Max. number of subscribers rises to 110 million, Warner Bros Box Office falls
Warner Bros. Discovery reported its third-quarter 2024 earnings results on Thursday. The July 1-Sept. The 2030 period ended with WBD’s HBO, Max and Discovery+ adding more than 110 million global subscribers while box office sales fell 40% compared to last summer’s blockbuster “Barbie.”
Wall Street forecasts an earnings loss per share (EPS) of 9 cents on revenue of $9.8 billion, according to consensus data from LSEG analysts. Warner Bros. Discovery reported revenue of $9.6 billion.
“Warner Bros. results. Third quarter discoveries show that again as we continue to confront
extraordinary disruption in our environment, the strategy we’ve undertaken to get Warner ready
Brittle. Discovery for Future Success is showing significant results,” CEO David Zaslav said in a letter to shareholders. “Thanks to our rapid international expansion and continued investments in high-quality, diverse content, we saw momentum accelerate in our global Direct-to-Consumer business in the third quarter. In total, Max added 7.2 million net subscribers, the strongest quarterly gain since the platform launched, resulting in healthy subscriber-related revenue growth and meaningful progress toward achieving our 2025 financial goals for the Direct-toConsumer segment Similarly, our recently announced strategic partnership with Charter Communications, for both linear network distribution and the bundling of Max, not only strengthened the value of our content portfolio, but also represented our willingness to work with our partners to enhance the consumer experience. while our sector undergoes transformation.”
More to come…
