Warner Bros. Discovery has delivered a first quarter profit of $86 million for its Direct-to-Consumer (DTC) unit as subscribers to its steaming and pay-TV services topped 99.6 million.
The company has benefitted from a 2 million increase in subscribers and price increases. “We delivered meaningful growth in our streaming business with a nice acceleration in ad sales, generating nearly $90 million in positive EBITDA for the quarter,” said David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery. “We will soon be rolling out Max to 29 countries across Europe, and the content lineup for Max over the coming year is one of our strongest ever.”
However, there were declines within WBD’s studios and network businesses.
Studio revenue fell by 13% to $2.82 billion, while EBITDA dropped 70%. TV revenue also fell back as a result of the Hollywood studio strikes that led to fewer episodes being delivered in the first quarter.
However, Dune: Part Two and Godzilla x Kong: The New Empire have grossed over $1.2 billion in global box office revenies. Dune: Part Two is the highest grossing movie of 2024 to date with over $700 million in global box office.
