Given we're still in the first year following the closing of our acquisition, I will discuss the P&L impact on a pro forma ex-FX basis. 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. 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. That's what led us to the conclusion that direct to streaming movies were providing really no value to us. In recent weeks, we signed new deals with a number of the most prolific and celebrated creatives in the industry, including Greg Berlanti, Baz Luhrmann, M. Night Shyamalan, Akiva Goldsman and Zach Cregger with more to come. Required fields are marked *, Warner Bros.-Seven Arts, Inc.(19671970), Toby Emmerich(Chairman, Warner Bros. Pictures Group), Walter Hamada(President, DC-based Film Production), studiofacilities.warnerbros.com/studio-operations-inquiry-form/. The layoffs represent 14% of Chief Content Officer Casey Bloys' staff, and the eliminated positions are primarily focused on reality content, though other departments including casting and acquisition will also be impacted. And where does the WBD fit in that? We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. We got some of the best creatives in the industry right now focused on those swings. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. 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. Gunnar? This phenomenon can go for eight, 10-plus weeks for each series. And regarding the linear affiliate renewals, as we've said a couple of times that we're very happy with how those discussions went, is a clear testament to the importance and the value that our network portfolio is delivering to our affiliates. And we were able in the upfront to drive price significantly more than all of our peers. Clearly, you still have some macro challenges, but what could go right? Let me start with the second question. Warner Bros. 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. Her Barbie looks like a version of Robbie's Sharon Tate, or. 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. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. Discovery, Inc. ( NASDAQ: WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET Company Participants Andrew Slabin - Executive Vice President, Global Investor. Warner Bros. With the successful launch of Hogwarts Legacy 2 weeks ago, we reimagined 1 of the biggest global franchises in the world. 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. 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. The industry was in a quantity of content over quality, we believe, in a quality over quantity and therefore, spend-wise, spend needs to get rationalized. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. If you look at The Last Of Us, it was growing every week, Euphoria, to be able to deliver 20 million, 30 million, 35 million people in America watching and to have it be a conversation. An important reference point for the value of our combined portfolio of networks to our distribution partners. We repaid $1 billion of debt during Q4, bringing the total debt repaid since the closing of the transaction to $7 billion, and we ended the quarter with $49.5 billion gross debt and nearly $4 billion of cash on hand, implying net leverage just below 5x. And why should we need to monetize that in order to drive shareholder value. 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. Some are advertiser-driven. Delivering the latest news and official products from the Wizarding World and our partners. On the one hand, we have tremendous breadth with live news, live sports, entertainment, nonfiction, a tremendous share and reach. The gaming business is all consumer product driven. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. 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. 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 We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. 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? Discovery. #inclusion #performerswithdisabilities #Disabilityawareness Participants must be fully vaccinated for COVID-19 and show proof of vaccination. Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. We have command and control of each of the businesses. And on the 2023 outlook, look, it's early in the year. I think the focus for many of us is usually each company's top profitability, but maybe there's not enough attention to the fact that each of these moves could have pretty dramatic impacts to the industry and competitive landscape. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. And we're seeing some real opportunity here. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. That's the power of curation. Discovery Second Quarter 2022 Earnings Call. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. October 27, 2022 THE LATEST Casting Lady Gaga Joins. So I was hoping you could just give us your most updated thoughts, so we kind of have that framework for assessing the new product when you rolled out on April 12. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. While every applicant will be considered, only those passing the initial consideration round will be contacted. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. And I'm not taking anything off the table here, but I just want to be realistic as well about what we're seeing today. 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. We expect 2023 pro forma adjusted EBITDA to be in the low to mid $11 billion range, representing growth of low to mid-20%, against pro forma adjusted EBITDA of $9.2 billion in 2022. Batman Day - September 17, 2022. Warner Bros. TV Group chairman Channing Dungey, in a memo to employees, explains cuts that will lead to the loss of 125 positions (including 43 vacant slots) - 26% of the division's total workforce. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. A number of your competitors have cut back on the total amount that they're spending on cash content in '23 versus '22. Interestingly, the actor cast as the titular character, Austin Butler, isn't the most well known, and audiences will probably know him best as the Manson family member Tex Watson in Once Upon A Time In Hollywood . 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. Obviously, successful films will help your Studio segment earnings. We're also thrilled by what we're seeing coming out of our games business, which represents a core part of our overall strategy. Thank you for attending today's presentation. Note that merger and integration-related cash costs totaled nearly $150 million in Q4 and nearly $800 million for the year, in addition to a nearly $350 million headwind from securitization and factoring since the closing of the deal in early April. And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. I want to follow up on the streaming discussion. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. And I think that diversity is strength. Webcast. Warner Bros. Our next question comes from Ben Swinburne with Morgan Stanley. The market is -- the macro environment is very challenging. 4 talking about this. And for us, DC alone will be -- could and should be a game changer. Please disable your ad-blocker and refresh. Warner Bros. Our next question comes from Kutgun Maral with RBC Capital Markets. Discovery. 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. We've been hard at work since our last call and look forward to updating you on our progress. 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. And we continue to track above our internal plans. media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . International, some areas actually trending up now, others still difficult. So those candidates who are interested must have checked the companys full details. This information is only for educational purposes use. It's working. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. That's what we're looking to primarily deliver. I can't wait for The Flash to hit the theaters in June. 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. Maybe help us think about the levers you have and your expectations around top line over the next few years? On FAST, look, the strategy is, I think, back to some of the questions earlier, at the end of the day, one of the advantages we feel like we have is the question keeps coming up about windowing. We see churn as a third important variable that historically has been relatively higher on the HBO Max product that with the two products coming together, that ultimately coming down is important. What's in there for upside, which is something that you didn't really talk about that much, but it's new? Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. I mean, pot levels in the industry, I think, were down 14% in the quarter. And then if you loved it, you can come up and you could then pay for on ad-lite or in subscription. You do not need to submit this form if you've already submitted to any casting. I think you used it during your script. View this post on Instagram Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. August 15, 2022 10:20am. It's 1 of the biggest value creation opportunities for us. Number two, partnering with our business leaders to embrace a more rigorous analytical framework through which capital allocation decisions will be viewed, particularly as we refine how our content is monetized and windowed. And having all those distribution outlets gives us the optionality to look at what the data shows us and see where we need to lean in further or not. But as David said, we've got sports and news that today are really untapped in the streaming world, and those are optionality for what we might be willing to do in the future, and we'll share more of that on the 12th with you with more detail. 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. In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. We are committed to continue executing our strategic initiatives to drive top line performance and with much repositioning behind us, we are beginning to fully lean into the opportunities ahead of us. Our strategy is no sub left behind. And together, we are focused on making our businesses better and stronger. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. It's just too early to really call a trend change here. In addition to all of our entertainment and nonfiction, we do have all of our news and sports. So there was 60% that was hardly being viewed. The Hogwarts game, we took several additional months to rework it, to get it right. Sure. These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. Yes. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. So I think that's something that's really resonating with the creative community that their content is seen, it's curated and it's elevated and that's part of the cultural conversation, both in the theater and on the platform. But in order to do that, we took less volume than we could have. We have a lot of motion picture content that we're reworking and making a lot of progress with. 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. I'm confident that we will get there, particularly with some of the operational and content-driven initiatives implemented by Kathleen Finch and her team. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. We definitely are planning for an inflection on the revenue side. On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - March 10, 2022 684 0 Advertisements On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice Advertisements Social media explodes and people are calling their family and friends to talk about what they saw. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. 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. WBD 15.42 +0.67 Warner Bros. Marvel's Guardians will star alongside Chris Hemsworth (Thor), Natalie Portman (Jane Foster/Mighty Thor), Tessa Thompson (Valkyrie), and Christian Bale (Gorr the God Butcher), among other new and. Content alone is really only half of the equation. And we take advantage of all the content that we have. In an increasingly challenging environment, we were able to deliver over $3.3 billion of reported free cash flow in 2022, a healthy conversion, notwithstanding significant merger and integration-related expenses. Overall, 14% of . 2023 will be a year of building and off we go. We've rightsized the content investments. Elvis is a 2022 biographical drama film directed by Baz Luhrmann and written by Luhrmann, Sam Bromell, Craig Pearce, and Jeremy Doner.It follows the life of the American rock and roll singer and actor Elvis Presley, told from the perspective of his manager, Colonel Tom Parker.It stars Austin Butler as Presley with Tom Hanks as Parker, while Olivia DeJonge, Helen Thomson, Richard Roxburgh . Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. Hello, everyone, and thank you for joining us. Discovery's Q4 Earnings Call. Casting call: Warner Brothers feature film "The Curious Incident of the Dog in the Night-Time" by admin Seeking a neurodivergent actor to play lead role The Curious Incident of the Dog in the Night-Time is a Warner Bros. feature film expected There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. And so I think that is key to us in terms of building the long-term strength. Table of Contents Warner Bros. . And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. Warner Bros. 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. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. But it's -- we're not going to tell any story before it's done. Warner Bros. Faith Wood-Blagrove beat thousands of other young actresses to the role of Modesty in Fantastic Beasts, and Evanna Lynch was chosen for the part of Luna Lovegood out of 15,000 other young women following open casting in 2006. And we've lapped that now, and we're seeing some growth now. We believe strongly in the importance of the motion picture window and having that shared experience with other people. So we have a best -- we have all this work that we've done to build this platform will be taken, so that to the benefit of all of our subscribers on all of our different products. Photo: Kevin Dietsch/Getty Images. More details on the decision to have Wonder Woman 1984 debut in theaters and on HBO Max at the same time have been revealed, and it turns out there's a good reason for handling the sequel this way. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. We've effectively done that now, but we had to take two different sales teams and pull them together. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. These shows have averaged as many as 20 million viewers in episode with strong week-over-week growth. An unrepentant Zaslav turned up on Thursday to bask in the afterglow of positive quarterly financials: $6 billion in debt repaid since the merger, a combined 1.7 million new subscribers to HBO Max . 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. Yes. 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. Turning to the total company EBITDA outlook. Sir, you may now begin. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. So we do see subscriber scale as one part of the revenue growth story. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. We also made a decision in the upfront to drive price rather than extra volume. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. Channing is the best example of that. 3 min read. 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. The quarter took several additional months to rework it, to get it right, Brett, is that 're! To Mr. Andrew Slabin, Executive Vice President of global Investor Strategy strong week-over-week growth in. Very encouraging are helping to turn the flywheel and grow and improve our businesses better stronger... 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