Barbie‘s dream house full of box office keeps getting stuffed with cash with the Greta Gerwig-directed Mattel doll adaptation becoming the highest grossing Warner Bros. movie ever in the studio’s 100 year history at the domestic box office with $537.4M, unseating previous champ, Christopher Nolan’s The Dark Knight which made $534.9M back in 2008.
Warner Bros. Discovery CFO Gunnar Wiedenfels On Strikes Savings “In Low $100M Range”; Release Dates Remain Fluid, Outlook “Assumes Return To Work In Early September”
03.08.2023 - 13:39 / deadline.com
While Warner Bros Discovery CEO David Zaslav on this morning’s Q2 earnings call for the conglom is “hopeful that all sides will get back to the negotiating room soon and that these strikes get resolved in a way that the writers and actors feel that they are fairly compensated,” WBD CFO Gunnar Wiedenfels served up info that there were “modest cash savings” when it came to the dual strikes.
“We estimate were in the low $100M million range during the quarter,” specified Wiedenfels.
This morning for the conglom in Q2, free cash flow was by far the standout financial metric, hitting $1.7 billion, more than double the $789 million from Q2 2022 and outstripping Wall Street forecasts.
Wiedenfels said that WBD’s outlook is for another $1.7B to get freed up in cash flow for Q3 with “subsequentially larger savings from the strikes” and the Barbie box office boom (which is approaching $1 billion worldwide). This is poised to put the free cash flow at $4.5B for the year and adjusted EBITA around $11B to $11.5B.
Wiedenfels said that WBD’s “modeling assumes early return to work date in early September. Should the strikes run until the end of the year, I would expect several hundred millions in incremental upside to our free cash flow guidance and some incremental downside to our adjusted EBITA.”
Wiedenfels did hint on the call, that more theatrical release date changes could be on the horizon.
“The remainder of feature films this year as well as Warner Bros TV production, release dates and performance expectations are naturally fluid given the ongoing strike and we’ll evaluate our options and update the market accordingly; we’ll see greater vulnerability against our forecast,” added the CFO.
“We’re hoping these strikes get settled
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deadline.com
14.08.2023 / 22:25
Warner Bros. Discovery Shutters IStreamPlanet
EXCLUSIVE: Warner Bros. Discovery has shuttered iStreamPlanet, a Seattle-based company that allowed users to stream live and traditional TV over the internet.
deadline.com
13.08.2023 / 00:25
‘The Real Housewives Of Salt Lake City’ Season 4: Bravo Reveals Release Date, Cast Photos & Trailer Featuring Mary Cosby’s Return
Things got a little chilly at Bravo with the trailer drop of The Real Housewives of Salt Lake City Season 4. The network revealed that the show will be premiering on Tuesday, September 5 at 9 p.m. ET/PT with episodes available the next day on Peacock. Watch a preview of the new season in the video posted above.
variety.com
10.08.2023 / 15:07
‘The Batman’ Sets Cable Debut at TNT as Part of Halloween Programming Slate Across Food Network, More Warner Bros. Discovery Channels (EXCLUSIVE)
Jennifer Maas TV Business Writer Warner Bros. Discovery is getting into the spooky spirit early, setting the Halloween-themed programming slate for its cable networks, which includes the linear debut of Matt Reeves’ “The Batman,” as well as new and returning specials and film marathons across Food Network, Discovery Channel, TNT, TBS, TCM, Travel Channel and Cartoon Network/Adult Swim. The leader in Warner Bros.
variety.com
10.08.2023 / 11:09
Warner Bros. Discovery Ups Andrew Georgiou to President for U.K., Ireland
K.J. Yossman Andrew Georgiou upped to head of Warner Bros. Discovery’s media business in the U.K.
deadline.com
10.08.2023 / 10:09
Warner Bros. Discovery Sets New UK & Ireland Boss, Antonio Ruiz Exits
More change at Warner Bros. Discovery, with UK and Ireland boss Antonio Ruiz exiting to be replaced by Andrew Georgiou.
deadline.com
08.08.2023 / 14:23
Priya Dogra Exiting Warner Bros. Discovery After 14 Years
Warner Bros. Discovery EMEA boss Priya Dogra is exiting the company after 14 years in post.
variety.com
08.08.2023 / 14:17
Warner Bros. Discovery EMEA Boss Priya Dogra to Exit After 14 Years
Manori Ravindran Executive Editor of International Warner Bros. Discovery EMEA boss Priya Dogra is leaving the company after almost 14 years. Dogra, a well-respected industry veteran, served as president and managing director of EMEA since the merger last year, having previously held a similar role for WarnerMedia that also covered Asia, including China.
deadline.com
08.08.2023 / 09:53
Toby Jones & David Morrissey Board ITV Yorkshire Ripper Drama; Lynne Ramsay Sarajevo; Warner Bros. Discovery J:COM Deal; BBC Studios Partners With Pinterest – Global Briefs
Toby Jones & David Morrissey Board ITV Yorkshire Ripper Drama
variety.com
04.08.2023 / 09:05
Warner Bros. Discovery’s Gerhard Zeiler to Deliver Mipcom Cannes Opening Keynote — Global Bulletin
Leo Barraclough International Features Editor Gerhard Zeiler, president of international at Warner Bros. Discovery, will give the opening keynote at the 39th edition of TV market Mipcom, which runs Oct. 16-19 in Cannes.
variety.com
03.08.2023 / 15:25
Warner Bros. Discovery Hints At Streaming Strategy for Sports, News
Brian Steinberg Senior TV Editor Warner Bros. Discovery appears to have bigger digital plans for Charles Barkley and Anderson Cooper. Warner Bros.
deadline.com
03.08.2023 / 14:49
‘Barbie’ To Debut On Max This Fall; Warner Bros. Discovery CEO David Zaslav Takes Victory Lap On Ultimate $1 Billion-Plus Grossing Pic
“Barbie is really important for us,” beamed Warner Bros. Discovery CEO David Zaslav on the conglom’s Q2 earnings call about the first pic to hit $1 billion under his reign.
deadline.com
03.08.2023 / 14:23
Max Will “Soon” Add News And Sports To Its Streaming Mix, Warner Bros. Discovery CEO David Zaslav Says, Though No Timeline Is Given
Sports and news programming will be coming “soon” to Max, according to Warner Bros. Discovery CEO David Zaslav.
variety.com
03.08.2023 / 12:33
Warner Bros. Discovery Says Strikes Saved It More Than $100 Million in Q2, David Zaslav Hopes Negotiating Resumes Soon
Jennifer Maas TV Business Writer Warner Bros. Discovery reported the Hollywood writers and actors’ ongoing work stoppage had brought the company savings in the “low$100 million range” during its Q2 earnings results call Thursday. “We’re in the business of storytelling.
variety.com
03.08.2023 / 11:29
Warner Bros. Discovery Sheds 1.8 Million Streaming Subscribers During Max Launch Quarter
Jennifer Maas TV Business Writer Warner Bros. Discovery lost 1.8 million streaming subscribers from April 1-June 30, the quarter during which it launched new combined streamer Max. Streaming subscribers across WBD’s HBO, Max and Discovery+ now total 95.8 million, per the company’s Q2 earnings report released Thursday.
variety.com
03.08.2023 / 11:29
Warner Bros. Discovery Sees Q2 Loss As Revenue Falls In Key Areas
Brian Steinberg Senior TV Editor Warner Bros. Discovery trimmed its losses in its second quarter but saw revenue fall in key areas such as advertising and content production as the company, built from a merger of WarnerMedia and Discovery Communications, continues to navigate shifting terrain in the media sector.
deadline.com
03.08.2023 / 11:21
Warner Bros. Discovery Q2 Results Hit By ‘The Flash’ And Soft Ad Climate, But Free Cash Flow Doubles To $1.7B
Warner Bros. Discovery reported spotty financial results in the second quarter, but delivered better-than-expected free cash flow.
variety.com
01.08.2023 / 20:17
Warner Bros. Discovery Streaming Comms Exec Chris Willard to Exit After 14 Years at HBO (EXCLUSIVE)
Jennifer Maas TV Business Writer Warner Bros. Discovery streaming comms senior vice president Chris Willard is exiting the company to pursue other interests after 14 years working with the HBO team, Variety has learned.
deadline.com
31.07.2023 / 14:47
Warner Bros. Discovery Overhauls U.S. Ad Sales Strategy, Structure
Warner Bros. Discovery, today announced a new strategy and structure for its advertising sales organization and leadership team under Jon Steinlauf, chief U.S. advertising sales officer.
variety.com
31.07.2023 / 13:35
Warner Bros. Discovery Restructures Ad-Sales Staff
Brian Steinberg Senior TV Editor Warner Bros. Discovery is the latest traditional media company to reorganize its advertising-sales team to meet the demands of a rapidly shifting market. The media conglomerate said it would rework its ad sales staff, overseen by Chief U.