And we take that across film, TV and even to sell to third parties, because we have something, we have a treasury that no one else has. And then we have the ability to pick from all of these different baskets to build really what may be most important for us, which is a successful and profitable streaming business. This is one team now. And the response from consumers has been overwhelmingly positive. Do your homework, find out if the casting call is legit, find out who the casting director is for the show or movie and make sure everything matches up. Presentation. Is this happening to you frequently? We also made a decision in the upfront to drive price rather than extra volume. MACON RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA By Kevin P. King - April 7, 2022 487 0 Advertisements On Location Casting *RUSH CALL* - TODAY! Cast: Dwayne Johnson, Keanu Reeves, Joh Krasinski, Kate McKinnon, Natasha Lyonne, Kevin Hart, Diego Luna, Jameela Jamil, Vanessa Bayer, Marc Maron About: Krypto the Super-Dog (Johnson) and Superman (Krasinski) are inseparable best friends, sharing the same superpowers and fighting crime in Metropolis side by side. 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. It's just too early to really call a trend change here. 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. We'll definitely -- we're definitely planning for revenue improvement. 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. Here through this post, we are also providing complete necessary details about the Warner Bros Pictures Casting Directors Dates Roles. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. Thanks, Ben. Games & Home entertainment faced difficult year-over-year comps as well due to last year's COVID-induced tailwind for library content. Naturally, and as I have said before, not all of these initiatives will come to fruition or get realized to the full extent, but this represents a significant pipeline for us as components of both near-term cost out and longer-term continuous improvement. Gunnar will take you through all of the financials in our outlook, but I'm very pleased that we see our net leverage clearly below 4x by the end of this year, below 4x by the end of this year. Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. 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. Clearly, you still have some macro challenges, but what could go right? It's not about getting it out for a certain date. And then on the cost side, all of the trends are pointing in the right direction. With respect to the cadence of free cash flow, as is historically the case for both legacy Discovery and WarnerMedia, Q1 free cash flow will represent the low point for the year given the timing of sports rights payments, timing of content outlays and cash interest payments on a large portion of the acquisition debt. And the newest hits, Night Court on NBC and Shrinking on Apple TV. You have so many hidden assets within the company. We are more confident than ever that we have the right strategy to be successful and ultimately achieve our goal of being the greatest media and entertainment company in the world. And that isn't critical to or helpful to churn. And now we're -- this year, you're going to see us fighting on DC. I'd like to ask about advertising trends you're seeing and maybe kind of advance this discussion a bit more. 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. ET Follow HBO Max Go to Site Follow HBO Go to Site Follow Warner Bros. Go to Site Follow HGTV Go to Site Follow Discovery Go to Site Follow discovery+ Go to Site Follow CNN Go to Site Follow TBS Go to Site Follow Food Network Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. 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. 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. During the fourth quarter of 2022, Warner Bros. 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. 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. Join the Fan Club and bring your traits with you. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. 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 so we're feeling more and more confident about that. Discovery ( WBD) CEO David Zaslav promised 2023 will be WBD's year after the media giant reported fourth quarter earnings results that missed across the board on Thursday. In recent weeks, we signed new deals with a number of the most prolific and celebrated creatives in the industry, including Greg Berlanti, Baz Luhrmann, M. Night Shyamalan, Akiva Goldsman and Zach Cregger with more to come. We've been hard at work since our last call and look forward to updating you on our progress. If all else fails, take your mother's advice - if it seems too good to be true, it probably is. And together, we are focused on making our businesses better and stronger. This information is only for educational purposes use. 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. The industry was in a quantity of content over quality, we believe, in a quality over quantity and therefore, spend-wise, spend needs to get rationalized. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. The other point that is front or set up for us is curation. 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. So that is having some impact on us versus others that were -- that took a much bigger position in the upfront. Let me start with the second question. We have a great hand and we're doing a lot right. And we're seeing some real opportunity here. It gives a huge advantage with those tent poles. 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? . More on this from Gunnar in a minute, but I'm pleased with the trend line we see in Q1, particularly as we are managing towards close to breakeven segment EBITDA in the quarter. Global core subscribers increased 1.1 million sequentially and 10 million year-on-year, while global ARPU increased as well modestly to $7.58. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. But the digital inventory, which really held up in the fourth quarter has also softened. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . I have one for David and then one for J.B. or Gunnar. We've already seen more than $850 million in retail sales, and we still have more platforms launching over the next few months. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . 2023 will be a year of building and off we go. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. As expected, performance was negatively impacted by lower TV licensing revenues against a very tough comp last year, something well face again in the first quarter of 2023. It's working. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. Reportedly Cancels 'Wonder Woman 3' Warner Bros. 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. Let me start with the second. Our strategy is no sub left behind. Naturally, our domestic relaunch of the combined product offering in the spring will result in a sequential step-up in P&L investments in Q2 behind a requisite increase in marketing spend support and premier content launches. First, let me say, this promises to be a very exciting year for our company. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. In today's increasingly dynamic and a crowded media environment, the best hand has great storytelling IP, brilliant creatives, a full slate of production and distribution capabilities, and broad global reach that stretches across premium, pay TV, free-to-air, theatrical, streaming, licensing and gaming, the entirety of the ecosystem, and that is exactly the hand that we have, and we intend to play it decisively and with a focus on free cash flow and an eye towards sustainable future growth. 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. Christian Zilko And it all stems from great storytelling. DC Comics. And after just 5 weeks, an astounding 35 million people have watched episode 1. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. 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. The best way to drive interest and engagement is not by dropping the entire season on a platform all at once, but by allowing the buzz and anticipation to build over time. Warner Bros. We were able to put that to work behind some of cases launches, behind some of our film launches. They want -- they want to have an opportunity for their content to be seen, to be talked about, and they want to feel respected. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. Discovery is a storytelling company and we are very fortunate to have a huge share of the most beloved and globally recognized storytelling IP in the world, including Harry Potter, Game of Thrones, Superman, Batman, Lord of the Rings, and we intend to take full advantage of these one-of-a-kind franchises across our various platforms. We have an unusual situation. The Hogwarts game, we took several additional months to rework it, to get it right. 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. 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. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. 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. 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. A replay of the call will be available approximately two hours after the completion of the call until August 11, 2022. We've accomplished a significant amount in 2022, and I'd like to take this opportunity to thank the entire finance team for their persistence and resolve in working through these very difficult but necessary first steps, which has resulted in greater command, control and precision across the enterprise and laid the foundation on which we are positioning the company. These shows have averaged as many as 20 million viewers in episode with strong week-over-week growth. The studio is the flagship producer of live-action feature films within Warner Bros. Discovery and sort of the earnings power of the organization? 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. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. But we -- I believe that we have an overwhelming advantage in the marketplace with the IP that we own, but to take -- to get that advantage, we have to create great content with that IP. And as we look to 2023, my near-term key financial priorities remain: number one, delivering against our synergy and transformation targets where we are managing towards an incremental $2 billion of cost capture in 2023 and the larger opportunity I mentioned previously. Is there -- what are you considering? I am proud of what we achieved in 2022 against the targets we set out in the summer and against an increasingly challenging environment in the second half of the year, and I'm proud of the momentum we have built exiting the year. Hello, everyone, and thank you for joining us. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. We work, grow and create world class content in one of the biggest, busiest studio lots in the industry, as well as at countless studios, sets and offices around the globe. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. 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. 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. Today, I'm thrilled to announce that Mike and Pam signed a deal to make multiple Lord of the Rings movies. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. Warner Bros. David, maybe just to sort of wrap up that on the content side. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. 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. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. Thank you, David. Webcast. 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? And we are still in the early stages of bringing this comprehensive portfolio together and harnessing all that it can deliver. There are some opportunities that I'm looking at below deck as we say, but none of that would be baked into this leverage guidance. 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. Netflix Reality Series Audition 2023 Casting Calls. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. Such a move has been expected for quite some time, given Warner Bros. WBD 15.42 +0.67 Warner Bros. Discovery Second Quarter 2022 Earnings 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. I'm especially happy about the development in our D2C segment, where we delivered a marked improvement across a number of key operational KPIs leading to a healthy sequential improvement to financial performance. And HBO is streaming's new must-see TV with all of its cultural impact and excitement. Warner Bros. Discovery experienced a staggering USD 2.1 billion financial setback. So there was 60% that was hardly being viewed. The film is set decades before Harry Potters adventures at Hogwarts, and marks an increasingly dark time for the wizarding world. Aug 9, 2022, 8:40 AM. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. Operator. 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. We must get it right. Discovery, ensuring it will remain as the exclusive Australian home of HBO, Max Originals, Warner Bros. and Discovery programming. We see better engagement, better churn, which makes marketing efficiencies come up. Today, with direct-to-consumer, more and more people are joining the party. Can you talk a little bit about the revenue outlook for D2C? In answering that question, you reiterated something you'd said before, which was an intent to fold the Discovery content into the new product. Discovery. Warner Bros. We've heard the word curated. I mean, pot levels in the industry, I think, were down 14% in the quarter. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. Warner Bros. Open casting calls are something of a tradition in the Wizarding World. And we hit this year with a full leadership team in place. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. We said starting last August, we believe in profitable scale. 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 will always be a little lower maybe than sort of a pure-play D2C product just because of the HBO linear trends that are baked into our revenue number. It's working. It's working. And so selling that to drive free cash flow and to nourish the overall segment, so that we, as a media segment, can be successful is important. You probably know that, because we've kept the lights on at TBS for the last five years.". First for David, as part of the upcoming D2C relaunch, can you just talk a little bit about how you plan to balance protecting the HBO brand while at the same time, leaning on the HBO premium content to help drive the new service going forward? Turning to the total company EBITDA outlook. Our next question SP1 Comes from Robert Fishman with SVB MoffettNathanson. The Roku and the Tubi deal was really just a toe in the water, if you will, 14 channels, a beginning for us, but there'll be more to come as we go through the year, and we do want to have a bigger presence in that space because we do see consumer behavior continuing to shift and having a very robust amount of consumers around the world, who will want to consume ad-supported content. Discovery Is America's Worst-Run Company,Mismanagement has ruined whatever success Warner Bros. It comes after HBO and HBO. We've rightsized the content investments. And to that point, I have no doubt that we have years and years of that coming our way. Some are advertiser-driven. Discovery's Q4 Earnings Call. Our next question comes from Brett Feldman with Goldman Sachs. Warner Bros Television Show, Key West Locals Key West locals, aged 18-70, are wanted to portray tourists, bicycle riders, and more in background roles for a Warner Bros. television project.. Starting with the Studio segment. 3 min read. 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. Use the form below to submit your basics and we'll reach out to you when the next big film casts! Our next question comes from Michael Morris with Guggenheim Partners. Kathleen is doing a lot of work, getting the enormous value of our library on screen. Does that include any potential asset sales like nonstrategic asset sales? But as David said, we've got sports and news that today are really untapped in the streaming world, and those are optionality for what we might be willing to do in the future, and we'll share more of that on the 12th with you with more detail. You do not need to submit this form if you've already submitted to any casting. - David Spade, 'Nothing Personal' 2022. 4 talking about this. And that is the culture here at Warner Bros. And my second question is about this pending relaunch MAX product. 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. 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. And we're able to align our networks on a coterminous basis with these distributors. Thank Sure. This company every year give up the chance for new talents. And so we were able, in many ways, to Monday morning quarterback. You may now disconnect. And I think there was a lot left on the table. 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. International markets continue to perform relatively better, stronger markets such as Poland and Italy were in part offset by weaknesses in the UK, Nordics and certain Latin American countries. And then there was a lot of content that just wasn't being viewed. 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. Our final question comes from John Hodulik with UBS. We see churn as a third important variable that historically has been relatively higher on the HBO Max product that with the two products coming together, that ultimately coming down is important. During the WBD quarterly earnings call, Zaslav . More Earnings Resources from MarketBeat Earnings Tools: Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance Discovery advantage. 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. Bros. 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