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. 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. . Such a move has been expected for quite some time, given Warner Bros. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. That's what we're looking to primarily deliver. 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. 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. 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 Ben, on the D2C question, let me start with the revenue side of it. DC Comics. Again, creating shows that people want to watch. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. And we've got a time-tested approach to cross promotion, and we're adjusting that right now to the larger portfolio and the larger number of assets that we're promoting. 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. We continue to expect to convert 1/3 to half of EBITDA into free cash flow, as I stated earlier, with the key determinants and drivers of growth being the magnitude of EBITDA, net cash content spend, the impact of working capital initiatives, and the timing and magnitude of a trend change in the advertising market. And then on the affiliate side, renewing 30% of your affiliate deals. 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. Our next question comes from Michael Morris with Guggenheim Partners. Discovery to Merge Streaming Services James Gunn, and Peter Safran were Appointed to Be Executives of DC Studios 'Stranger Things' Caleb McLaughlin Says He Wants to Place 'Static Shock' Margot Robbie on Lady Gaga Cast to Play Harley Quinn in 'Joker 2' These shows have averaged as many as 20 million viewers in episode with strong week-over-week growth. 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. Though we are assuming that things will get better in the second half. The Last Of Us, for example, grew its Sunday premier night viewership by about 1 million with each episode over the first 4 weeks. And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. The casting of their teenage incarnations as well as those of Newt and Leta will be sure to intrigue Harry Potter fans, and drive further speculation about the next films story. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. So a lot to be looking forward to. So I think this is an exciting time because I think we're really -- we made some tough decisions. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. The gaming business is all consumer product driven. 4 talking about this. To participate in the Warner Bros. Partially offsetting revenue headwinds were lower content expenses, distribution fees and marketing costs. 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. These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. [Operator Instructions] Additionally, please be advised that today's conference call is being recorded. Sure. 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. 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. That's not the point. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. And why should we need to monetize that in order to drive shareholder value. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. And so -- which -- where we pivoted and said we were going pushing to move all of our films back out with real windows in order to optimize those products. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. 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. They are also looking for actors between 16 and 18 to portray both Gellert Grindelwald and Albus Dumbledore as teenagers. Warner Bros. is a global leader in all forms of entertainment, from movie and TV screens to mobile devices, store shelves and beyond. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . And we've lapped that now, and we're seeing some growth now. Those shows had a supersized effect on people and culture. Last year was a year of restructuring. We can put that down on our AVOD service. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. But I also think we're very well positioned to grow from here. 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 must get it right. Reportedly Cancels 'Wonder Woman 3' Warner Bros. 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. 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? However, we remain very enthused about the trend line here, and I have greater and greater confidence in our ability to achieve our long-term segment targets of breakeven in the U.S. in 2024 and $1 billion of profitability in 2025 globally. The dreaded post-merger Warner Bros Discovery layoffs have reached the programming operation overseen by HBO and HBO Max Chief Content Officer Casey Bloys. Oh, on FAST. 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. On the news side, we are fighting hard and making real progress. Open casting calls are something of a tradition in the Wizarding World. Warner Bros. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA In addition to less activity in home entertainment, given the leaner theatrical release schedule in 2022, which was very much a result of deliberate decisions we made about specific titles and overall release dates. Interestingly, the actor cast as the titular character, Austin Butler, isn't the most well known, and audiences will probably know him best as the Manson family member Tex Watson in Once Upon A Time In Hollywood . 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. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Yes. Interested in future casting calls or joining our casting division? Keep one thing in mind, the entire last year was impacted by this headwind from coming off of Amazon. 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! The advertising environment in the U.S. remains very . Nov 3, 2022 2:02pm PT Warner Bros. 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. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . We've been hard at work since our last call and look forward to updating you on our progress. 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. And then obviously, with the new product, we just look at some of the features that we're going to be rolling out and some of the improved and enhancements from a performance standpoint in the product at a much higher engagement, which will help both our ad-lite monetization, including, as David mentioned earlier, the fact that we're now putting ads and all the content on HBO Max as opposed to just some of the content on HBO Max, all those will be part of the revenue drivers in addition to obviously having the rights like we talked about before, for all of our sports in the U.S. and news content eventually that could also help us drive further scale and pricing in the years ahead. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. In every country, they'll leave dinner and they got to go home to view that product that they love. Discovery Second Quarter 2022 Earnings Call. Discovery, for canceling "Batgirl . is looking for PAID EXTRAS for a new series on THE CW based on DC Comics series "NAOMI" that will be filming here in Atlanta, GA. #inclusion #performerswithdisabilities #Disabilityawareness 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. We have a great hand and we're doing a lot right. And once we establish this funnel, then we can take things like the first season of succession or the second season. 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. No previous acting experience is necessary, but applicants need to be eligible to work in the UK (meaning they must be a UK, Irish or EU passport holder), and be available for filming between August and November 2017. And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. This information is only for educational purposes use. filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID Well, look, we were laser-focused on building this DC 10-year plan. An important reference point for the value of our combined portfolio of networks to our distribution partners. from casting calls to the lure of the red-carpet award season. 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. 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. Casting Calls Georgia On Location Casting ATLANTA BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - June 23, 2022 856 0 Advertisements On Location Casting ATLANTA BACKGROUND Casting Notice **LINK TO SUBMIT! I'm just wondering if you can talk about some of these assumptions. 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. No, I was just going to say that as David has said before, I think the industry obviously was at a scale at any cost. And I think I just only add go ahead. The sentiment is not terrific. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. And so we were able, in many ways, to Monday morning quarterback. 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? David, maybe just to sort of wrap up that on the content side. It's about telling the best story. Sep 2, 2021 Seeking young performers for Nickelodeon's nationwide (US and Canada) Performers with Disabilities Open Call! Warner Bros. How to Get Cast On How to Get Cast in a DC Comics Movie or TV Show This guide will answer your most pressing questions. She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. 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. In all that we do, we are guided by three strategic pillars. The Voice, the #1 most watched unscripted show on network TV. We're assuming that. Does that include any potential asset sales like nonstrategic asset sales? 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. It's about the sustainability and the longevity the free cash flow being delivered by that segment. 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. Don't forget the 12+ hour blocks of five year old movies every weekend. There's loads of content out there. Turning to consolidated results and free cash flow. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. 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. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . 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. Required fields are marked *, Warner Bros.-Seven Arts, Inc.(19671970), Toby Emmerich(Chairman, Warner Bros. Pictures Group), Walter Hamada(President, DC-based Film Production), studiofacilities.warnerbros.com/studio-operations-inquiry-form/. A replay of the call will be available approximately two hours after the completion of the call until August 11, 2022. Moreover, the exit rate coming out of the fourth quarter lends confidence in continued very strong financial performance thus far in Q1 and into our soon-to-be relaunched D2C offering. 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. And we take advantage of all the content that we have. 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. Warner Bros. The 50 Best Movies of 2022, According to 165 Critics from . 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. 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. 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. The sequel to Fantastic Beasts and Where to Find Them is slated for release 16 November 2018, and filming begins this summer. 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. The studio is the flagship producer of live-action feature films within 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. But I always would err toward price, because I think that's where you really build asset value. The creative co-lead and co-chairman of DC Studios have confirmed the entertainment studio is separate from Warner Bros. Pictures Group As per CBR via the social news aggregate website, Reddit . Yes. 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. Discovery. 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. Christian Zilko 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. 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. We've rightsized the content investments. TM & WBEI. We're excited about the upcoming launch of the [ENHANZE] product and look forward to sharing more details at a press event on April 12. Two questions. 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. And so we want to optimize that as a unified strategy for the company. 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. The long-term earnings and free cash flow generation potential of this company are stronger than ever, particularly after having taken some courageous and crucial first steps this past year. You have so many hidden assets within the company. 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. On the advertising side, it's kind of a complex answer. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. That is exactly what we see happening at HBO. And one of the tenets is we're not going to launch any content before it's time. It gives a huge advantage with those tent poles. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. T forget the 12+ hour blocks of five year old movies every weekend are laser-focused on transformation... 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