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.. It gives a huge advantage with those tent poles. 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. Aug 9, 2022, 8:40 AM. 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. Turning to Networks. Casey and the team continue to fuel critical and audience acclaimed with globally resident content, driving improvements in engagement and churn, which is setting up a nice tailwind into the relaunch. 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. We want to tell the best stories, share them with the broadest audience possible, and we do that by working together as 1 team, 1 company. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I'll talk more about that in a minute. And so we're going to be -- Casey is the best example of that. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . If you look at D.C., Harry Potter and Lord of the Rings, and then you take a look at Warner as a company without those three, okay? Warner Bros. China calls for Russia-Ukraine cease-fire, . These outcomes will reflect an incremental $2 billion of synergy and transformation efficiency capture, while additional puts and takes to consider include positive revenue inflection in D2C, the broader release slate at Warner Bros. Pictures and Games, balanced by cyclical advertising headwinds. Warner Bros. And I'm not taking anything off the table here, but I just want to be realistic as well about what we're seeing today. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. So I think this is an exciting time because I think we're really -- we made some tough decisions. 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. Faith Wood-Blagrove beat thousands of other young actresses to the role of Modesty in Fantastic Beasts, and Evanna Lynch was chosen for the part of Luna Lovegood out of 15,000 other young women following open casting in 2006. Appreciate all the information you just shared. Warner Bros. In all that we do, we are guided by three strategic pillars. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. These statements are made based on management's current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from our expectations. The guidance does not include any asset sales. And it all stems from great storytelling. We said starting last August, we believe in profitable scale. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. So those candidates who are interested must have checked the companys full details. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. And getting ready for our new launch. Our next question comes from Michael Morris with Guggenheim Partners. John Oliver in season nine of "Last Week Tonight With John Oliver." Paula Lobo/HBO. A replay of the call will be available approximately two hours after the completion of the call until August 11, 2022. 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. How much do you feel like is more reflective of some of the underlying trends that just have to do with ratings declines or core cutting and those types of trends? The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. 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. 4 talking about this. For us, 2023 is a year of building. We have a lot of motion picture content that we're reworking and making a lot of progress with. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. The studio is the flagship producer of live-action feature films within Warner Bros. You probably know that, because we've kept the lights on at TBS for the last five years.". Our next question SP1 Comes from Robert Fishman with SVB MoffettNathanson. The layoffs represent 14% of Chief Content Officer Casey Bloys' staff, and the eliminated positions are primarily focused on reality content, though other departments including casting and acquisition will also be impacted. This company every year give up the chance for new talents. On the one hand, we have tremendous breadth with live news, live sports, entertainment, nonfiction, a tremendous share and reach. 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. We met with 186 of the top leaders in -- for a week in early January. Here we have mentioned the name of the founder below here on page read it carefully. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. The Warner Bros. Television Workshop is the premier program for new writers and. And on the 2023. Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . And we take advantage of all the content that we have. We've been hard at work since our last call and look forward to updating you on our progress. 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. 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. If you look at The Last Of Us, it was growing every week, Euphoria, to be able to deliver 20 million, 30 million, 35 million people in America watching and to have it be a conversation. And for us, DC alone will be -- could and should be a game changer. The sentiment is not terrific. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. And we continue to track above our internal plans. An unrepentant Zaslav turned up on Thursday to bask in the afterglow of positive quarterly financials: $6 billion in debt repaid since the merger, a combined 1.7 million new subscribers to HBO Max . Is there any of your content that's definitely off the table to be included in that service? 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.. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. The casting of a young Leta would suggest that her character might have a bigger role in the sequel. That's not the point. 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. Table of Contents We haven't done a Superman movie in 10 years. Though we are assuming that things will get better in the second half. It's just too early to really call a trend change here. Can you talk a little bit about the revenue outlook for D2C? We are not conducting any type of audition. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. 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. And while we are comping the Winter Olympic Games in Q1, which we expect will account for roughly 100 basis point headwind to our global advertising growth rate, we see underlying international trends modestly improving. And most importantly, we saw improvement across key KPIs. Discovery might have had. Christian Zilko Last year was a year of restructuring. But in order to do that, we took less volume than we could have. Two questions. One of them is off to a very good start. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . And that is what all great talent wants. I saw it and loved it. The poor actors and directors of the . The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . We've contended with recent share shifts away from our portfolio during the NFL and College Football season and the World Cup. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . So we have a best -- we have all this work that we've done to build this platform will be taken, so that to the benefit of all of our subscribers on all of our different products. ; Paula Lobo/HBO the program was created to provide undiscovered and underrepresented actors, particularly people disabilities. Your content that we have mentioned the name of the call until August 11, 2022 Week with... Replay of the call until August 11, 2022 two hours after the completion of the call August. Is an exciting time because I think this is an exciting time because I think is... About that in a minute an exciting time because I warner bros casting calls 2022 this is an exciting time because I this! 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