Warner Bros. Discovery Q4 Hit By Softer Advertising, Strike Impact; “We Have An Attack Plan For 2024” – David Zaslav
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deadline.comWarner Bros. Discovery saw revenue dip but losses narrow in the last quarter of 2023. Free cash flow grew — a key metric that allows the David Zaslav-led media giant to continue chipping away at its hefty debt, which it is doing.
It ended the year with 97.7 global streaming subscribers — including 1.3 million from BluTV, the Turkish streamer it acquired in December.
Revenue of close to $10.3 billion compared with $11 billion the year before, down 7%. Revenue at the television studio was hit by the impact of the WGA and SAG-AFTRA strikes, with production still revving up.
Theatrical revenue was higher on more releases, including Aquaman And The Lost Kingdom, despite a bit a softer opening than expected for that, and for The Color Purple.
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