Warner Bros. Discovery Adds Nearly 2 Million Streaming Subscribers to Max & Discovery+





Today Warner Bros. Discovery announced its 1st quarter 2024 earnings. For streaming there was a lot of good news as Max and Discovery+ added two million subscribers. The streaming services hit $86 million in profit across all of its streaming services.

 “We are pleased with our progress in the first quarter as evidenced by strong results in important KPIs. We delivered meaningful growth in our streaming business with a nice acceleration in ad sales, generating nearly $90 million in positive EBITDA for the quarter. We will soon be rolling out Max to 29 countries across Europe, and the content lineup for Max over the coming year is one of our strongest ever. Warner Bros. Pictures also had a
strong start to the year as the first studio to reach $1 billion in both overseas and global box office, and they have a great slate in the works. Importantly, we once again delivered strong free cash flow, even in our seasonally weakest FCF quarter. We continue to make bold moves to transform our company for the future as we position ourselves to take full advantage of the opportunities ahead.” Said David Zaslav Prsident and CEO of Warner Bros. Discovery.

Total revenues were $9.958 billion, down 7% year over year. To help continue the growth of streaming, Warner Bros. Discovery announced that they will continue to roll out Max to new areas. This can hopefully offset some weaknesses in its studio and network segments. Over all Studios fell 13% to $2.82 billion. Theatrical revenue, though, jumped thanks to several popular movies, including Dune: Part Two.

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