The number of subscribers to Warner Bros. Discovery’s direct-to-consumer business has fallen by 700,000 in the last quarter, the company has confirmed.
As of September 30, 2023 there were 95.1 million subscribers to streaming services including HBO/Max and Discovery+. However, David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery reported less subscriber erosion on the recently revamped Max following the introduction of CNN Max and the Bleacher Report sports Add-On, which he said were contributing to to increased engagement and lower churn.
“We’ve made great strides in just 19 months and are excited to continue building on this strong momentum, as we focus on driving future growth and creating long-term value for our shareholders,” he said.
Q3 total revenues were $9,979 million, an increase of 1% on Q3 2022. Q3 total Adjusted EBITDA was $2,969 million.
Other revenue increased 51% following the launch of the unconsolidated TNT Sports JV with BT, though the premium sports channel brought with it costs of its own.
Barbie was the highest grossing film in Warner Bros. history, generating nearly $1.5 billion in global box office.
