Is that -- it sounds like you guys have, on the one hand, a lot of new programs, a lot of new movies and a lot of new initiatives; but at the same time, pulling some content on the floor. 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. 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. The guidance does not include any asset sales. 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. And I think that diversity is strength. So a lot to be looking forward to. We've rightsized the content investments. In answering that question, you reiterated something you'd said before, which was an intent to fold the Discovery content into the new product. Disclaimer: Audition free of cost for more information visit the respective official site. 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. 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? I have one for David and then one for J.B. or Gunnar. 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. This doesn't yet reflect the $1 price increase on the ad-free retail tier in the U.S. that was implemented in January and which has been digested quite well. So again, as I said, a similar picture with more diversity. We brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA It's working. I'm just wondering if you can talk about some of these assumptions. And while we are comping the Winter Olympic Games in Q1, which we expect will account for roughly 100 basis point headwind to our global advertising growth rate, we see underlying international trends modestly improving. Today, I'm thrilled to announce that Mike and Pam signed a deal to make multiple Lord of the Rings movies. 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. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. That said, there's still more that we need to get right and we are hard at work. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. 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? Adjusted EBITDA decreased 7% as revenue declines were partially offset by lower content expenses as well as lower personnel and marketing costs, in part reflecting our cost synergy efforts. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. And we have high hopes for all of these metrics after the combined product launches to further improve. And that is what all great talent wants. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. Kathleen is doing a lot of work, getting the enormous value of our library on screen. 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. These outcomes will reflect an incremental $2 billion of synergy and transformation efficiency capture, while additional puts and takes to consider include positive revenue inflection in D2C, the broader release slate at Warner Bros. Pictures and Games, balanced by cyclical advertising headwinds. In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. WBD 15.42 +0.67 Warner Bros. from casting calls to the lure of the red-carpet award season. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . "I was in the movie 'Grown Ups'. That's what we're looking to primarily deliver. 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. And that isn't critical to or helpful to churn. Nov 3, 2022 2:02pm PT Warner Bros. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. We reduced EBITDA losses by $500 million year-over-year to $200 million in Q4, supported by 1.1 million net sub adds in the quarter. - David Spade, 'Nothing Personal' 2022. The fourth quarter marked the end of a first and very defining chapter for Warner Bros. And it's the same principle with theatrical, perceived value of content increases when there's a great expectancy and excitement. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. 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. Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. We got some of the best creatives in the industry right now focused on those swings. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. 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. He presented that to you and the press about a month ago. TM & WBEI. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. 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. We have an unusual situation. Discovery experienced a staggering USD 2.1 billion financial setback. 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. Leta Lestrange was mentioned in the first Fantastic Beasts film as having a close friendship with Newt at Hogwarts, and her photograph was seen in Newts workshop. 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. Does that include any potential asset sales like nonstrategic asset sales? And so we're feeling more and more confident about that. Studio. And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. Looking ahead within the Studio, 2023 will be a pivotal year, particularly behind our larger and broader release slates at both Warner Bros. Pictures and DC, not to mention a wonderful start with Hogwarts Legacy on the game side. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. August 15, 2022 10:20am. And getting ready for our new launch. Warner Bros. We've been hard at work since our last call and look forward to updating you on our progress. We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. And we are excited for Mike and Pam to lead the studio into its next chapter, which in 2023, will see output more than double. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. Today, with direct-to-consumer, more and more people are joining the party. It's 1 of the biggest value creation opportunities for us. 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. We have Channing and her team right now with the #1 or #2 show on almost every platform in America where we're selling to all of our -- to our peers in the business. The closing date for applications is Tuesday, 20 June 2017 at midnight GMT. Before we start, I'd like to remind you that today's conference call will include forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. The Warner Bros. Television Workshop is the premier program for new writers and. One of them is off to a very good start. On the advertising side, it's kind of a complex answer. We are not conducting any type of audition. International, some areas actually trending up now, others still difficult. The studio is the flagship producer of live-action feature films within Warner Bros. We have profitable subscribers that are very happy with the product offering of Discovery+, why would we shut that off. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. 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. 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. I remain very optimistic about the range of potential outcomes in 2023 and beyond. John Oliver poked at HBO's parent company, Warner Bros. 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. We have a lot of motion picture content that we're reworking and making a lot of progress with. The game was 1 of the most highly anticipated of 2023. Open casting calls are something of a tradition in the Wizarding World. To that end, linear ad sales is a top priority at the moment, particularly as we balance both cyclical headwinds and ongoing secular challenges, much of which we've dealt with for the last several years. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. And one of the tenets is we're not going to launch any content before it's time. 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. Last year was a year of restructuring. We have a lot of points to be very excited about. And so we are a storytelling company. Starting with the Studio segment. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. Warner Bros. Television Group has more than 110 shows currently in production across our own platforms as well as third-party broadcast, cable and streaming outlets, including Emmy Winners, Ted Lasso and Abbott Elementary. And I think I just only add go ahead. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. Discovery The move is part of CEO David Zaslav's self-imposed mandate to find $3 billion in synergies between the two companies. Discovery in which we took some pivotal initial steps. 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. 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, Inc. (NASDAQ:WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET, Andrew Slabin - Executive Vice President, Global Investor Strategy, David Zaslav - President and Chief Executive Officer, Gunnar Wiedenfels - Chief Financial Officer, Jean-Briac Perrette - Chief Executive Officer and President, Global Streaming and Interactive. Thank you for attending today's presentation. Hello, everyone, and thank you for joining us. Those shows had a supersized effect on people and culture. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . 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. You had 6% growth this quarter, a lot of that from advertising and content, but do you need revenue growth to accelerate in order to deliver that $1 billion? 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. We see price as a very important second part. And now you see a very soft scatter market. And we've lapped that now, and we're seeing some growth now. Discovery might have had. 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