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. And where does the WBD fit in that? 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. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. We can take you into the theater around the world. Faith Wood-Blagrove beat thousands of other young actresses to the role of Modesty in Fantastic Beasts, and Evanna Lynch was chosen for the part of Luna Lovegood out of 15,000 other young women following open casting in 2006. For us, 2023 is a year of building. 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. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . So those candidates who are interested must have checked the companys full details. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . But just as you think about the impact of DC sort of fully realizing the opportunity over the next 5-plus years, what could that mean to Warner Bros. 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. 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. 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.. It's just too early to really call a trend change here. We do expect the cash cost to achieve synergy and transformation efforts will be around the higher end of our $1 billion to $1.5 billion guide given the expanded synergy target, some of which possibly hitting in 2024. Passionate about supporting Creatives to develop, produce . 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. Join the Fan Club and bring your traits with you. The studio is the flagship producer of live-action feature films within Warner Bros. We've rightsized the content investments. 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. So I think this is an exciting time because I think we're really -- we made some tough decisions. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. [Operator Instructions] Additionally, please be advised that today's conference call is being recorded. Is there any of your content that's definitely off the table to be included in that service? Despite the full integration of Warner Bros. 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. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. CASTING SUBMISSION - Actors & Extras Batman Day - September 17, 2022. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. https://forms.gle/pSmy15EJENw7foXi9 Advertisements Warner Bros. Discovery and sort of the earnings power of the organization? Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. And in fact, we're -- we use news and sports quite effectively in Europe, and we've learned a lot about when it does work and when it doesn't. Of course, the other stipulations include being "willing and available" to film for the duration of the series which could be as long as 12 weeks and will commence around mid-June to mid-August of 2021. And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. And having all those distribution outlets gives us the optionality to look at what the data shows us and see where we need to lean in further or not. The other point that is front or set up for us is curation. 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. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. Reportedly Cancels 'Wonder Woman 3' Warner Bros. Warner Bros. 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. Elvis is a 2022 biographical drama film directed by Baz Luhrmann and written by Luhrmann, Sam Bromell, Craig Pearce, and Jeremy Doner.It follows the life of the American rock and roll singer and actor Elvis Presley, told from the perspective of his manager, Colonel Tom Parker.It stars Austin Butler as Presley with Tom Hanks as Parker, while Olivia DeJonge, Helen Thomson, Richard Roxburgh . Some are advertiser-driven. This company every year give up the chance for new talents. 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? 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 Distribution revenues on the whole were impacted primarily by subscriber declines in the U.S. and lower affiliate rates in certain European countries, while larger contractual rate increases in the U.S. and premium sports packages in Latin America helped to offset part of this impact. 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. But that said, there's always going to be a place for quality content and we're open for business. 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. Warner Bros Casting Calls are the most useful tools for those who are feeling capable that they can make an immediate impact on their acting careers, but aren't well-enough known to get invited to usual castings. And after just 5 weeks, an astounding 35 million people have watched episode 1. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. Photo: Kevin Dietsch/Getty Images. 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. 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. Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. 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. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. And then there was a lot of content that just wasn't being viewed. On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - March 10, 2022 684 0 Advertisements On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice Advertisements Warner Bros. Nov 3, 2022 2:02pm PT Warner Bros. It's significantly better outside the U.S. right now, which is a surprise. We haven't done a Superman movie in 10 years. The 50 Best Movies of 2022, According to 165 Critics from . So there was 60% that was hardly being viewed. The dreaded post-merger Warner Bros Discovery layoffs have reached the programming operation overseen by HBO and HBO Max Chief Content Officer Casey Bloys. Channing is the best example of that. We've already seen more than $850 million in retail sales, and we still have more platforms launching over the next few months. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. Accordingly, we expect free cash flow in the first quarter to be negative. The fourth quarter marked the end of a first and very defining chapter for Warner Bros. And then we ourselves will run our own fast service. Turning to consolidated results and free cash flow. 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. We're going to be releasing 12 films, 6 games. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. Stay tuned for more to come on this front. One of them is off to a very good start. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. 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. Content alone is really only half of the equation. 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/. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. 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. Every week, a new episode comes out and by the time the next one airs a week later, tens of millions of people have watched the last episode. In all that we do, we are guided by three strategic pillars. It reminds me of my time at NBC when Thursday Night was must-see TV. Appreciate all the information you just shared. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. 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. Discovery advantage. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. 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? 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. And that is what all great talent wants. And together, we are focused on making our businesses better and stronger. And I think our diversity, we have all these different assets that have -- that are different. Discovery Is America's Worst-Run Company,Mismanagement has ruined whatever success Warner Bros. Can you talk a little bit about the revenue outlook for D2C? We can put that down on our AVOD service. We believe strongly in the importance of the motion picture window and having that shared experience with other people. We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. 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 Interested in future casting calls or joining our casting division? 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 continue to track above our internal plans. Is that something you're able to comment on now? This company is found in the years 1923. I remain very optimistic about the range of potential outcomes in 2023 and beyond. We got to take those swings. 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. 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. Last year was a year of restructuring. This is one team now. Does that include any potential asset sales like nonstrategic asset sales? We've heard the word curated. 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. I saw it and loved it. In the end, there was public backlash over his casting, but not because of his . August 15, 2022 10:20am. 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're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. 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. The product will offer compelling content for every member of the household. 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. You also hear a bigger discussion around how you decide when something should be exclusive to your platforms and when maybe you should be licensing. On the news side, we are fighting hard and making real progress. Is there -- what are you considering? And we have high hopes for all of these metrics after the combined product launches to further improve. With that, I'll turn it over to Gunnar, and he'll walk you through the financials for the quarter. 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? But -- and I know it's a tough question to put numbers around. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. 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. And then on the cost side, all of the trends are pointing in the right direction. We've gone through a couple of the puts and takes here. 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. #inclusion #performerswithdisabilities #Disabilityawareness And we're doing it in a very tasteful way by putting it on the very front end. But curation, creating content at a time when people can watch it, creating a community conversation. He presented that to you and the press about a month ago. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. 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. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. Young Sheldon, network TV's #1 comedy. And we've lapped that now, and we're seeing some growth now. During the fourth quarter of 2022, Warner Bros. On the advertising side, it's kind of a complex answer. 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, for canceling "Batgirl . And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. Warner Bros. We see price as a very important second part. Warner Bros. And then if you loved it, you can come up and you could then pay for on ad-lite or in subscription. . 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. Operator. It's working. 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. company's most recent annual report on Form 10-K and its reports on Form 10-Q and Form 8-K. with that, I am pleased to turn the call over to David. Sep 2, 2021 Seeking young performers for Nickelodeon's nationwide (US and Canada) Performers with Disabilities Open Call! Successfully localized over 75 titles and worked with over 50 different studios since 2005:<br> Warner Bros. Montreal (April 2013 - Present): Batman: Arkham Origins, Middle-Earth: Shadow of Mordor, Batman: Arkham . 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. We have a lot of points to be very excited about. Warner Bros. Taking a step back here, though, I mean, the reason why -- one of the reasons why we carved out the linear business, the network business is, one, separate segment is to be completely transparent about where those trends are moving. We are also advantaged by the fact that our U.S. networks average 30% of all nightly cable viewers in the key 25 to 54 demo. And later down the road, we're also obviously going to start looking at new market launches, again. 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. That's the power of streaming. Discovery. We have a great hand and we're doing a lot right. Hello, everyone, and thank you for joining us. Today, I'm thrilled to announce that Mike and Pam signed a deal to make multiple Lord of the Rings movies. Turning to Networks. 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. I mean, pot levels in the industry, I think, were down 14% in the quarter. 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. Sure. Thank you for attending today's presentation. 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. And it's the same principle with theatrical, perceived value of content increases when there's a great expectancy and excitement. With me today is David Zaslav, President and CEO; Gunnar Wiedenfels, our CFO; and JB Perrette, CEO and President, Global Streaming and Games. During the WBD quarterly earnings call, Zaslav . WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. 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. 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. Yes. Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . Gunnar? 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. 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. And so I think that is key to us in terms of building the long-term strength. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. 3 min read. There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. Netflix Reality Series Audition 2023 Casting Calls. And there's a number of uncertainties as you wouldn't be surprised to hear. 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.. 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. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. If there is interest in pursuing an application further, the applicant will hear back within 14 days of their original submission. 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. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. And we don't yet have, we think, a strong enough position in that market. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. And I think I just only add go ahead. So again, as I said, a similar picture with more diversity. That's not the point. 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. 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. 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. Yes. Casey and the team continue to fuel critical and audience acclaimed with globally resident content, driving improvements in engagement and churn, which is setting up a nice tailwind into the relaunch. October 27, 2022 THE LATEST Casting Lady Gaga Joins. Or is that something that might fuel that service? 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. Social media explodes and people are calling their family and friends to talk about what they saw. Discovery in April last year. They are also looking for actors between 16 and 18 to portray both Gellert Grindelwald and Albus Dumbledore as teenagers. All U.S. extremist mass killings in 2022 linked to far right, . We also made a decision in the upfront to drive price rather than extra volume. And back then, you had to watch the show on Thursday night. If you look at The Last Of Us, it was growing every week, Euphoria, to be able to deliver 20 million, 30 million, 35 million people in America watching and to have it be a conversation. Discovery, Inc. ( NASDAQ: WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET Company Participants Andrew Slabin - Executive Vice President, Global Investor. If you could share your view on those two impacts, that would be very helpful. In terms of the market itself, it's -- as I've said before, it's not a good environment. Discovery to Report Fourth Quarter 2022 Earnings: Listen Live on February 23, 2023 at 4:30 p.m. Discovery Inc. is suing Paramount Global, saying its competitor aired new episodes of the popular animated comedy series "South Park" after Warner paid for exclusive rights. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. (Photo by Santiago Felipe/Getty Images) More details on the decision to have Wonder Woman 1984 debut in theaters and on HBO Max at the same time have been revealed, and it turns out there's a good reason for handling the sequel this way. Discovery might have had. We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. Yes. Warner Bros. is a global leader in all forms of entertainment, from movie and TV screens to mobile devices, store shelves and beyond. 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