Open casting calls are something of a tradition in the Wizarding World. So there was 60% that was hardly being viewed. Our next question comes from Michael Morris with Guggenheim Partners. Warner Bros. Some are advertiser-driven. 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. Discovery. - David Spade, 'Nothing Personal' 2022. It's not about getting it out for a certain date. And now you see a very soft scatter market. The other point that is front or set up for us is curation. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Warner Bros. 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. Clearly, as we have pointed out as a key risk since the summer, underlying advertising trends, particularly in the U.S., have continued to soften through the fourth quarter, and that was further exacerbated by general entertainment audience declines. 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.. We met with 186 of the top leaders in -- for a week in early January. And to that end, we are now confident in a path to at least $4 billion of savings largely addressable through 2024, representing an increase of $500 million over our prior estimate. Appreciate all the information you just shared. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. Thank you, David. So we do see subscriber scale as one part of the revenue growth story. We see price as a very important second part. Young Sheldon, network TV's #1 comedy. 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 And we are still in the early stages of bringing this comprehensive portfolio together and harnessing all that it can deliver. Webcast. And then we ourselves will run our own fast service. Casting Australia (@warnerbroscastingau) Warner Bros. It's -- those three of the tentpole products that when someone's at dinner anywhere in the world, and they look at their watch at 8:00 and you mention Batman, Superman, Wonder Woman, Harry Potter, Lord of the Rings. Our strategy is no sub left behind. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. John Oliver poked at HBO's parent company, Warner Bros. We're going to be releasing 12 films, 6 games. 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. 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. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . Thank Sure. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. We took bold decisive action over the last 10 months and the bulk of our restructuring is behind us. 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. And so we want to optimize that as a unified strategy for the company. Discovery, Inc. ( NASDAQ: WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET Company Participants Andrew Slabin - Executive Vice President, Global Investor. And so we're feeling more and more confident about that. On the news side, we are fighting hard and making real progress. August 15, 2022 10:20am. All U.S. extremist mass killings in 2022 linked to far right, . In an increasingly challenging environment, we were able to deliver over $3.3 billion of reported free cash flow in 2022, a healthy conversion, notwithstanding significant merger and integration-related expenses. And we take advantage of all the content that we have. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . So again, as I said, a similar picture with more diversity. 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 . MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA 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. You have so many hidden assets within the company. And curating content so that people can watch it and have a shared experience is a very big piece of the Warner Bros. Two questions. Today, with direct-to-consumer, more and more people are joining the party. We've gone through a couple of the puts and takes here. On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - March 10, 2022 684 0 Advertisements On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice Advertisements For additional information on important factors that could affect these expectations, please see the company's filings with the U.S. Securities and Exchange Commission, including, but not limited to, the company's most recent annual report on Form 10-K and its reports on Form 10-Q and Form 8-K. A copy of our Q4 earnings release, trending schedule and accompanying slide deck is available on our website at ir.wbd.com. So, if you know any young acting hopefuls who know their Elder Wand-lore, or have a penchant for Sherbert Lemons, now is the time to let them know. This phenomenon can go for eight, 10-plus weeks for each series. I can't wait for The Flash to hit the theaters in June. And the best thing that we have going for us right now is all of that hard work that we did, and it was probably two years of work that we did in 10 months, it's now almost -- it's overwhelmingly behind us. 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. If you could share your view on those two impacts, that would be very helpful. 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. 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. Last year was a year of restructuring. So those candidates who are interested must have checked the companys full details. We're also thrilled by what we're seeing coming out of our games business, which represents a core part of our overall strategy. Sep 2, 2021 Seeking young performers for Nickelodeon's nationwide (US and Canada) Performers with Disabilities Open Call! Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. The 50 Best Movies of 2022, According to 165 Critics from . And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. It's significantly better outside the U.S. right now, which is a surprise. 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. Thanks, Ben. Discovery Is America's Worst-Run Company,Mismanagement has ruined whatever success Warner Bros. And the response from consumers has been overwhelmingly positive. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. 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. 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. Operator. 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. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. "I was in the movie 'Grown Ups'. But just as you think about the impact of DC sort of fully realizing the opportunity over the next 5-plus years, what could that mean to Warner Bros. 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. At Warner Bros. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. Warner Bros. Our next question comes from Brett Feldman with Goldman Sachs. Q4 revenue growth of 6% against the 12% decrease in combined operating expenses led to a significantly reduced EBITDA loss of roughly $200 million, a $500-plus million improvement year-over-year, notwithstanding a largely content-driven 6% increase in cost of revenue. Social media explodes and people are calling their family and friends to talk about what they saw. 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. And once we establish this funnel, then we can take things like the first season of succession or the second season. 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. But -- and I know it's a tough question to put numbers around. 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 forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. And so I think that is key to us in terms of building the long-term strength. Clearly, you still have some macro challenges, but what could go right? Please disable your ad-blocker and refresh. We see better engagement, better churn, which makes marketing efficiencies come up. I'm just wondering if you can talk about some of these assumptions. 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. Interested in future casting calls or joining our casting division? Let me start with the second. HBO has never been stronger and is firing on all cylinders behind the recent successes of HBO Originals, Euphoria, House of the Dragon, White Lotus, and our newest mega hit, The Last Of Us. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. We also made a decision in the upfront to drive price rather than extra volume. 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. Warner Bros. And I have no doubt that when the market turns, we're going to be in a very, very good position to capture that upswing as well, especially, as David mentioned, with more inventory on the digital side becoming available here, which last year was sort of a limiting factor for us. It gives a huge advantage with those tent poles. 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. Sorry, Robert. Warner Bros. TV Group chairman Channing Dungey, in a memo to employees, explains cuts that will lead to the loss of 125 positions (including 43 vacant slots) - 26% of the division's total workforce. But curation, creating content at a time when people can watch it, creating a community conversation. Our final question comes from John Hodulik with UBS. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. Maybe help us think about the levers you have and your expectations around top line over the next few years? 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 to Report Fourth Quarter 2022 Earnings: Listen Live on February 23, 2023 at 4:30 p.m. 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. We continue to be the place creators are choosing to bring their visions to life. CAB Castings, LLC. Table of Contents 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. Yes. Oh, on FAST. We have a lot of points to be very excited about. In terms of the market itself, it's -- as I've said before, it's not a good environment. We have an exceptional leadership team that is truly aligned across a common set of strategic, operational and financial goals and metrics. 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. And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. Action & adventure 2008 2 hr 32 min English audio (and 13 more) PG-13 CC Buy or rent Christian Bale and director Christopher Nolan reunite following their blockbuster success with Batman. August 4, 2022 04:30 PM ET. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. We can take you into the theater around the world. We have command and control of each of the businesses. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. Overall, 14% of . Discovery Cuts Scripted Programming at TBS, TNT. 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.
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