And I'm very, very glad that we put out some targets in the summer of last year, and we were able to hit those targets. That HBO Max, whatever we call it on the launch, is a product that we take around the world and that has a real impact on how people consume content. I can't wait for The Flash to hit the theaters in June. And at the end of the day, the consumer is at a point in time where they want more choice and better breadth of choice from fewer services, because they just don't have either share of wallet to be able to spending on five, six, seven services anymore. View this post on Instagram 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. David, if James and his DC strategy is successful, which I'm sure is your expectation, what does that mean for the company overall over the long term? And so we're going to be -- Casey is the best example of that. 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. 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. The sequential improvement in Q4 free cash flow versus Q3 was the result of greater EBITDA, the timing of interest payments on acquisition debt and some first improvements from working capital initiatives. Is this happening to you frequently? CAB Castings, LLC. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. 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 are looking for: single women and men between the ages of 23-35," the official Warner Bros casting call reads. Today, with direct-to-consumer, more and more people are joining the party. 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. But in addition, we want to run this company to drive free cash flow and the ability to monetize a lot of the content that isn't critical to subscriber growth. But that said, there's always going to be a place for quality content and we're open for business. Operator. China calls for Russia-Ukraine cease-fire, . Nowhere is this more important in my view, and it isn't going to happen overnight, and I believe we are on the right path. 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. They want -- they want to have an opportunity for their content to be seen, to be talked about, and they want to feel respected. 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. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. We got some of the best creatives in the industry right now focused on those swings. And it is shared -- the platform itself for Discovery+ will be a shared platform. 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. We brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. I mean just how should we think of sort of pricing and how should that translate into sort of results as we look out to '23? And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. The 99-year-old movie studio, home to Harry Potter, Batman and Bugs Bunny, will now head in a. The advertising environment in the U.S. remains very . 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. Discovery in which we took some pivotal initial steps. On FAST, look, the strategy is, I think, back to some of the questions earlier, at the end of the day, one of the advantages we feel like we have is the question keeps coming up about windowing. BURBANK, Calif. Due to the unprecedented global pandemic caused by the novel Coronavirus, Warner Bros. Television's Casting department launched a unique virtual "Actors in Training" initiative this summer designed to connect the Studio with emerging actors who may have had their final year of dramatic training curtailed or negatively impacted I'll talk more about that in a minute. 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. The Hogwarts game, we took several additional months to rework it, to get it right. Discovery's Q4 Earnings Call. Warner Bros. [Operator Instructions] Additionally, please be advised that today's conference call is being recorded. We have an exceptional leadership team that is truly aligned across a common set of strategic, operational and financial goals and metrics. Participants must have the right to work in the United States or Canada. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. CASTING SUBMISSION - Actors & Extras Having said that, as we face this next upfront, which is coming up in two months, I think the breadth of our content together with where we go in on price, positions us very well. Well, look, we were laser-focused on building this DC 10-year plan. Thank you, David. And my second question is about this pending relaunch MAX product. 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. Her Barbie looks like a version of Robbie's Sharon Tate, or. August 15, 2022 10:20am. 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. Despite the full integration of Warner Bros. I remain very optimistic about the range of potential outcomes in 2023 and beyond. The television studio is the latest arm of Warner Bros Discovery forced to make cuts in order to save at least $3 billion after the merger overseen by David Zaslav. This company every year give up the chance for new talents. 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. 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. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. The decisions we've made and the strategies we've set in motion 10 months ago have created a solid foundation and we're starting to see strong momentum. In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. CNN stands as a premier global news organization, and we wanted to be the place for fact-based reporting and thoughtful discourse that is broader than politics and sport. 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. That's what led us to the conclusion that direct to streaming movies were providing really no value to us. Yes. They are also looking for actors between 16 and 18 to portray both Gellert Grindelwald and Albus Dumbledore as teenagers. Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . A few weeks ago, James and Peter rolled out Phase I of their highly anticipated multiyear plan for DC Studios across film, television and animation with 5 films and 5 television series already in the works, the new era for DC under a single creative vision is in full swing, and we are especially eager to thrill fans with new Superman and Batman movies in 2025. And I think there was a lot left on the table. Two questions. Netflix Reality Series Audition 2023 Casting Calls. And with that, I am pleased to turn the call over to David. For us, 2023 is a year of building. And so we want to optimize that as a unified strategy for the company. Yes. During the WBD quarterly earnings call, Zaslav . 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. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . (Photo by Santiago Felipe/Getty Images) Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. The 50 Best Movies of 2022, According to 165 Critics from . We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. 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. Thanks, Ben. Consistent with what we told you last August, we are getting ready to launch our combined streaming service here in the U.S. in a few months with Latin America to follow later this year and markets in EMEA and APAC in '24. 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. And I believe in that, having been in this business for 30 years, I think in order to really drive asset value, you need to drive price. And I think that diversity is strength. 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. We do see the weekly bookings right now ticking up slightly if you compare January and February with maybe the November, December timeframe, looking a little better; retail, fast food, entertainment, a little better; telecom, small, but coming back; but then you've got other areas like technology is still completely depressed. And then on the affiliate side, renewing 30% of your affiliate deals. And so we're feeling more and more confident about that. But the digital inventory, which really held up in the fourth quarter has also softened. These shows have averaged as many as 20 million viewers in episode with strong week-over-week growth. 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. It's working. Is there -- what are you considering? Yes. And we have high hopes for all of these metrics after the combined product launches to further improve. And we are still in the early stages of bringing this comprehensive portfolio together and harnessing all that it can deliver. Discovery advantage. And we take advantage of all the content that we have. And getting ready for our new launch. TM & WBEI. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. 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. - David Spade, 'Nothing Personal' 2022. 4 talking about this. Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. 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. You do not need to submit this form if you've already submitted to any casting. And we're able to align our networks on a coterminous basis with these distributors. Keep one thing in mind, the entire last year was impacted by this headwind from coming off of Amazon. 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. We took bold decisive action over the last 10 months and the bulk of our restructuring is behind us. Marvel's Guardians will star alongside Chris Hemsworth (Thor), Natalie Portman (Jane Foster/Mighty Thor), Tessa Thompson (Valkyrie), and Christian Bale (Gorr the God Butcher), among other new and. As you look out to '23, I think Gunnar kind of touched on some of the potential tailwinds, but it sounds like you're walking away from close to $12 billion in EBITDA to maybe low to mid-$11 billion in EBITDA. The biggest unknown continues to be in the ad sales environment. On the 12th, we'll lay out to you, we have a clear attack plan, where we'll drive this really across the country and into markets around the world with conviction. And so we'll keep in mind this balance of volume versus price. Discovery, ensuring it will remain as the exclusive Australian home of HBO, Max Originals, Warner Bros. and Discovery programming. We see price as a very important second part. The sequel to Fantastic Beasts and Where to Find Them is slated for release 16 November 2018, and filming begins this summer. 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. Our next question comes from Brett Feldman with Goldman Sachs. Those shows had a supersized effect on people and culture. 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? If you could share your view on those two impacts, that would be very helpful. Batman Day - September 17, 2022. Again, creating shows that people want to watch. And we're seeing some real opportunity here. Number four, driving overall efficiency and free cash flow conversion towards our near-term goal of 1/3 to 1/2 conversion of adjusted EBITDA with longer-term upside towards our 60% goal. 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.. 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 the newest hits, Night Court on NBC and Shrinking on Apple TV. December 13, 2021. At Warner Bros. Aug 9, 2022, 8:40 AM. Warner Bros. Discovery's earnings are expected to grow from $0.97 per share to $1.79 per share in the next year, which is a 84.54% increase. Discovery might have had. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. 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