Discovery completed its last full quarter before its merger into Warner Bros. Discovery (WBD) with 24 million DTC (direct-to-consumer) subscribers.
The numbers, which principally relate to the Discovery+ streaming service but also Eurosport, increased by 2 million on the quarter.
Subscribers in Ukraine are currently receiving Discovery+ free-of-charge.
David Zaslav, President, and Chief Executive Officer of Warner Bros. Discovery said he could not be more excited about the “massive opportunity” ahead. “With Warner Bros. Discovery, we are creating a pure-play media company with diversified revenues and the most compelling IP ownership, franchises, and brand portfolio in our industry.”
First quarter revenues increased by 13% to $3,159 million. International Networks revenues increased 25 on Q1 2021 to $1,229 million. Advertising revenue increased by 5%, while Discovery+ contributed to a 4% rise in distribution revenues, though there was a fall in affiliate rates in some European markets
US advertising revenues increased 5% and distribution revenues increased 11%, though as might be expected there was a decline in linear subscriptions of 4%, considering the sale of the Great American Country channel.