However, CEO Zaslav said the churn on HBO Max was unacceptably high.
, seeking to balance the growth of the nascent service with continued investment in Warner Bros Discovery’s traditional film and television business.
Warner Bros. Discovery, forged by the union of WarnerMedia and Discovery, recorded a $1.81 billion charge in the first quarter due to the merger, while also booking $95 million in restructuring expenses.. It will seek to expand its reach beyond fans of HBO’s acclaimed and edgy shows by incorporating unscripted fare and children’s programming.
Warner Bros Discovery is also banking on the slate of movies releasing over the summer including “Dune 2” and “The Flash” and is confident of generating $1 billion or more of profitability in 2025 globally. Zaslav also said the company was looking to boost cash flow by licensing content in India, where it struck a deal with India’s Reliance Viacom18 in April.
Revenue was $10.70 billion in the quarter, compared with estimates of $10.78 billion, according to Refinitiv data.March release “Shazam! Fury of the Gods,”For the networks segment, on a pro-forma basis, advertising revenue fell 14% because of the softening ad market and smaller TV audiences.
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