Discovery, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City.It was formed after the spin-off of WarnerMedia by AT&T, and its merger with Discovery, Inc. on April 8, 2022.. And I think our diversity, we have all these different assets that have -- that are different. That's the power of curation. We do expect the cash cost to achieve synergy and transformation efforts will be around the higher end of our $1 billion to $1.5 billion guide given the expanded synergy target, some of which possibly hitting in 2024. Q4 revenue growth of 6% against the 12% decrease in combined operating expenses led to a significantly reduced EBITDA loss of roughly $200 million, a $500-plus million improvement year-over-year, notwithstanding a largely content-driven 6% increase in cost of revenue. And so we were able, in many ways, to Monday morning quarterback. [Operator Instructions] Additionally, please be advised that today's conference call is being recorded. MACON RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA By Kevin P. King - April 7, 2022 487 0 Advertisements On Location Casting *RUSH CALL* - TODAY! We have a fantastic leadership team moving us forward, everyone rowing in the same direction. And we are still in the early stages of bringing this comprehensive portfolio together and harnessing all that it can deliver. 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. And so effectively, whether you want to look at content for free, you want to look at with edge, you want to look at you want a premium that we -- you would have all that opportunity with us, and it makes sense because we have the largest TV and motion picture library in the world. Well, look, we were laser-focused on building this DC 10-year plan. Consistent with what we told you last August, we are getting ready to launch our combined streaming service here in the U.S. in a few months with Latin America to follow later this year and markets in EMEA and APAC in '24. On the 12th, we'll lay out to you, we have a clear attack plan, where we'll drive this really across the country and into markets around the world with conviction. 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. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. 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 . We haven't done a Superman movie in 10 years. 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. Channing is the best example of that. 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. The poor actors and directors of the . Discovery in April last year. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . And the best thing that we have going for us right now is all of that hard work that we did, and it was probably two years of work that we did in 10 months, it's now almost -- it's overwhelmingly behind us. The studio is the flagship producer of live-action feature films within Warner Bros. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. We've gone through a couple of the puts and takes here. Naturally, our domestic relaunch of the combined product offering in the spring will result in a sequential step-up in P&L investments in Q2 behind a requisite increase in marketing spend support and premier content launches. We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. We can take you into the theater around the world. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. Q&A session is now closed, which concludes today's conference. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. I have one for David and then one for J.B. or Gunnar. 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. Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. Accordingly, we expect free cash flow in the first quarter to be negative. So that storytelling IP. You have so many hidden assets within the company. Warner Bros. This doesn't yet reflect the $1 price increase on the ad-free retail tier in the U.S. that was implemented in January and which has been digested quite well. [Operator Instructions] Our first question comes from Jessica Reif Ehrlich with Bank of America. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. Look, I mean on the content spend, Remember, all our strategy changes leading to the content restructuring and write-offs over the course of last year, obviously, that's going to flow through cash as well as we adjust. 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. Your email address will not be published. Presentation. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. 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. And there are times when our share is significantly higher with marquee events, such as March Madness and the MLB and NBA playoffs. Chris Licht and the team are focused on building an asset for the long term across cable and digital that is worthy of that great global brand. Let me start with the second. On the one hand, we have tremendous breadth with live news, live sports, entertainment, nonfiction, a tremendous share and reach. We continue to expect to convert 1/3 to half of EBITDA into free cash flow, as I stated earlier, with the key determinants and drivers of growth being the magnitude of EBITDA, net cash content spend, the impact of working capital initiatives, and the timing and magnitude of a trend change in the advertising market. 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. Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. Our next question SP1 Comes from Robert Fishman with SVB MoffettNathanson. And Ben, on the D2C question, let me start with the revenue side of it. A replay of the call will be available approximately two hours after the completion of the call until August 11, 2022. Turning to the total company EBITDA outlook. It's 1 of the biggest value creation opportunities for us. I think you used it during your script. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. Her Barbie looks like a version of Robbie's Sharon Tate, or. And back then, you had to watch the show on Thursday night. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. And after just 5 weeks, an astounding 35 million people have watched episode 1. I mean, pot levels in the industry, I think, were down 14% in the quarter. 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. And I think there was a lot left on the table. Nov 3, 2022 2:02pm PT Warner Bros. Here through this post, we are also providing complete necessary details about the Warner Bros Pictures Casting Directors Dates Roles. The reality is, in today's environment, I think it would be -- you wouldn't want us to say we have a static a 100% defined windowing strategy. 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. But that said, there's always going to be a place for quality content and we're open for business. We haven't done new Harry Potter content in over a decade. 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. We will always be a little lower maybe than sort of a pure-play D2C product just because of the HBO linear trends that are baked into our revenue number. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. We have profitable subscribers that are very happy with the product offering of Discovery+, why would we shut that off. At Warner Bros. It's just too early to really call a trend change here. 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. Two questions. During the fourth quarter of 2022, Warner Bros. Overall, 14% of . These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. Our strategy is no sub left behind. The fourth quarter marked the end of a first and very defining chapter for Warner Bros. 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. Warner Bros. NOW CASTING PAID EXTRAS, AGES 18+ to portray WHITE HOUSE STAFF for new NETFLIX & Tyler Perry Studios movie SIX TRIPLE EIGHT (6888). 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. 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. Our next question comes from Michael Morris with Guggenheim Partners. Discovery in which we took some pivotal initial steps. I'm just wondering if you can talk about some of these assumptions. He presented that to you and the press about a month ago. It's a wow. Oh, on FAST. We're excited about the upcoming launch of the [ENHANZE] product and look forward to sharing more details at a press event on April 12. And then on the cost side, all of the trends are pointing in the right direction. They want -- they want to have an opportunity for their content to be seen, to be talked about, and they want to feel respected. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. Christian Zilko Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. And then we have the ability to pick from all of these different baskets to build really what may be most important for us, which is a successful and profitable streaming business. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. In addition to all of our entertainment and nonfiction, we do have all of our news and sports. And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. . But it's -- we're not going to tell any story before it's done. 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. David, maybe just to sort of wrap up that on the content side. We have a lot of points to be very excited about. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. James was writing Superman. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . And so I think that is key to us in terms of building the long-term strength. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. So we do see subscriber scale as one part of the revenue growth story. We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. Looking ahead within the Studio, 2023 will be a pivotal year, particularly behind our larger and broader release slates at both Warner Bros. Pictures and DC, not to mention a wonderful start with Hogwarts Legacy on the game side. The long-term earnings and free cash flow generation potential of this company are stronger than ever, particularly after having taken some courageous and crucial first steps this past year. Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. More Earnings Resources from MarketBeat Earnings Tools: Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance The search for Nick took Warner Bros. much longer than expected, though, and eventually Golding was ready to sign on. And where does the WBD fit in that? Sir, you may now begin. It comes after HBO and HBO. Sorry, Robert. That's what we're looking to primarily deliver. 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. We are more confident than ever that we have the right strategy to be successful and ultimately achieve our goal of being the greatest media and entertainment company in the world. Yes. 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 met with 186 of the top leaders in -- for a week in early January. Newt Scamanders relationships and past remain enigmatic, so any glimpse into his formative years will be huge for the character. media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . 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. I believe Warner Bros. TV is the greatest quality maker of content in the world. It's significantly better outside the U.S. right now, which is a surprise. 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? Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. All the meetings that I've had in the last two weeks are about great content that we're producing, meeting with creatives that want to come here, how we -- what more shows are we going to be selling, what more shows are we going to be keeping on our platform? There are some opportunities that I'm looking at below deck as we say, but none of that would be baked into this leverage guidance. Table of Contents Warner Bros. didn't even have the courtesy to give the "Batgirl" cast and creative team a bat signal that their movie was being locked away in Arkham. The other point that is front or set up for us is curation. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA So a lot to be looking forward to. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Yes. Casting Calls Georgia On Location Casting ATLANTA BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - June 23, 2022 856 0 Advertisements On Location Casting ATLANTA BACKGROUND Casting Notice **LINK TO SUBMIT! 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. Discovery experienced a staggering USD 2.1 billion financial setback. 2023 will be a year of building and off we go. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. We are also advantaged by the fact that our U.S. networks average 30% of all nightly cable viewers in the key 25 to 54 demo. Reportedly Cancels 'Wonder Woman 3' Warner Bros. There hasn't been a stand-alone Superman movie in a decade. Sep 2, 2021 Seeking young performers for Nickelodeon's nationwide (US and Canada) Performers with Disabilities Open Call! DC Comics. And curating content so that people can watch it and have a shared experience is a very big piece of the Warner Bros. Content alone is really only half of the equation. But the key to this company is, as a storytelling company, we have this diversity. 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. Clearly, you still have some macro challenges, but what could go right? And so selling that to drive free cash flow and to nourish the overall segment, so that we, as a media segment, can be successful is important. Discovery Inc. is suing Paramount Global, saying its competitor aired new episodes of the popular animated comedy series "South Park" after Warner paid for exclusive rights. The biggest unknown continues to be in the ad sales environment. Please. Don't forget the 12+ hour blocks of five year old movies every weekend. And so we're going to be -- Casey is the best example of that. It's -- those three of the tentpole products that when someone's at dinner anywhere in the world, and they look at their watch at 8:00 and you mention Batman, Superman, Wonder Woman, Harry Potter, Lord of the Rings. The film is set decades before Harry Potters adventures at Hogwarts, and marks an increasingly dark time for the wizarding world. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. And we're doing it in a very tasteful way by putting it on the very front end. There's loads of content out there. Warner Bros. I'll talk more about that in a minute. We've already seen more than $850 million in retail sales, and we still have more platforms launching over the next few months. 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. 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 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. 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. Warner Bros. Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. 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/. But I also think we're very well positioned to grow from here. And getting ready for our new launch. Use the form below to submit your basics and we'll reach out to you when the next big film casts! Delivering the latest news and official products from the Wizarding World and our partners. No. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. 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. 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. Or is that something that might fuel that service? We've been hard at work since our last call and look forward to updating you on our progress. Before we start, I'd like to remind you that today's conference call will include forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. 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. The studio is the flagship producer of live-action feature films within Warner Bros. It's about telling the best story. Discovery CEO David Zaslav said the retooling of CNN 'isn't going to happen overnight.'. Sir, you may now begin. 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. That said, there's still more that we need to get right and we are hard at work. Successfully localized over 75 titles and worked with over 50 different studios since 2005:<br> Warner Bros. Montreal (April 2013 - Present): Batman: Arkham Origins, Middle-Earth: Shadow of Mordor, Batman: Arkham . 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. 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. And then we ourselves will run our own fast service. 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. The Warner Bros. Television Workshop is the premier program for new writers and. 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. 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. And we were able in the upfront to drive price significantly more than all of our peers. It's about the sustainability and the longevity the free cash flow being delivered by that segment. 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. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. 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. The Warner Bros. James was writing Superman, we are working on a total potential opportunity of $ billion... Let me start with the product offering of Discovery+, why would we shut that off time for the year... N'T done new Harry Potter content in the ad sales environment so we do have all of peers. Missing out on their final year of building and off we go, we warner bros casting calls 2022 working on total! 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