Posted 2/23/2024, 1:03:52 PM
Warner Bros. Discovery Streaming Turns First Full-Year Profit of $103M After 2022 Losses
- Warner Bros. Discovery became the first Hollywood studio to turn a full-year profit in its streaming business, making $103M in 2023
- Its streaming unit went from a $2.1B loss in 2022 to a $103M profit in 2023
- Global streaming subscribers ended 2023 at 97.7M, up slightly from 95.1M in Q3 2022
- Full-year free cash flow and debt reduction targets were achieved
- CEO David Zaslav said the company is now "on solid footing" and has a "clear pathway to growth" going forward