We got to take those swings. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. What's in there for upside, which is something that you didn't really talk about that much, but it's new? 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 also signed fast content deals with Roku and Tubi, adding to these popular platforms, hundreds of our TV shows and movies, while maximizing the reach and overall value of our content. 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. During the WBD quarterly earnings call, Zaslav . Keep one thing in mind, the entire last year was impacted by this headwind from coming off of Amazon. We've contended with recent share shifts away from our portfolio during the NFL and College Football season and the World Cup. Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. This doesn't yet reflect the $1 price increase on the ad-free retail tier in the U.S. that was implemented in January and which has been digested quite well. Warner Bros. 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. To participate in the Warner Bros. Participants must have the right to work in the United States or Canada. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. So those candidates who are interested must have checked the companys full details. Delivering the latest news and official products from the Wizarding World and our partners. Global core subscribers increased 1.1 million sequentially and 10 million year-on-year, while global ARPU increased as well modestly to $7.58. We got some of the best creatives in the industry right now focused on those swings. Discovery advantage. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. In Harry Potter and the Deathly Hallows, readers learned that Albus and Gellert were once friends, before becoming arch-rivals. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. And once we establish this funnel, then we can take things like the first season of succession or the second season. We believe strongly in the importance of the motion picture window and having that shared experience with other people. 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. 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 . 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. Internationally, as I've said before, we look at our pricing is significantly under where we think the market is. 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. Your email address will not be published. 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. Warner Bros. We're going to be releasing 12 films, 6 games. In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. 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. Gunnar will take you through all of the financials in our outlook, but I'm very pleased that we see our net leverage clearly below 4x by the end of this year, below 4x by the end of this year. We were able to put that to work behind some of cases launches, behind some of our film launches. Let me start with the second. China calls for Russia-Ukraine cease-fire, . So I think that's something that's really resonating with the creative community that their content is seen, it's curated and it's elevated and that's part of the cultural conversation, both in the theater and on the platform. 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. First, let me say, this promises to be a very exciting year for our company. So that storytelling IP. 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. Warner Bros. didn't even have the courtesy to give the "Batgirl" cast and creative team a bat signal that their movie was being locked away in Arkham. 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've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. Stay tuned for more to come on this front. Warner Bros. "I was in the movie 'Grown Ups'. 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. And on the 2023 outlook, look, it's early in the year. And there's a number of uncertainties as you wouldn't be surprised to hear. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. 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. Chris Licht and the team are focused on building an asset for the long term across cable and digital that is worthy of that great global brand. And we're seeing some real opportunity here. And that is the culture here at Warner Bros. It's the backbone of what we're doing, and we'll keep investing. 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. That's not the point. And we take advantage of all the content that we have. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. Echoing some of what David said, the leadership team is ever more aligned on strategic decision-making that benefits the company as a whole versus one segment or another and is incentivized as such. Thank you for attending today's presentation. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. In the end, there was public backlash over his casting, but not because of his . 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. For us, 2023 is a year of building. WIZARDING WORLD Publishing and Theatrical Stage Rights J.K. Rowling. It comes after HBO and HBO. Sorry, Robert. Yes. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. 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. Yes. The casting of a young Leta would suggest that her character might have a bigger role in the sequel. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. And we hit this year with a full leadership team in place. And we continue to track above our internal plans. 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. 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. Discovery to Report Fourth Quarter 2022 Earnings: Listen Live on February 23, 2023 at 4:30 p.m. But curation, creating content at a time when people can watch it, creating a community conversation. The biggest unknown continues to be in the ad sales environment. I think it could and should be huge because it wasn't being pushed on. We have an unusual situation. Join the Fan Club and bring your traits with you. And the newest hits, Night Court on NBC and Shrinking on Apple TV. I'll talk more about that in a minute. We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. And that isn't critical to or helpful to churn. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. But that said, there's always going to be a place for quality content and we're open for business. So that is having some impact on us versus others that were -- that took a much bigger position in the upfront. More Earnings Resources from MarketBeat Earnings Tools: Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. Well, look, we were laser-focused on building this DC 10-year plan. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. I mean just how should we think of sort of pricing and how should that translate into sort of results as we look out to '23? We've rightsized the content investments. Discovery to Merge Streaming Services James Gunn, and Peter Safran were Appointed to Be Executives of DC Studios 'Stranger Things' Caleb McLaughlin Says He Wants to Place 'Static Shock' Margot Robbie on Lady Gaga Cast to Play Harley Quinn in 'Joker 2' And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. 2023 will be a year of building and off we go. Despite the full integration of Warner Bros. During the fourth quarter of 2022, Warner Bros. There's loads of content out there. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. 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. Consistent with what we told you last August, we are getting ready to launch our combined streaming service here in the U.S. in a few months with Latin America to follow later this year and markets in EMEA and APAC in '24. Is there -- what are you considering? 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. 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. But I also think we're very well positioned to grow from here. And I believe in that, having been in this business for 30 years, I think in order to really drive asset value, you need to drive price. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. These statements are made based on management's current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from our expectations. These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. The poor actors and directors of the . I mean, pot levels in the industry, I think, were down 14% in the quarter. And then on the cost side, all of the trends are pointing in the right direction. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . 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. If you look at The Last Of Us, it was growing every week, Euphoria, to be able to deliver 20 million, 30 million, 35 million people in America watching and to have it be a conversation. Starting with the Studio segment. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. And we don't yet have, we think, a strong enough position in that market. 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. You also hear a bigger discussion around how you decide when something should be exclusive to your platforms and when maybe you should be licensing. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. We will always be a little lower maybe than sort of a pure-play D2C product just because of the HBO linear trends that are baked into our revenue number. Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. 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. The film is set decades before Harry Potters adventures at Hogwarts, and marks an increasingly dark time for the wizarding world. Netflix Reality Series Audition 2023 Casting Calls. 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. 53 min read Participants Andrew T. Slabin; EVP of Global Investor Strategy; Warner Bros. Our next question comes from Ben Swinburne with Morgan Stanley. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. 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. Sir, you may now begin. This information is only for educational purposes use. And together, we are focused on making our businesses better and stronger. It's significantly better outside the U.S. right now, which is a surprise. There hasn't been a stand-alone Superman movie in a decade. 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. 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. 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. Those shows had a supersized effect on people and culture. It's working. Through the end of 2022, we've already realized over $1 billion of synergy, inclusive of a couple of hundred million dollars of course-corrective measures that we undertook early after launching Warner Bros. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA 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. Q4 revenues decreased 9% year-over-year, while adjusted EBITDA decreased 2%, helped by a reduction in consolidated SG&A by 22%, a bit more than we guided to. So I think this is an exciting time because I think we're really -- we made some tough decisions. . We've been hard at work since our last call and look forward to updating you on our progress. Just what should we expect in terms of '23 versus '22? And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. We must get it right. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. 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