After Another Missed Earnings Call, Warner Bros. Discovery Has Some New Ideas
Image Source: fastcompany
During the earnings call of Warner Bros. Discovery, it was reported that their revenue has continued to fall short of what analysts expected of them.
That earnings call revealed some aggressive changes coming to help bring the company out of its $47.5 billion net debt. Chief among those is an increased focus on franchises with the pull to be successful, as well as a focus on the merged streaming service of HBO Max and Discovery+ that will be coming in the Spring of next year.
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For the streaming service, the streaming and games CEO JB Perrette indicated that prices for the service will be increasing, with the cheaper tier potentially seeing its advert load double from its current level. There’s a strategic focus on those ad-supported tiers as the company estimates 2 billion users of all their platforms globally, allowing them to increase the ad revenue from the service.
Warner Bros. Discovery CEO David Zaslav talked about the company’s franchises, citing that Harry Potter and DC movies provided large profits for Warner Bros. Motion Pictures across the last 25 years. Focusing on movies “that have brands that are understood and loved everywhere in the world” will be a large part of the company’s content in future years.
The company’s financial stability is uncertain, with high-profile projects being cancelled to save money. Batgirl is one seeing a lot of coverage because it is cited as one of the most expensive cancelled cinematic projects ever. Whether such aggressive plans can turn the company’s future around remains to be seen.
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