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 So that storytelling IP. Social media explodes and people are calling their family and friends to talk about what they saw. And we take advantage of all the content that we have. And then obviously, with the new product, we just look at some of the features that we're going to be rolling out and some of the improved and enhancements from a performance standpoint in the product at a much higher engagement, which will help both our ad-lite monetization, including, as David mentioned earlier, the fact that we're now putting ads and all the content on HBO Max as opposed to just some of the content on HBO Max, all those will be part of the revenue drivers in addition to obviously having the rights like we talked about before, for all of our sports in the U.S. and news content eventually that could also help us drive further scale and pricing in the years ahead. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . We were able to put that to work behind some of cases launches, behind some of our film launches. Number four, driving overall efficiency and free cash flow conversion towards our near-term goal of 1/3 to 1/2 conversion of adjusted EBITDA with longer-term upside towards our 60% goal. And we have high hopes for all of these metrics after the combined product launches to further improve. Adjusted EBITDA decreased 7% as revenue declines were partially offset by lower content expenses as well as lower personnel and marketing costs, in part reflecting our cost synergy efforts. Last year was a year of restructuring. Of course, the other stipulations include being "willing and available" to film for the duration of the series which could be as long as 12 weeks and will commence around mid-June to mid-August of 2021. And as we look to 2023, my near-term key financial priorities remain: number one, delivering against our synergy and transformation targets where we are managing towards an incremental $2 billion of cost capture in 2023 and the larger opportunity I mentioned previously. You may now disconnect. 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. Delivering the latest news and official products from the Wizarding World and our partners. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. And with the breadth and depth of content that we have across the company, we think we're very uniquely able to do that without jeopardizing or risking the subscription business, the theatrical business or some of our upstream windows, which we'll obviously continue to focus on. And we were able in the upfront to drive price significantly more than all of our peers. CNN stands as a premier global news organization, and we wanted to be the place for fact-based reporting and thoughtful discourse that is broader than politics and sport. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. The reality is the market is evolving so dynamically that what we are doing is as 1 team, looking at all the different windows and what our real asset is having actual distribution assets in almost every form of media, whether it be linear television, on-demand television through streaming, games, theatrical distribution, free-to-air, pay TV. So that is having some impact on us versus others that were -- that took a much bigger position in the upfront. 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. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. All U.S. extremist mass killings in 2022 linked to far right, . Does that include any potential asset sales like nonstrategic asset sales? The closing date for applications is Tuesday, 20 June 2017 at midnight GMT. No. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. I think it could and should be huge because it wasn't being pushed on. So I know it's a pretty open-ended question, but can you talk about how you see the streaming industry evolving overall with these changes? So a lot to be looking forward to. Warner Bros. Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. No previous acting experience is necessary, but applicants need to be eligible to work in the UK (meaning they must be a UK, Irish or EU passport holder), and be available for filming between August and November 2017. Naturally, we are laser-focused on delevering the balance sheet, where I see net leverage very comfortably inside of 4x by the end of 2023 and reiterate our prior guidance to be within the investment grade range by mid-2024 and within our gross leverage target of 2.5x to 3x by the end of 2024. Passionate about supporting Creatives to develop, produce . NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. The casting of a young Leta would suggest that her character might have a bigger role in the sequel. An important reference point for the value of our combined portfolio of networks to our distribution partners. It comes after HBO and HBO. 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. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. Look, the symmetry of the Discovery+ content, which is heavily viewed for hours a day, mostly during the day and infringe against the HBO content, which is watched more, Discovery+ maybe more passively, HBO, more with family, that the more research we do, the more we look at it, the more we think these fit together very well with appealing content to everybody in the family. The sequel to Fantastic Beasts and Where to Find Them is slated for release 16 November 2018, and filming begins this summer. The market is -- the macro environment is very challenging. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. 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. It's about telling the best story. Moreover, we're analyzing our pricing strategy in a number of key international markets, particularly in LatAm, where we believe our service has significant pricing upside. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. And there are times when our share is significantly higher with marquee events, such as March Madness and the MLB and NBA playoffs. Arguably, we've done a little worse than that, partly driven by the scheduling or the sports schedules that David mentioned a couple of minutes ago. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. The guidance does not include any asset sales. 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. Discovery's Q4 Earnings Call. Warner Bros Casting Calls are the most useful tools for those who are feeling capable that they can make an immediate impact on their acting careers, but aren't well-enough known to get invited to usual castings. I can't wait for The Flash to hit the theaters in June. Do your homework, find out if the casting call is legit, find out who the casting director is for the show or movie and make sure everything matches up. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . These outcomes will reflect an incremental $2 billion of synergy and transformation efficiency capture, while additional puts and takes to consider include positive revenue inflection in D2C, the broader release slate at Warner Bros. Pictures and Games, balanced by cyclical advertising headwinds. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. Some are advertiser-driven. We believe that when you have content that is so good that it hits the gist. For us, 2023 is a year of building. 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. We have command and control of each of the businesses. The 50 Best Movies of 2022, According to 165 Critics from . 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. Channing is the best example of that. Yes. And at the end of the day, the consumer is at a point in time where they want more choice and better breadth of choice from fewer services, because they just don't have either share of wallet to be able to spending on five, six, seven services anymore. Sir, you may now begin. What's in there for upside, which is something that you didn't really talk about that much, but it's new? So there was 60% that was hardly being viewed. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. Open casting calls are something of a tradition in the Wizarding World. Really trying to understand how much of the ad impact that you're seeing is kind of coming from the macro environment? Every week, a new episode comes out and by the time the next one airs a week later, tens of millions of people have watched the last episode. 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 Warner Bros. It's 1 of the biggest value creation opportunities for us. On direct-to-consumer, we are making meaningful progress on our goal to achieve real profitability in streaming, a key and powerful segment of our company. 3 min read. And I think there was a lot left on the table. December 13, 2021. The sequential improvement in Q4 free cash flow versus Q3 was the result of greater EBITDA, the timing of interest payments on acquisition debt and some first improvements from working capital initiatives. It's working. It's just too early to really call a trend change here. David, maybe just to sort of wrap up that on the content side. Though we are assuming that things will get better in the second half. There's been an increasing discussion recently about what the right general entertainment content strategy supposed to be for media companies as your models continue to pivot and become more streaming-centric. 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. That's the power of curation. During the WBD quarterly earnings call, Zaslav . We also signed fast content deals with Roku and Tubi, adding to these popular platforms, hundreds of our TV shows and movies, while maximizing the reach and overall value of our content. And I have no doubt that when the market turns, we're going to be in a very, very good position to capture that upswing as well, especially, as David mentioned, with more inventory on the digital side becoming available here, which last year was sort of a limiting factor for us. This company every year give up the chance for new talents. I am proud of what we achieved in 2022 against the targets we set out in the summer and against an increasingly challenging environment in the second half of the year, and I'm proud of the momentum we have built exiting the year. And the response from consumers has been overwhelmingly positive. And curating content so that people can watch it and have a shared experience is a very big piece of the Warner Bros. But we -- I believe that we have an overwhelming advantage in the marketplace with the IP that we own, but to take -- to get that advantage, we have to create great content with that IP. We've contended with recent share shifts away from our portfolio during the NFL and College Football season and the World Cup. One of them is off to a very good start. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. I saw it and loved it. Your email address will not be published. He presented that to you and the press about a month ago. Naturally, and as I have said before, not all of these initiatives will come to fruition or get realized to the full extent, but this represents a significant pipeline for us as components of both near-term cost out and longer-term continuous improvement. We haven't done new Harry Potter content in over a decade. We have profitable subscribers that are very happy with the product offering of Discovery+, why would we shut that off. Interested in future casting calls or joining our casting division? And so I think that is key to us in terms of building the long-term strength. Turning to the total company EBITDA outlook. Batman Day - September 17, 2022. I remain very optimistic about the range of potential outcomes in 2023 and beyond. And Ben, on the D2C question, let me start with the revenue side of it. It's working. And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. A few weeks ago, James and Peter rolled out Phase I of their highly anticipated multiyear plan for DC Studios across film, television and animation with 5 films and 5 television series already in the works, the new era for DC under a single creative vision is in full swing, and we are especially eager to thrill fans with new Superman and Batman movies in 2025. And to that end, we are now confident in a path to at least $4 billion of savings largely addressable through 2024, representing an increase of $500 million over our prior estimate. People want to be part of something. And later down the road, we're also obviously going to start looking at new market launches, again. The dreaded post-merger Warner Bros Discovery layoffs have reached the programming operation overseen by HBO and HBO Max Chief Content Officer Casey Bloys. Is that something you're able to comment on now? 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