Keep one thing in mind, the entire last year was impacted by this headwind from coming off of Amazon. Discovery in April last year. You had 6% growth this quarter, a lot of that from advertising and content, but do you need revenue growth to accelerate in order to deliver that $1 billion? 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. We've heard the word curated. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. We have command and control of each of the businesses. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. Well, look, we were laser-focused on building this DC 10-year plan. And the good news is we've had a real chance to look at content on each of the platforms over the last two years. Our next question comes from Michael Morris with Guggenheim Partners. Table of Contents 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. So those candidates who are interested must have checked the companys full details. Such a move has been expected for quite some time, given Warner Bros. The sequel to Fantastic Beasts and Where to Find Them is slated for release 16 November 2018, and filming begins this summer. CASTING SUBMISSION - Actors & Extras It comes after HBO and HBO. 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! We took bold decisive action over the last 10 months and the bulk of our restructuring is behind us. And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. Yes, that's one important ingredient. James was writing Superman. 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 have a great hand and we're doing a lot right. People want to be part of something. But the key to this company is, as a storytelling company, we have this diversity. 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. This company every year give up the chance for new talents. 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. Passionate about supporting Creatives to develop, produce . Discovery to Report Fourth Quarter 2022 Earnings: Listen Live on February 23, 2023 at 4:30 p.m. In the end, there was public backlash over his casting, but not because of his . 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. This year, we celebrate the storied Warner Bros. Studios 100th anniversary with a deepened commitment to telling quality, diverse stories, with the power to entertain, inspire, and when we are at our best, impact or even change the culture. August 15, 2022 10:20am. Despite the full integration of Warner Bros. In Harry Potter and the Deathly Hallows, readers learned that Albus and Gellert were once friends, before becoming arch-rivals. The studio is the flagship producer of live-action feature films within Warner Bros. That's the power of curation. He presented that to you and the press about a month ago. Discovery CEO David Zaslav said the retooling of CNN 'isn't going to happen overnight.'. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. 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. So there was 60% that was hardly being viewed. Warner Bros. Warner Bros. TM & WBEI. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. John Oliver poked at HBO's parent company, Warner Bros. During the fourth quarter of 2022, Warner Bros. And there's lots more to come including the highly anticipated Mortal Combat 12 and Suicide Squad - Kill The Justice League, games also set for release this year with ambitious launch projections. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. Warner Bros. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Your email address will not be published. Our final question comes from John Hodulik with UBS. And I think I just only add go ahead. HBO has never been stronger and is firing on all cylinders behind the recent successes of HBO Originals, Euphoria, House of the Dragon, White Lotus, and our newest mega hit, The Last Of Us. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. And so we're feeling more and more confident about that. 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. Discovery and sort of the earnings power of the organization? China calls for Russia-Ukraine cease-fire, . 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. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. And I think that diversity is strength. 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. A year-over-year increase in corporate expenses were due to a number of factors, almost exclusively related to external market factors such as an incremental $120 million related to underlying rates on our securitization facility. Channing is the best example of that. Obviously, successful films will help your Studio segment earnings. And we hit this year with a full leadership team in place. In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. And we take advantage of all the content that we have. 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 then on the cost side, all of the trends are pointing in the right direction. [Operator Instructions] Our first question comes from Jessica Reif Ehrlich with Bank of America. Games & Home entertainment faced difficult year-over-year comps as well due to last year's COVID-induced tailwind for library content. The closing date for applications is Tuesday, 20 June 2017 at midnight GMT. 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. To that end, linear ad sales is a top priority at the moment, particularly as we balance both cyclical headwinds and ongoing secular challenges, much of which we've dealt with for the last several years. 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. We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. 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. That's not the point. Here we have mentioned the name of the founder below here on page read it carefully. Last year was a year of restructuring. 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. And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA Warner Bros. 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. I believe Warner Bros. TV is the greatest quality maker of content in the world. 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. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. We've been hard at work since our last call and look forward to updating you on our progress. So that storytelling IP. But curation, creating content at a time when people can watch it, creating a community conversation. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. 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. We have an exceptional leadership team that is truly aligned across a common set of strategic, operational and financial goals and metrics. John Oliver in season nine of "Last Week Tonight With John Oliver." Paula Lobo/HBO. Warner Bros. We're going to be releasing 12 films, 6 games. And so I think of the investments that you make in live sports content on Turner, live content on CNN, are those types of things definitely are or they structurally not able to be put on the service? 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. Does that include any potential asset sales like nonstrategic asset sales? Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. Warner Bros. Our next question comes from Brett Feldman with Goldman Sachs. On the advertising side, it's kind of a complex answer. And I think you're going to see a big difference that when we release something, it's going to be a product that we think is the best it could be. 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. Discovery's Q4 Earnings Call. Warner Bros. Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. Anyone under 18 must ask a parent or guardian to send the application. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. FAST is one area that as we look at the evolution of consumer behavior, we look at obviously a lot of the free-to-air viewing moving to what we call free-to-view online. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. 3 min read. 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. To apply for the Fantastic Beasts open casting call, email [emailprotected] with a recent colour photograph, (i.e., taken within the last two months), contact telephone number, your home address and date of birth. All U.S. extremist mass killings in 2022 linked to far right, . 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. . 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. And now you see a very soft scatter market. This company every year give up the chance for new talents. Disclaimer: Audition free of cost for more information visit the respective official site. DC Comics. You do not need to submit this form if you've already submitted to any casting. It's just too early to really call a trend change here. Maybe help us think about the levers you have and your expectations around top line over the next few years? But just as you think about the impact of DC sort of fully realizing the opportunity over the next 5-plus years, what could that mean to Warner Bros. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . Participants must have the right to work in the United States or Canada. Oh, on FAST. 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. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. But the other key is that we have the largest TV and motion picture library and we're the biggest producer of quality content in the world. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. 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 haven't done a Superman movie in 10 years. 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. I think the focus right now is obviously continuing to on the expanded entertainment offering, and we think the complementary of the HBO Max and Discovery+ entertainment offering is significant and will be a major step forward for consumers, who are looking for simplified number of choices, more breadth of options in terms of content all in 1 place and for good value. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. Discovery, for canceling "Batgirl . We definitely are planning for an inflection on the revenue side. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. Partially offsetting revenue headwinds were lower content expenses, distribution fees and marketing costs. For additional information on important factors that could affect these expectations, please see the company's filings with the U.S. Securities and Exchange Commission, including, but not limited to, the company's most recent annual report on Form 10-K and its reports on Form 10-Q and Form 8-K. A copy of our Q4 earnings release, trending schedule and accompanying slide deck is available on our website at ir.wbd.com. And it is shared -- the platform itself for Discovery+ will be a shared platform. NOW CASTING PAID EXTRAS, AGES 18+ to portray WHITE HOUSE STAFF for new NETFLIX & Tyler Perry Studios movie SIX TRIPLE EIGHT (6888). 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? China said on Monday (local time) it sought dialogue and peace for Ukraine despite US warnings that Beijing might be considering weapons supplies for its ally Russia's bogged-down invasion. But the digital inventory, which really held up in the fourth quarter has also softened. 53 min read Participants Andrew T. Slabin; EVP of Global Investor Strategy; Warner Bros. (Photo by Santiago Felipe/Getty Images) The television studio is the latest arm of Warner Bros Discovery forced to make cuts in order to save at least $3 billion after the merger overseen by David Zaslav. And where does the WBD fit in that? Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. We met with 186 of the top leaders in -- for a week in early January. Yes. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. Is that something you're able to comment on now? Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. Please. Based on the traction we are seeing across the broad spectrum of operational and financial KPIs, we expect segment EBITDA to be more or less breakeven in Q1, which implies another $500 million improvement year-over-year, roughly in line with the improvement seen in Q4. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. So we're excited about the fact that we're going to take all of the Discovery content and put it together with the HBO Max content in a much better platform. Discovery, Inc.. Warner Bros. Discovery, Inc. (NASDAQ:WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET, Andrew Slabin - Executive Vice President, Global Investor Strategy, David Zaslav - President and Chief Executive Officer, Gunnar Wiedenfels - Chief Financial Officer, Jean-Briac Perrette - Chief Executive Officer and President, Global Streaming and Interactive. The guidance does not include any asset sales. 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. We've accomplished a significant amount in 2022, and I'd like to take this opportunity to thank the entire finance team for their persistence and resolve in working through these very difficult but necessary first steps, which has resulted in greater command, control and precision across the enterprise and laid the foundation on which we are positioning the company. To participate in the Warner Bros. And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. 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 It's not about getting it out for a certain date. filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID If you have an ad-blocker enabled you may be blocked from proceeding. 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. 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. Open casting calls are something of a tradition in the Wizarding World. Yes. While every applicant will be considered, only those passing the initial consideration round will be contacted. There hasn't been a stand-alone Superman movie in a decade. These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. Warner Bros. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. 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. These shows have averaged as many as 20 million viewers in episode with strong week-over-week growth. No. 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. Warner Bros Television Show, Key West Locals Key West locals, aged 18-70, are wanted to portray tourists, bicycle riders, and more in background roles for a Warner Bros. television project.. Don't forget the 12+ hour blocks of five year old movies every weekend. Discovery The move is part of CEO David Zaslav's self-imposed mandate to find $3 billion in synergies between the two companies. It's not about getting it out quick. It's significantly better outside the U.S. right now, which is a surprise. Taking a step back here, though, I mean, the reason why -- one of the reasons why we carved out the linear business, the network business is, one, separate segment is to be completely transparent about where those trends are moving. 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? And there are times when our share is significantly higher with marquee events, such as March Madness and the MLB and NBA playoffs. View this post on Instagram 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? The Voice, the #1 most watched unscripted show on network TV. Our strategy is no sub left behind. We see price as a very important second part. The fourth quarter marked the end of a first and very defining chapter for Warner Bros. 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. Interested in future casting calls or joining our casting division? . 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. We see better engagement, better churn, which makes marketing efficiencies come up. But I always would err toward price, because I think that's where you really build asset value. And we continue to track above our internal plans. And on the 2023. But in order to do that, we took less volume than we could have. I think it could and should be huge because it wasn't being pushed on. Having said that, as we face this next upfront, which is coming up in two months, I think the breadth of our content together with where we go in on price, positions us very well. Discovery experienced a staggering USD 2.1 billion financial setback. With that, I'll turn it over to Gunnar, and he'll walk you through the financials for the quarter. It's working. Yes. 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. 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. This is some of the most recognized and beloved storytelling IP in the world, and we're excited to tell even more of those stories. Again, creating shows that people want to watch. The Last Of Us, for example, grew its Sunday premier night viewership by about 1 million with each episode over the first 4 weeks. The advertising environment in the U.S. remains very . We got to take those swings. It's about the sustainability and the longevity the free cash flow being delivered by that segment. But -- and I know it's a tough question to put numbers around. And we're seeing some real opportunity here. from casting calls to the lure of the red-carpet award season. 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. The only other thing I'd add, Ben, is for us, it's not just a question of subscriber scaling. 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. It's a wow. What's in there for upside, which is something that you didn't really talk about that much, but it's new? Discovery in which we took some pivotal initial steps. 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. Discovery. It's about telling the best story. 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. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. Number three, evaluating capital allocation opportunities with rigor, so that we can both achieve near-term efficiency and enhance long-term asset value and growth. One of them is off to a very good start. 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. 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