robert Fishman with SVB MoffettNathanson. We see price as a very important second part. That's not the point. 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. And the newest hits, Night Court on NBC and Shrinking on Apple TV. We believe strongly in the importance of the motion picture window and having that shared experience with other people. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . John Oliver poked at HBO's parent company, Warner Bros. Nowhere is this more important in my view, and it isn't going to happen overnight, and I believe we are on the right path. 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. 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 we don't yet have, we think, a strong enough position in that market. We said starting last August, we believe in profitable scale. Operator. Sir, you may now begin. ET Follow HBO Max Go to Site Follow HBO Go to Site Follow Warner Bros. Go to Site Follow HGTV Go to Site Follow Discovery Go to Site Follow discovery+ Go to Site Follow CNN Go to Site Follow TBS Go to Site Follow Food Network . And after just 5 weeks, an astounding 35 million people have watched episode 1. Discovery in April last year. Yes, that's one important ingredient. They are also looking for actors between 16 and 18 to portray both Gellert Grindelwald and Albus Dumbledore as teenagers. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. The advertising environment in the U.S. remains very . So David, as you said, '22 was a year of really heavy lifting and you had challenges really in every division, whether it was film, advertising, CNN, et cetera -- I mean, macro, et cetera, D2C. And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. Action & adventure 2008 2 hr 32 min English audio (and 13 more) PG-13 CC Buy or rent Christian Bale and director Christopher Nolan reunite following their blockbuster success with Batman. Participants must have the right to work in the United States or Canada. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. An open casting call has gone out for three actors between the ages of 13 and 16 to play young versions of Newt, Leta, and another character called Sebastian. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. And then if you loved it, you can come up and you could then pay for on ad-lite or in subscription. Naturally, our domestic relaunch of the combined product offering in the spring will result in a sequential step-up in P&L investments in Q2 behind a requisite increase in marketing spend support and premier content launches. Is this happening to you frequently? 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. Clearly, as we have pointed out as a key risk since the summer, underlying advertising trends, particularly in the U.S., have continued to soften through the fourth quarter, and that was further exacerbated by general entertainment audience declines. We reduced EBITDA losses by $500 million year-over-year to $200 million in Q4, supported by 1.1 million net sub adds in the quarter. Yes. Table of Contents But we -- I believe that we have an overwhelming advantage in the marketplace with the IP that we own, but to take -- to get that advantage, we have to create great content with that IP. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. And so we are a storytelling company. Warner Bros. But in order to do that, we took less volume than we could have. CAB Castings, LLC. 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. The search for Nick took Warner Bros. much longer than expected, though, and eventually Golding was ready to sign on. 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.. We have Channing and her team right now with the #1 or #2 show on almost every platform in America where we're selling to all of our -- to our peers in the business. We also made a decision in the upfront to drive price rather than extra volume. August 4, 2022 04:30 PM ET. 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. Though we are assuming that things will get better in the second half. Warner Bros Casting Calls are the most useful tools for those who are feeling capable that they can make an immediate impact on their acting careers, but aren't well-enough known to get invited to usual castings. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. 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. Today, with direct-to-consumer, more and more people are joining the party. NOW CASTING PAID EXTRAS, AGES 18+ to portray WHITE HOUSE STAFF for new NETFLIX & Tyler Perry Studios movie SIX TRIPLE EIGHT (6888). 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 now you see a very soft scatter market. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Young Sheldon, network TV's #1 comedy. 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. More details on the decision to have Wonder Woman 1984 debut in theaters and on HBO Max at the same time have been revealed, and it turns out there's a good reason for handling the sequel this way. And we are still in the early stages of bringing this comprehensive portfolio together and harnessing all that it can deliver. The industry was in a quantity of content over quality, we believe, in a quality over quantity and therefore, spend-wise, spend needs to get rationalized. China said on Monday (local time) it sought dialogue and peace for Ukraine despite US warnings that Beijing might be considering weapons supplies for its ally Russia's bogged-down invasion. MACON RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA By Kevin P. King - April 7, 2022 487 0 Advertisements On Location Casting *RUSH CALL* - TODAY! The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . 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