Warner Bros. Discovery reported first-quarter revenues of $3.16 billion, a 13 % achieve, delivering a internet earnings of $456 million.
The financials cowl the interval from January 1, 2022, via March 31, 2022, for Discovery, Inc. The primary-quarter efficiency for the WarnerMedia enterprise will not be included, as that transaction closed April 8, 2022.
“With Warner Bros. Discovery, we’re making a pure-play media firm with diversified revenues and essentially the most compelling IP possession, franchises and model portfolio in our trade,” mentioned David Zaslav, president and CEO of Warner Bros. Discovery. “Importantly, we even have an unequalled world footprint of touchpoints to get our content material into the arms of shoppers on each display. We’re placing collectively the strategic framework and group to drive our balanced strategy to rising our companies and maximizing the worth of our storytelling, information and sports activities. To do that, now we have introduced collectively a powerful management workforce in a streamlined construction to foster higher command and management and strategic readability throughout your complete firm. I couldn’t be extra excited concerning the huge alternative forward.”
The corporate ended Q1 with 24 million direct-to-consumer subscribers, a rise of two million subscribers because the finish of This autumn.
U.S. revenues rose 7 % to $1.9 billion, with advert revenues up 5 % to $1 billion and distribution up 11 % to $886 million. Linear subscribers had been down 4 % on the prior 12 months.
Worldwide revenues rose 25 % to $1.2 billion, with advert revenues up 5 % to $457 million, pushed by Winter Olympics protection in Europe, and distribution revenues up 4 % to $536 million.