Discovery ended 2021 with 22 million global Direct-to-Consumer (DTC) subscribers, or 2 million more than three months earlier.
According to the company in its latest results, it also generated $450 million of next generation revenues in Q4 and roughly $1.6 billion in 2021 as a whole, or 80% more than the previous year. Discovery also notes it successfully transitioned its entire discovery+ subscriber base across Europe to the same platform as the US. This will deliver a more personalised content and viewing experience, and it expects will drive better consumer engagement and lower churn, as well as enabling an ad-lite advertising offering in key markets, beginning in March in the UK.
Discovery also says that broadcasting the Olympic Winter Games from Beijing produced strong results across its European television network and streaming products. discovery+ drove an increased number of new paid streaming subscribers, the total of which exceeded PyeongChang 2018 by almost 50%.
Discovery had total revenues of $12,191 million in 2021, or 14% more than a year earlier. Total adjusted OIBDA was $3,817 million (-9%) and net income $1,006 million (-17%).
