Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. Warner Bros Television Show, Key West Locals Key West locals, aged 18-70, are wanted to portray tourists, bicycle riders, and more in background roles for a Warner Bros. television project.. Warner Bros. The advertising environment in the U.S. remains very . filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID Cast: Dwayne Johnson, Keanu Reeves, Joh Krasinski, Kate McKinnon, Natasha Lyonne, Kevin Hart, Diego Luna, Jameela Jamil, Vanessa Bayer, Marc Maron About: Krypto the Super-Dog (Johnson) and Superman (Krasinski) are inseparable best friends, sharing the same superpowers and fighting crime in Metropolis side by side. The casting of their teenage incarnations as well as those of Newt and Leta will be sure to intrigue Harry Potter fans, and drive further speculation about the next films story. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. I want to follow up on the streaming discussion. And so I think of the investments that you make in live sports content on Turner, live content on CNN, are those types of things definitely are or they structurally not able to be put on the service? However, we remain very enthused about the trend line here, and I have greater and greater confidence in our ability to achieve our long-term segment targets of breakeven in the U.S. in 2024 and $1 billion of profitability in 2025 globally. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. 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. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Reportedly Cancels 'Wonder Woman 3' Warner Bros. 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 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. And most importantly, we saw improvement across key KPIs. 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. Is that something you're able to comment on now? They have great plans to revitalize the nets and have also begun to use our exceptional library of film and television content in a way that will benefit our linear and cable networks. But I always would err toward price, because I think that's where you really build asset value. We have a lot of motion picture content that we're reworking and making a lot of progress with. And the response from consumers has been overwhelmingly positive. And I'm very, very glad that we put out some targets in the summer of last year, and we were able to hit those targets. 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. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. Gunnar? We have an unusual situation. Yes. But curation, creating content at a time when people can watch it, creating a community conversation. Is there -- what are you considering? Delivering the latest news and official products from the Wizarding World and our partners. Today, I'm thrilled to announce that Mike and Pam signed a deal to make multiple Lord of the Rings movies. I'll just take a swing at it, Gunnar, you can follow. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. 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? As always, we are not managing this company for short-term financial performance, but rather with the next 100 years of this vibrant creative organization in mind. On the news side, we are fighting hard and making real progress. Games & Home entertainment faced difficult year-over-year comps as well due to last year's COVID-induced tailwind for library content. View this post on Instagram Action & adventure 2008 2 hr 32 min English audio (and 13 more) PG-13 CC Buy or rent Christian Bale and director Christopher Nolan reunite following their blockbuster success with Batman. And as we think about where we put content, as Casey looked at HBO, we were able to see which content are people spending time watching, what content is really powerful to us in terms of reducing churn. And for us, DC alone will be -- could and should be a game changer. Warner Bros. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . If you look at D.C., Harry Potter and Lord of the Rings, and then you take a look at Warner as a company without those three, okay? And so we are a storytelling company. It's about the sustainability and the longevity the free cash flow being delivered by that segment. And why should we need to monetize that in order to drive shareholder value. Discovery CEO David Zaslav attends NRDC's "Night Of Comedy" Honoring Anna Scott Carter at Casa Cipriani on September 20, 2022 in New York City. And then for Gunnar or JB, can you maybe just expand upon your fast strategy and why you chose to do the deal with Roku and Tubi and maybe how that might impact the launch or timing of your own fast service? And curating content so that people can watch it and have a shared experience is a very big piece of the Warner Bros. The product will offer compelling content for every member of the household. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. And so you put the Discovery+ and HBO Max proposition together at a great value, and we think we deliver something that ultimately has something for everybody in the household, which will help us on scale and help us on churn, which are the two major ingredients we're focused on as well as obviously engagement. And so -- which -- where we pivoted and said we were going pushing to move all of our films back out with real windows in order to optimize those products. Is that -- it sounds like you guys have, on the one hand, a lot of new programs, a lot of new movies and a lot of new initiatives; but at the same time, pulling some content on the floor. It's not about getting it out quick. You're going to see us fighting at Warner Bros. on the Motion Picture side, in order to really -- I think there's a huge opportunity on the Warner Bros. Motion Picture side for investment in quality content and storytelling. So we do see subscriber scale as one part of the revenue growth story. With that, I'll turn it over to Gunnar, and he'll walk you through the financials for the quarter. We continue to be the place creators are choosing to bring their visions to life. We've been hard at work since our last call and look forward to updating you on our progress. We have the largest maker and seller of content in the world, and while we've got lots more to do, we are increasingly seeing positive traction and strong proof points. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. 3 min read. Warner Bros. How to Get Cast On How to Get Cast in a DC Comics Movie or TV Show This guide will answer your most pressing questions. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. 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. A replay of the call will be available approximately two hours after the completion of the call until August 11, 2022. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. We're assuming that. I think it could and should be huge because it wasn't being pushed on. We have a lot of points to be very excited about. It's working. ET Follow HBO Max Go to Site Follow HBO Go to Site Follow Warner Bros. Go to Site Follow HGTV Go to Site Follow Discovery Go to Site Follow discovery+ Go to Site Follow CNN Go to Site Follow TBS Go to Site Follow Food Network And to that point, I have no doubt that we have years and years of that coming our way. Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . Accordingly, we expect free cash flow in the first quarter to be negative. We've effectively done that now, but we had to take two different sales teams and pull them together. Sir, you may now begin. We have command and control of each of the businesses. And we are excited for Mike and Pam to lead the studio into its next chapter, which in 2023, will see output more than double. The game was 1 of the most highly anticipated of 2023. Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. 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. Despite the full integration of Warner Bros. And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . The poor actors and directors of the . I'll talk more about that in a minute. And we hit this year with a full leadership team in place. This company is found in the years 1923. No, I was just going to say that as David has said before, I think the industry obviously was at a scale at any cost. 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. China calls for Russia-Ukraine cease-fire, . And so we're feeling more and more confident about that. The television studio is the latest arm of Warner Bros Discovery forced to make cuts in order to save at least $3 billion after the merger overseen by David Zaslav. And where does the WBD fit in that? Maybe help us think about the levers you have and your expectations around top line over the next few years? Nov 3, 2022 2:02pm PT Warner Bros. You probably know that, because we've kept the lights on at TBS for the last five years.". Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . 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. I think you used it during your script. But just as you think about the impact of DC sort of fully realizing the opportunity over the next 5-plus years, what could that mean to Warner Bros. Our next question comes from Brett Feldman with Goldman Sachs. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. One of them is off to a very good start. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. So that storytelling IP. I'm especially happy about the development in our D2C segment, where we delivered a marked improvement across a number of key operational KPIs leading to a healthy sequential improvement to financial performance. It comes after HBO and HBO. We have a great hand and we're doing a lot right. Operator. Discovery, Inc. (NASDAQ:WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET, Andrew Slabin - Executive Vice President, Global Investor Strategy, David Zaslav - President and Chief Executive Officer, Gunnar Wiedenfels - Chief Financial Officer, Jean-Briac Perrette - Chief Executive Officer and President, Global Streaming and Interactive. Open casting calls are something of a tradition in the Wizarding World. TM & WBEI. Warner Bros. And so we'll keep in mind this balance of volume versus price. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. The only other thing I'd add, Ben, is for us, it's not just a question of subscriber scaling. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Taking a step back here, though, I mean, the reason why -- one of the reasons why we carved out the linear business, the network business is, one, separate segment is to be completely transparent about where those trends are moving. It's 1 of the biggest value creation opportunities for us. CAB Castings, LLC. For us, 2023 is a year of building. Good afternoon, and welcome to Warner Bros. Sep 2, 2021 Seeking young performers for Nickelodeon's nationwide (US and Canada) Performers with Disabilities Open Call! And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. Clearly, you still have some macro challenges, but what could go right? The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. With respect to the cadence of free cash flow, as is historically the case for both legacy Discovery and WarnerMedia, Q1 free cash flow will represent the low point for the year given the timing of sports rights payments, timing of content outlays and cash interest payments on a large portion of the acquisition debt. But -- and I know it's a tough question to put numbers around. Warner Bros. W arner Bros. Pictures and the filmmakers behind the Fantastic Beasts sequel are holding open calls for five young actors to join the cast of the film. . In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. The best way to drive interest and engagement is not by dropping the entire season on a platform all at once, but by allowing the buzz and anticipation to build over time. Our final question comes from John Hodulik with UBS. And then we ourselves will run our own fast service. And on the 2023. You've been ahead of the curve here, but it seems like everyone these days is reshaping their streaming strategy in pretty profound ways, whether it's their org structure, their content spend, types of content investments, philosophy around content exclusivity and licensing, international, pricing and just so much more. 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. So there was 60% that was hardly being viewed. That is exactly what we see happening at HBO. 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. The dreaded post-merger Warner Bros Discovery layoffs have reached the programming operation overseen by HBO and HBO Max Chief Content Officer Casey Bloys. This information is only for educational purposes use. And getting ready for our new launch. And the good news is we've had a real chance to look at content on each of the platforms over the last two years. We also made a decision in the upfront to drive price rather than extra volume. Her Barbie looks like a version of Robbie's Sharon Tate, or. But it's -- we're not going to tell any story before it's done. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. And in fact, we're -- we use news and sports quite effectively in Europe, and we've learned a lot about when it does work and when it doesn't. Discovery, we believe we have the strongest hand in the industry, with the most complete portfolio of assets and globally renowned franchises, personalities and storytelling IP, across sports, news, nonfiction and entertainment, in virtually every region of the globe and in every language. WIZARDING WORLD Publishing and Theatrical Stage Rights J.K. Rowling. Distribution revenues on the whole were impacted primarily by subscriber declines in the U.S. and lower affiliate rates in certain European countries, while larger contractual rate increases in the U.S. and premium sports packages in Latin America helped to offset part of this impact. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. And once we establish this funnel, then we can take things like the first season of succession or the second season. And then if you loved it, you can come up and you could then pay for on ad-lite or in subscription. And now we're -- this year, you're going to see us fighting on DC. For those that are happy paying $5 or $7 and having home, food, Discovery and own type content. Having said that, as we face this next upfront, which is coming up in two months, I think the breadth of our content together with where we go in on price, positions us very well. 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? That HBO Max, whatever we call it on the launch, is a product that we take around the world and that has a real impact on how people consume content. Discovery in which we took some pivotal initial steps. BURBANK, Calif. Due to the unprecedented global pandemic caused by the novel Coronavirus, Warner Bros. Television's Casting department launched a unique virtual "Actors in Training" initiative this summer designed to connect the Studio with emerging actors who may have had their final year of dramatic training curtailed or negatively impacted Or is that something that might fuel that service? We haven't done a Superman movie in 10 years. is looking for PAID EXTRAS for a new series on THE CW based on DC Comics series "NAOMI" that will be filming here in Atlanta, GA. 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. 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. Yes. Let me start with the second question. In terms of the market itself, it's -- as I've said before, it's not a good environment. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. Content alone is really only half of the equation. That's the power of streaming. There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. Entertainment Industry professional, constantly in awe of Movie Magic, even after 5+ years of managing the Burbank Warner Bros. Appreciate all the information you just shared. Starting with the Studio segment. 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. It's not about getting it out for a certain date. Casey and the team continue to fuel critical and audience acclaimed with globally resident content, driving improvements in engagement and churn, which is setting up a nice tailwind into the relaunch. Warner Bros. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. But in order to do that, we took less volume than we could have. We haven't done new Harry Potter content in over a decade. And so we were able, in many ways, to Monday morning quarterback. August 4, 2022 04:30 PM ET. On the one hand, we have tremendous breadth with live news, live sports, entertainment, nonfiction, a tremendous share and reach. It reminds me of my time at NBC when Thursday Night was must-see TV. Alone is really only half of the revenue growth story but curation, creating a conversation. Tour guides are on hand in this self-guided experience and will gladly fill you in year COVID-induced! 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