And there are times when our share is significantly higher with marquee events, such as March Madness and the MLB and NBA playoffs. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. Our next question comes from Brett Feldman with Goldman Sachs. We're assuming that. 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. One of them is off to a very good start. It's 1 of the biggest value creation opportunities for us. And there's lots more to come including the highly anticipated Mortal Combat 12 and Suicide Squad - Kill The Justice League, games also set for release this year with ambitious launch projections. And HBO is streaming's new must-see TV with all of its cultural impact and excitement. https://forms.gle/pSmy15EJENw7foXi9 Advertisements We got to take those swings. We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. The 99-year-old movie studio, home to Harry Potter, Batman and Bugs Bunny, will now head in a. And so I think that is key to us in terms of building the long-term strength. Appreciate all the information you just shared. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. And my second question is about this pending relaunch MAX product. We have a lot of points to be very excited about. Here we have mentioned the name of the founder below here on page read it carefully. 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. But the digital inventory, which really held up in the fourth quarter has also softened. 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. 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. WIZARDING WORLD Publishing and Theatrical Stage Rights J.K. Rowling. With me today is David Zaslav, President and CEO; Gunnar Wiedenfels, our CFO; and JB Perrette, CEO and President, Global Streaming and Games. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . Interested in future casting calls or joining our casting division? . Table of Contents J.B., anything to add to that? 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 as we look to 2023, my near-term key financial priorities remain: number one, delivering against our synergy and transformation targets where we are managing towards an incremental $2 billion of cost capture in 2023 and the larger opportunity I mentioned previously. We believe that when you have content that is so good that it hits the gist. 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? 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. It gives a huge advantage with those tent poles. 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. And most importantly, we saw improvement across key KPIs. We're going to be releasing 12 films, 6 games. 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. Q&A session is now closed, which concludes today's conference. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. More Earnings Resources from MarketBeat Earnings Tools: Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance And then we ourselves will run our own fast service. FAST is one area that as we look at the evolution of consumer behavior, we look at obviously a lot of the free-to-air viewing moving to what we call free-to-view online. Discovery Second Quarter 2022 Earnings Call. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. Stay tuned for more to come on this front. 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 I think our diversity, we have all these different assets that have -- that are different. 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 there's a number of uncertainties as you wouldn't be surprised to hear. Well, look, we were laser-focused on building this DC 10-year plan. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. 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 . 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. The search for Nick took Warner Bros. much longer than expected, though, and eventually Golding was ready to sign on. And then there was a lot of content that just wasn't being viewed. But -- and I know it's a tough question to put numbers around. I do believe, as JB said, and we do believe, as a company, that we'll sort of recreate this -- the streaming service, which is ad free, then which -- then there'll be ad-lite. We got some of the best creatives in the industry right now focused on those swings. 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 . We are not conducting any type of audition. 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. We want to tell the best stories, share them with the broadest audience possible, and we do that by working together as 1 team, 1 company. But as David said, we've got sports and news that today are really untapped in the streaming world, and those are optionality for what we might be willing to do in the future, and we'll share more of that on the 12th with you with more detail. And Ben, on the D2C question, let me start with the revenue side of it. Warner Bros. But that said, there's always going to be a place for quality content and we're open for business. And where does the WBD fit in that? 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. Obviously, successful films will help your Studio segment earnings. 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. Internationally, as I've said before, we look at our pricing is significantly under where we think the market is. Gunnar? It comes after HBO and HBO. Echoing some of what David said, the leadership team is ever more aligned on strategic decision-making that benefits the company as a whole versus one segment or another and is incentivized as such. I want to follow up on the streaming discussion. 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 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. Number two, partnering with our business leaders to embrace a more rigorous analytical framework through which capital allocation decisions will be viewed, particularly as we refine how our content is monetized and windowed. 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 that storytelling IP. It's about the sustainability and the longevity the free cash flow being delivered by that segment. Use the form below to submit your basics and we'll reach out to you when the next big film casts! If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. All U.S. extremist mass killings in 2022 linked to far right, . The studio is the flagship producer of live-action feature films within Warner Bros. So that is having some impact on us versus others that were -- that took a much bigger position in the upfront. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. On the news side, we are fighting hard and making real progress. Despite the full integration of Warner Bros. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. 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. Discovery, for canceling "Batgirl . 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? 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 And now we're -- this year, you're going to see us fighting on DC. 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