Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. The Hogwarts game, we took several additional months to rework it, to get it right. Clearly, you still have some macro challenges, but what could go right? And back then, you had to watch the show on Thursday night. It's working. And as we think about where we put content, as Casey looked at HBO, we were able to see which content are people spending time watching, what content is really powerful to us in terms of reducing churn. Global core subscribers increased 1.1 million sequentially and 10 million year-on-year, while global ARPU increased as well modestly to $7.58. 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. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. So we do see subscriber scale as one part of the revenue growth story. Storytelling content is most powerful when you're watching it and then you're with others, either in a theater, or you're able to talk about it either online or with your friends, that's the power of content, not when you're viewing content alone. We see price as a very important second part. 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.. 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. To participate in the Warner Bros. Obviously, successful films will help your Studio segment earnings. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. But in order to do that, we took less volume than we could have. Casting call: Warner Brothers feature film "The Curious Incident of the Dog in the Night-Time" by admin Seeking a neurodivergent actor to play lead role The Curious Incident of the Dog in the Night-Time is a Warner Bros. feature film expected Note that merger and integration-related cash costs totaled nearly $150 million in Q4 and nearly $800 million for the year, in addition to a nearly $350 million headwind from securitization and factoring since the closing of the deal in early April. 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. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. David, if James and his DC strategy is successful, which I'm sure is your expectation, what does that mean for the company overall over the long term? Two questions. I'd like to ask about advertising trends you're seeing and maybe kind of advance this discussion a bit more. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. We haven't done new Harry Potter content in over a decade. Is there any of your content that's definitely off the table to be included in that service? 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? Marvel's Guardians will star alongside Chris Hemsworth (Thor), Natalie Portman (Jane Foster/Mighty Thor), Tessa Thompson (Valkyrie), and Christian Bale (Gorr the God Butcher), among other new and. And why should we need to monetize that in order to drive shareholder value. We work, grow and create world class content in one of the biggest, busiest studio lots in the industry, as well as at countless studios, sets and offices around the globe. media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . And so I think that is key to us in terms of building the long-term strength. It gives a huge advantage with those tent poles. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. The decisions we've made and the strategies we've set in motion 10 months ago have created a solid foundation and we're starting to see strong momentum. Disclaimer: Audition free of cost for more information visit the respective official site. That's not the point. First, let me say, this promises to be a very exciting year for our company. We brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. Aug 9, 2022, 8:40 AM. We're assuming that. Discovery to Merge Streaming Services James Gunn, and Peter Safran were Appointed to Be Executives of DC Studios 'Stranger Things' Caleb McLaughlin Says He Wants to Place 'Static Shock' Margot Robbie on Lady Gaga Cast to Play Harley Quinn in 'Joker 2' Discovery. We can take you into the theater around the world. Through the end of 2022, we've already realized over $1 billion of synergy, inclusive of a couple of hundred million dollars of course-corrective measures that we undertook early after launching Warner Bros. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. I do believe, as JB said, and we do believe, as a company, that we'll sort of recreate this -- the streaming service, which is ad free, then which -- then there'll be ad-lite. 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 comes after HBO and HBO. Table of Contents Sir, you may now begin. We repaid $1 billion of debt during Q4, bringing the total debt repaid since the closing of the transaction to $7 billion, and we ended the quarter with $49.5 billion gross debt and nearly $4 billion of cash on hand, implying net leverage just below 5x. Thank you, Jessica. Thank you for attending today's presentation. 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. We were able to put that to work behind some of cases launches, behind some of our film launches. Keep one thing in mind, the entire last year was impacted by this headwind from coming off of Amazon. For us, 2023 is a year of building. It's just too early to really call a trend change here. And I think our diversity, we have all these different assets that have -- that are different. In the end, there was public backlash over his casting, but not because of his . Q4 revenues decreased 9% year-over-year, while adjusted EBITDA decreased 2%, helped by a reduction in consolidated SG&A by 22%, a bit more than we guided to. 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. Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. Internationally, as I've said before, we look at our pricing is significantly under where we think the market is. Reportedly Cancels 'Wonder Woman 3' Warner Bros. Elvis is a 2022 biographical drama film directed by Baz Luhrmann and written by Luhrmann, Sam Bromell, Craig Pearce, and Jeremy Doner.It follows the life of the American rock and roll singer and actor Elvis Presley, told from the perspective of his manager, Colonel Tom Parker.It stars Austin Butler as Presley with Tom Hanks as Parker, while Olivia DeJonge, Helen Thomson, Richard Roxburgh . Discovery Second Quarter 2022 Earnings Call. On direct-to-consumer, we are making meaningful progress on our goal to achieve real profitability in streaming, a key and powerful segment of our company. Discovery CEO David Zaslav wants to redeem his predecessors' failure to rival Disney with its library of intellectual property through an unprecedented focus on tentpole events. 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. So David, as you said, '22 was a year of really heavy lifting and you had challenges really in every division, whether it was film, advertising, CNN, et cetera -- I mean, macro, et cetera, D2C. October 27, 2022 THE LATEST Casting Lady Gaga Joins. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. The creative co-lead and co-chairman of DC Studios have confirmed the entertainment studio is separate from Warner Bros. Pictures Group As per CBR via the social news aggregate website, Reddit . And I think there was a lot left on the table. This company every year give up the chance for new talents. And we continue to track above our internal plans. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. As you look out to '23, I think Gunnar kind of touched on some of the potential tailwinds, but it sounds like you're walking away from close to $12 billion in EBITDA to maybe low to mid-$11 billion in EBITDA. Discovery The move is part of CEO David Zaslav's self-imposed mandate to find $3 billion in synergies between the two companies. All U.S. extremist mass killings in 2022 linked to far right, . SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. We're going to be releasing 12 films, 6 games. The casting of a young Leta would suggest that her character might have a bigger role in the sequel. Our next question comes from Michael Morris with Guggenheim Partners. 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. Webcast. We continue to expect to convert 1/3 to half of EBITDA into free cash flow, as I stated earlier, with the key determinants and drivers of growth being the magnitude of EBITDA, net cash content spend, the impact of working capital initiatives, and the timing and magnitude of a trend change in the advertising market. Warner Bros. 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. So I think that's something that's really resonating with the creative community that their content is seen, it's curated and it's elevated and that's part of the cultural conversation, both in the theater and on the platform. I believe we've barely begun to scratch the surface in terms of the potential here, and I'm excited about the benefits as this cascades throughout the organization. No previous acting experience is necessary, but applicants need to be eligible to work in the UK (meaning they must be a UK, Irish or EU passport holder), and be available for filming between August and November 2017. That's what led us to the conclusion that direct to streaming movies were providing really no value to us. People want to be part of something. I think it could and should be huge because it wasn't being pushed on. Warner Bros. The poor actors and directors of the . As always, we are not managing this company for short-term financial performance, but rather with the next 100 years of this vibrant creative organization in mind. Yes, that's one important ingredient. I believe Warner Bros. TV is the greatest quality maker of content in the world. 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. Thank you, David. MACON RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA By Kevin P. King - April 7, 2022 487 0 Advertisements On Location Casting *RUSH CALL* - TODAY! 4 talking about this. Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. And that isn't critical to or helpful to churn. Consistent with what we told you last August, we are getting ready to launch our combined streaming service here in the U.S. in a few months with Latin America to follow later this year and markets in EMEA and APAC in '24. The Voice, the #1 most watched unscripted show on network TV. These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. So that is having some impact on us versus others that were -- that took a much bigger position in the upfront. The guidance does not include any asset sales. We have an unusual situation. We've already seen more than $850 million in retail sales, and we still have more platforms launching over the next few months. On the one hand, we have tremendous breadth with live news, live sports, entertainment, nonfiction, a tremendous share and reach. There hasn't been a stand-alone Superman movie in a decade. The reality is, in today's environment, I think it would be -- you wouldn't want us to say we have a static a 100% defined windowing strategy. And when you tell them a great story and they get to experience it with others, either in a packed theater or on a Sunday night, it really is magic. And so we -- as the largest owner and producer of content in the world, we'll -- we want to super serve effectively our streaming service, which is a top priority as well as an AVOD service so that we could reach everyone in every country, everywhere in the world. 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. The only other thing I'd add, Ben, is for us, it's not just a question of subscriber scaling. John Oliver in season nine of "Last Week Tonight With John Oliver." Paula Lobo/HBO. James was writing Superman. A few weeks ago, James and Peter rolled out Phase I of their highly anticipated multiyear plan for DC Studios across film, television and animation with 5 films and 5 television series already in the works, the new era for DC under a single creative vision is in full swing, and we are especially eager to thrill fans with new Superman and Batman movies in 2025. And with the breadth and depth of content that we have across the company, we think we're very uniquely able to do that without jeopardizing or risking the subscription business, the theatrical business or some of our upstream windows, which we'll obviously continue to focus on. I want to follow up on the streaming discussion. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. The 50 Best Movies of 2022, According to 165 Critics from . This is one team now. 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. I saw it and loved it. 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.. But we'll take you through what that plan is and how we intend to do it on the 12th, but well locked and loaded. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. I think you used it during your script. Newt Scamanders relationships and past remain enigmatic, so any glimpse into his formative years will be huge for the character. 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. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. 3 min read. The reality is the market is evolving so dynamically that what we are doing is as 1 team, looking at all the different windows and what our real asset is having actual distribution assets in almost every form of media, whether it be linear television, on-demand television through streaming, games, theatrical distribution, free-to-air, pay TV. We've rightsized the content investments. But I also think we're very well positioned to grow from here. Your email address will not be published. International markets continue to perform relatively better, stronger markets such as Poland and Italy were in part offset by weaknesses in the UK, Nordics and certain Latin American countries. Operator. 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. It's working. Warner Bros. Casting Australia (@warnerbroscastingau) An open casting call has gone out for three actors between the ages of 13 and 16 to play young versions of Newt, Leta, and another character called Sebastian. We took bold decisive action over the last 10 months and the bulk of our restructuring is behind us. 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. We definitely are planning for an inflection on the revenue side. 2023 will be a year of building and off we go. Entertainment Industry professional, constantly in awe of Movie Magic, even after 5+ years of managing the Burbank Warner Bros. It's working. 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. Anyone under 18 must ask a parent or guardian to send the application. And it's the same principle with theatrical, perceived value of content increases when there's a great expectancy and excitement. Is that something you're able to comment on now? They want -- they want to have an opportunity for their content to be seen, to be talked about, and they want to feel respected. And on the 2023 outlook, look, it's early in the year. 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. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . Of course, the other stipulations include being "willing and available" to film for the duration of the series which could be as long as 12 weeks and will commence around mid-June to mid-August of 2021. Yes. We also signed fast content deals with Roku and Tubi, adding to these popular platforms, hundreds of our TV shows and movies, while maximizing the reach and overall value of our content. We met with 186 of the top leaders in -- for a week in early January. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. We have a great hand and we're doing a lot right. Among them, the integration and repositioning of our global finance organization through which we implemented a number of initiatives to drive efficiency and better support the company's long-term sustainable growth. We haven't done a Superman movie in 10 years. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. 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