There's been an increasing discussion recently about what the right general entertainment content strategy supposed to be for media companies as your models continue to pivot and become more streaming-centric. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. So a lot to be looking forward to. 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. Today, with direct-to-consumer, more and more people are joining the party. 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. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. 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. 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. 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. Please disable your ad-blocker and refresh. 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. 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. We can take you into the theater around the world. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. 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. The sentiment is not terrific. Discovery in April last year. We have an unusual situation. This company every year give up the chance for new talents. 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. Warner Bros. 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. And Lord of the Rings, which is a fantastic franchise, Andy Jassy was pushing on it at Amazon with a lot of success, but we own those movie rights. 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. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. Obviously, successful films will help your Studio segment earnings. 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? We must get it right. 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 Maybe help us think about the levers you have and your expectations around top line over the next few years? Our final question comes from John Hodulik with UBS. Table of Contents [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. 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. 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. They are also looking for actors between 16 and 18 to portray both Gellert Grindelwald and Albus Dumbledore as teenagers. And so effectively, whether you want to look at content for free, you want to look at with edge, you want to look at you want a premium that we -- you would have all that opportunity with us, and it makes sense because we have the largest TV and motion picture library in the world. Newt Scamanders relationships and past remain enigmatic, so any glimpse into his formative years will be huge for the character. Discovery CEO David Zaslav said the retooling of CNN 'isn't going to happen overnight.'. In the end, there was public backlash over his casting, but not because of his . Two questions. 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. And there are times when our share is significantly higher with marquee events, such as March Madness and the MLB and NBA playoffs. Discovery. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. It reminds me of my time at NBC when Thursday Night was must-see TV. 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. That's not the point. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. 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 . And so we are a storytelling company. This phenomenon can go for eight, 10-plus weeks for each series. 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? Please. 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. Disclaimer: Audition free of cost for more information visit the respective official site. And after just 5 weeks, an astounding 35 million people have watched episode 1. And most importantly, we saw improvement across key KPIs. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. We haven't done new Harry Potter content in over a decade. Starting with the Studio segment. "I was in the movie 'Grown Ups'. 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. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. 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. On the advertising side, it's kind of a complex answer. Use the form below to submit your basics and we'll reach out to you when the next big film casts! During the WBD quarterly earnings call, Zaslav . 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. 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. Warner Bros. is a global leader in all forms of entertainment, from movie and TV screens to mobile devices, store shelves and beyond. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. We brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. Our strategy is no sub left behind. 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. 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 with that, I am pleased to turn the call over to David. 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. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. 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. 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 now we're -- this year, you're going to see us fighting on DC. And I think I just only add go ahead. 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. The biggest unknown continues to be in the ad sales environment. And back then, you had to watch the show on Thursday night. 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. 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. Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. The other point that is front or set up for us is curation. J.B., anything to add to that? We see better engagement, better churn, which makes marketing efficiencies come up. So we have a best -- we have all this work that we've done to build this platform will be taken, so that to the benefit of all of our subscribers on all of our different products. And HBO is streaming's new must-see TV with all of its cultural impact and excitement. Our next question comes from Kutgun Maral with RBC Capital Markets. I have one for David and then one for J.B. or Gunnar. Warner Bros. 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 . So again, as I said, a similar picture with more diversity. 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. 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. #inclusion #performerswithdisabilities #Disabilityawareness 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. There hasn't been a stand-alone Superman movie in a decade. You do not need to submit this form if you've already submitted to any casting. The studio is the flagship producer of live-action feature films within Warner Bros. Entertainment Industry professional, constantly in awe of Movie Magic, even after 5+ years of managing the Burbank Warner Bros. Yes, that's one important ingredient. 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. 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. Warner Bros. And so you put the Discovery+ and HBO Max proposition together at a great value, and we think we deliver something that ultimately has something for everybody in the household, which will help us on scale and help us on churn, which are the two major ingredients we're focused on as well as obviously engagement. We haven't done a Superman movie in 10 years. Well, look, we were laser-focused on building this DC 10-year plan. So we do see subscriber scale as one part of the revenue growth story. Here through this post, we are also providing complete necessary details about the Warner Bros Pictures Casting Directors Dates Roles. Yes. I mean, pot levels in the industry, I think, were down 14% in the quarter. That's the power of curation. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. And we're seeing some real opportunity here. Warner Bros. So I think that I'm hyper-focused on this, meeting once a week with the team, but getting our stride as a new working team, and I feel like we're starting to get some momentum on that. 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. So we're excited about the fact that we're going to take all of the Discovery content and put it together with the HBO Max content in a much better platform. Really trying to understand how much of the ad impact that you're seeing is kind of coming from the macro environment? And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. And I think that diversity is strength. And then we ourselves will run our own fast service. We've been hard at work since our last call and look forward to updating you on our progress. 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. And we continue to track above our internal plans. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. Based on the traction we are seeing across the broad spectrum of operational and financial KPIs, we expect segment EBITDA to be more or less breakeven in Q1, which implies another $500 million improvement year-over-year, roughly in line with the improvement seen in Q4. No question about that. And regarding the linear affiliate renewals, as we've said a couple of times that we're very happy with how those discussions went, is a clear testament to the importance and the value that our network portfolio is delivering to our affiliates. The gaming business is all consumer product driven. And later down the road, we're also obviously going to start looking at new market launches, again. We're also excited for the release of 4 DC films this year, starting with Shazam in 2 weeks and followed by The Flash, which James Gunn called 1 of the greatest superhero movies ever made, a masterpiece. The Warner Bros. Television Workshop is the premier program for new writers and. 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. 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. Keep one thing in mind, the entire last year was impacted by this headwind from coming off of Amazon. 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. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. Is there -- what are you considering? Though we are assuming that things will get better in the second half. But I always would err toward price, because I think that's where you really build asset value. With me today is David Zaslav, President and CEO; Gunnar Wiedenfels, our CFO; and JB Perrette, CEO and President, Global Streaming and Games. The poor actors and directors of the . Warner Bros. International, some areas actually trending up now, others still difficult. Looking for Pottermore? We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. 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. One of them is off to a very good start. Interested in future casting calls or joining our casting division? These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. We've gone through a couple of the puts and takes here. In all that we do, we are guided by three strategic pillars. 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. She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. 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. 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. It's working. The film is set decades before Harry Potters adventures at Hogwarts, and marks an increasingly dark time for the wizarding world. Participants must have the right to work in the United States or Canada. And we're able to align our networks on a coterminous basis with these distributors. It's a wow. 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! For those that are happy paying $5 or $7 and having home, food, Discovery and own type content. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. Is there any of your content that's definitely off the table to be included in that service? 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. We are not conducting any type of audition. Through the end of 2022, we've already realized over $1 billion of synergy, inclusive of a couple of hundred million dollars of course-corrective measures that we undertook early after launching Warner Bros. And it is shared -- the platform itself for Discovery+ will be a shared platform. filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID 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. The 50 Best Movies of 2022, According to 165 Critics from . Discovery's Q4 Earnings Call. And that is what all great talent wants. The Hogwarts game, we took several additional months to rework it, to get it right. It comes after HBO and HBO. And it all stems from great storytelling. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. On the news side, we are fighting hard and making real progress. 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. Only add go ahead Elvis, a similar picture with more diversity because. 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