And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. That's not the point. Discovery and sort of the earnings power of the organization? 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? I'll talk more about that in a minute. 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 . If you have an ad-blocker enabled you may be blocked from proceeding. Warner Bros Casting Calls are the most useful tools for those who are feeling capable that they can make an immediate impact on their acting careers, but aren't well-enough known to get invited to usual castings. And we've lapped that now, and we're seeing some growth now. The gaming business is all consumer product driven. 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. A year-over-year increase in corporate expenses were due to a number of factors, almost exclusively related to external market factors such as an incremental $120 million related to underlying rates on our securitization facility. Moreover, we're analyzing our pricing strategy in a number of key international markets, particularly in LatAm, where we believe our service has significant pricing upside. Christian Zilko Join the Fan Club and bring your traits with you. Discovery Cuts Scripted Programming at TBS, TNT. This is one team now. 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. Given we're still in the first year following the closing of our acquisition, I will discuss the P&L impact on a pro forma ex-FX basis. To apply for the Fantastic Beasts open casting call, email [emailprotected] with a recent colour photograph, (i.e., taken within the last two months), contact telephone number, your home address and date of birth. We met with 186 of the top leaders in -- for a week in early January. You do not need to submit this form if you've already submitted to any casting. Use the form below to submit your basics and we'll reach out to you when the next big film casts! Warner Bros. 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. So there was 60% that was hardly being viewed. Disclaimer: Audition free of cost for more information visit the respective official site. James was writing Superman. All the meetings that I've had in the last two weeks are about great content that we're producing, meeting with creatives that want to come here, how we -- what more shows are we going to be selling, what more shows are we going to be keeping on our platform? Young Sheldon, network TV's #1 comedy. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. We have command and control of each of the businesses. And I think our diversity, we have all these different assets that have -- that are different. Discovery, for canceling "Batgirl . And once we establish this funnel, then we can take things like the first season of succession or the second season. Our strategy is no sub left behind. John Oliver poked at HBO's parent company, Warner Bros. Margot Robbie, who plays Barbie, is instantly as Barbie-esque as you could imagine, all blond hair and smiles and bright pink car. In every country, they'll leave dinner and they got to go home to view that product that they love. The other point that is front or set up for us is curation. And we have high hopes for all of these metrics after the combined product launches to further improve. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. The Hogwarts game, we took several additional months to rework it, to get it right. 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. Discovery's Q4 Earnings Call. 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' It's working. We do expect the cash cost to achieve synergy and transformation efforts will be around the higher end of our $1 billion to $1.5 billion guide given the expanded synergy target, some of which possibly hitting in 2024. The advertising environment in the U.S. remains very . Please disable your ad-blocker and refresh. Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. I'm confident that we will get there, particularly with some of the operational and content-driven initiatives implemented by Kathleen Finch and her team. 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. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. I mean just how should we think of sort of pricing and how should that translate into sort of results as we look out to '23? So we're excited about the fact that we're going to take all of the Discovery content and put it together with the HBO Max content in a much better platform. 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. A replay of the call will be available approximately two hours after the completion of the call until August 11, 2022. Warner Bros. Global core subscribers increased 1.1 million sequentially and 10 million year-on-year, while global ARPU increased as well modestly to $7.58. But the other key is that we have the largest TV and motion picture library and we're the biggest producer of quality content in the world. 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. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. I mean, pot levels in the industry, I think, were down 14% in the quarter. Discovery. Arguably, we've done a little worse than that, partly driven by the scheduling or the sports schedules that David mentioned a couple of minutes ago. 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. For those that are happy paying $5 or $7 and having home, food, Discovery and own type content. And we're curating now in a way that's having an impact on America. We've been hard at work since our last call and look forward to updating you on our progress. It reminds me of my time at NBC when Thursday Night was must-see TV. But the key to this company is, as a storytelling company, we have this diversity. That's what we're looking to primarily deliver. She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. So I think we're very well positioned. The guidance does not include any asset sales. And there's lots more to come including the highly anticipated Mortal Combat 12 and Suicide Squad - Kill The Justice League, games also set for release this year with ambitious launch projections. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. 2023 will be a year of building and off we go. Good afternoon, and welcome to Warner Bros. But I always would err toward price, because I think that's where you really build asset value. Warner Bros. One of them is off to a very good start. Distribution revenues on the whole were impacted primarily by subscriber declines in the U.S. and lower affiliate rates in certain European countries, while larger contractual rate increases in the U.S. and premium sports packages in Latin America helped to offset part of this impact. And there are times when our share is significantly higher with marquee events, such as March Madness and the MLB and NBA playoffs. You've been ahead of the curve here, but it seems like everyone these days is reshaping their streaming strategy in pretty profound ways, whether it's their org structure, their content spend, types of content investments, philosophy around content exclusivity and licensing, international, pricing and just so much more. During the WBD quarterly earnings call, Zaslav . This phenomenon can go for eight, 10-plus weeks for each series. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. Sorry, Robert. We can put you on HBO on a Sunday or Monday night, where it's must see streaming TV or we could have to we've launched your movie. Discovery, we believe we have the strongest hand in the industry, with the most complete portfolio of assets and globally renowned franchises, personalities and storytelling IP, across sports, news, nonfiction and entertainment, in virtually every region of the globe and in every language. 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. But -- and I know it's a tough question to put numbers around. So that storytelling IP. First, let me say, this promises to be a very exciting year for our company. 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. Oh, on FAST. And to that point, I have no doubt that we have years and years of that coming our way. 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. We've effectively done that now, but we had to take two different sales teams and pull them together. It gives a huge advantage with those tent poles. Warner Bros. is a global leader in all forms of entertainment, from movie and TV screens to mobile devices, store shelves and beyond. 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. Again, creating shows that people want to watch. Turning to Networks. Discovery. Stay tuned for more to come on this front. We can take you into the theater around the world. China said on Monday (local time) it sought dialogue and peace for Ukraine despite US warnings that Beijing might be considering weapons supplies for its ally Russia's bogged-down invasion. And in fact, we're -- we use news and sports quite effectively in Europe, and we've learned a lot about when it does work and when it doesn't. 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.. I think the focus right now is obviously continuing to on the expanded entertainment offering, and we think the complementary of the HBO Max and Discovery+ entertainment offering is significant and will be a major step forward for consumers, who are looking for simplified number of choices, more breadth of options in terms of content all in 1 place and for good value. Thanks, Ben. Warner Bros. didn't even have the courtesy to give the "Batgirl" cast and creative team a bat signal that their movie was being locked away in Arkham. It was a heavy lift to bring 2 teams together, notwithstanding the economy being what it was, and we are now drilling down on all facets of the business. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. Our next question comes from Ben Swinburne with Morgan Stanley. This is some of the most recognized and beloved storytelling IP in the world, and we're excited to tell even more of those stories. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. That HBO Max, whatever we call it on the launch, is a product that we take around the world and that has a real impact on how people consume content. And so we'll keep in mind this balance of volume versus price. Discovery CEO David Zaslav said the retooling of CNN 'isn't going to happen overnight.'. For us, 2023 is a year of building. And back then, you had to watch the show on Thursday night. The sequential improvement in Q4 free cash flow versus Q3 was the result of greater EBITDA, the timing of interest payments on acquisition debt and some first improvements from working capital initiatives. We've contended with recent share shifts away from our portfolio during the NFL and College Football season and the World Cup. On the 12th, we'll lay out to you, we have a clear attack plan, where we'll drive this really across the country and into markets around the world with conviction. Let me start with the second question. Overall, 14% of . We have the largest maker and seller of content in the world, and while we've got lots more to do, we are increasingly seeing positive traction and strong proof points. Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. And then there was a lot of content that just wasn't being viewed. Looking for Pottermore? Turning to the total company EBITDA outlook. But in addition, we want to run this company to drive free cash flow and the ability to monetize a lot of the content that isn't critical to subscriber growth. We have an unusual situation. 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. And so we were able, in many ways, to Monday morning quarterback. They have great plans to revitalize the nets and have also begun to use our exceptional library of film and television content in a way that will benefit our linear and cable networks. 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. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. Here we have mentioned the name of the founder below here on page read it carefully. We can put that down on our AVOD service. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. Warner Bros. 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. 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 attends NRDC's "Night Of Comedy" Honoring Anna Scott Carter at Casa Cipriani on September 20, 2022 in New York City. Channing is the best example of that. The market is -- the macro environment is very challenging. Last year was a year of restructuring. So I was hoping you could just give us your most updated thoughts, so we kind of have that framework for assessing the new product when you rolled out on April 12. Interestingly, the actor cast as the titular character, Austin Butler, isn't the most well known, and audiences will probably know him best as the Manson family member Tex Watson in Once Upon A Time In Hollywood . I think it could and should be huge because it wasn't being pushed on. Moreover, the exit rate coming out of the fourth quarter lends confidence in continued very strong financial performance thus far in Q1 and into our soon-to-be relaunched D2C offering. Obviously, successful films will help your Studio segment earnings. And most importantly, we saw improvement across key KPIs. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. Table of Contents People want to be part of something. 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. It's the backbone of what we're doing, and we'll keep investing. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. I remain very optimistic about the range of potential outcomes in 2023 and beyond. Q&A session is now closed, which concludes today's conference. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. The biggest unknown continues to be in the ad sales environment. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. December 13, 2021. So we do see subscriber scale as one part of the revenue growth story. At Warner Bros. And that isn't critical to or helpful to churn. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. And I'm very, very glad that we put out some targets in the summer of last year, and we were able to hit those targets. I think you used it during your script. Naturally, we are laser-focused on delevering the balance sheet, where I see net leverage very comfortably inside of 4x by the end of 2023 and reiterate our prior guidance to be within the investment grade range by mid-2024 and within our gross leverage target of 2.5x to 3x by the end of 2024. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. Accordingly, we expect free cash flow in the first quarter to be negative. J.B., anything to add to that? No question about that. Well, look, we were laser-focused on building this DC 10-year plan. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . During the fourth quarter of 2022, Warner Bros. Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . But curation, creating content at a time when people can watch it, creating a community conversation. Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. It's 1 of the biggest value creation opportunities for us. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. 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. You probably know that, because we've kept the lights on at TBS for the last five years.". And we're able to align our networks on a coterminous basis with these distributors. John Oliver in season nine of "Last Week Tonight With John Oliver." Paula Lobo/HBO. We believe strongly in the importance of the motion picture window and having that shared experience with other people. So I think this is an exciting time because I think we're really -- we made some tough decisions. We have full command and control of our business, and we are one company now. Warner Bros. That's the power of streaming. We have an exceptional leadership team that is truly aligned across a common set of strategic, operational and financial goals and metrics. 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. Yes. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. 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? 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 With the successful launch of Hogwarts Legacy 2 weeks ago, we reimagined 1 of the biggest global franchises in the world. And so I think of the investments that you make in live sports content on Turner, live content on CNN, are those types of things definitely are or they structurally not able to be put on the service? Webcast. Our final question comes from John Hodulik with UBS. And the response from consumers has been overwhelmingly positive. And I think I just only add go ahead. Though we are assuming that things will get better in the second half. We'll definitely -- we're definitely planning for revenue improvement. And so -- which -- where we pivoted and said we were going pushing to move all of our films back out with real windows in order to optimize those products. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. Photo: Kevin Dietsch/Getty Images. TM & WBEI. Well, look, for us, the market right now, our focus is building a best-of-class product and putting all of our content together and so that it's easy to consume and that people are aware of all the different content that we have. We have a lot of points to be very excited about. Is there -- what are you considering? And now we're -- this year, you're going to see us fighting on DC. We do see the weekly bookings right now ticking up slightly if you compare January and February with maybe the November, December timeframe, looking a little better; retail, fast food, entertainment, a little better; telecom, small, but coming back; but then you've got other areas like technology is still completely depressed. Help your studio segment earnings back within 14 days of their original.. Point, I think this is an exciting time because I think that what. Metrics after the combined product launches to further generate real free cash flow in the ad sales.! 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