Warner Bros. Discovery added 2 million direct-to-consumer (DTC) subscribers in the first quarter of 2024. It now has a total of 99. 6 million DTC subscribers on Max, linear HBO (yes, that still exists), Discovery, and some of the little foreign streamers you’ve never heard of, don’t worry about them.
The company breathed in Wall Street’s quarterly earnings estimates, both high and low. WBD lost 40 cents on a percentage basis, versus an estimated loss of 24 cents; It reported a global profit of less than $10 billion, compared with the analyst consensus of $10. 2 billion.
Warner Bros. had some reports of “Wonka” and “Aquaman and the Lost Kingdom” for the quarter, but more importantly, it released “Dune: Part Two” on March 1. WB also had a premiere weekend for “Godzilla. “vs. Godzilla. ” Kong: The New Empire” in the first quarter (“Dune 2” and the new “Godzilla” movie were mythical releases).
“Dune: Part Two” has grossed more than $700 million at the global box office — it’s the biggest film of 2024 so far. Despite this, Warner Bros. profits fell 70% from the same quarter last year. it’s captured in the segment, and it’s a tough comparison between last year’s massive “Harry Potter” video game and this year’s underwhelming “Suicide Squad” game that led to the blatant fall.
It’s also worth noting the quarter in which Warner Bros. virtual content company Rooster Teeth shut down in March.
As announced in the past, WBD, Fox and Disney plan to launch a joint sports streaming service this fall. We don’t have a call or a value yet. Disney revealed its January-March effects on Tuesday and Fox on Wednesday, so those partners may not say more anytime soon. Zaslav will have his turn to say nothing when Warner Bros. Discovery hosted a conference call with media analysts (and media) this morning at 8 a. m. ET/5 p. m. PT.
But now there’s something (possibly) more appealing to talk about in the streaming partnership space. On Wednesday, Disney and Warner Bros. Discovery announced a new streaming package coming this summer that will combine Disney, Hulu and Max. Skip this one. ) We don’t yet have a value for the revolutionary new trio, which follows a duet Max once made with Verizon Wireless.