I am proud of what we achieved in 2022 against the targets we set out in the summer and against an increasingly challenging environment in the second half of the year, and I'm proud of the momentum we have built exiting the year. In today's increasingly dynamic and a crowded media environment, the best hand has great storytelling IP, brilliant creatives, a full slate of production and distribution capabilities, and broad global reach that stretches across premium, pay TV, free-to-air, theatrical, streaming, licensing and gaming, the entirety of the ecosystem, and that is exactly the hand that we have, and we intend to play it decisively and with a focus on free cash flow and an eye towards sustainable future growth. 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. Anyone under 18 must ask a parent or guardian to send the application. It's working. We can put that down on our AVOD service. 53 min read Participants Andrew T. Slabin; EVP of Global Investor Strategy; Warner Bros. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. Discovery CEO David Zaslav attends NRDC's "Night Of Comedy" Honoring Anna Scott Carter at Casa Cipriani on September 20, 2022 in New York City. Number four, driving overall efficiency and free cash flow conversion towards our near-term goal of 1/3 to 1/2 conversion of adjusted EBITDA with longer-term upside towards our 60% goal. Studio. There hasn't been a stand-alone Superman movie in a decade. Gunnar? Is that something you're able to comment on now? I believe Warner Bros. TV is the greatest quality maker of content in the world. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. Newt Scamanders relationships and past remain enigmatic, so any glimpse into his formative years will be huge for the character. Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . But the other key is that we have the largest TV and motion picture library and we're the biggest producer of quality content in the world. And we don't yet have, we think, a strong enough position in that market. Q4 revenue growth of 6% against the 12% decrease in combined operating expenses led to a significantly reduced EBITDA loss of roughly $200 million, a $500-plus million improvement year-over-year, notwithstanding a largely content-driven 6% increase in cost of revenue. In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. We'll definitely -- we're definitely planning for revenue improvement. The studio is the flagship producer of live-action feature films within Warner Bros. On the news side, we are fighting hard and making real progress. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. An open casting call has gone out for three actors between the ages of 13 and 16 to play young versions of Newt, Leta, and another character called Sebastian. I'll talk more about that in a minute. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. We were able to put that to work behind some of cases launches, behind some of our film launches. The market is -- the macro environment is very challenging. Sorry, Robert. The sentiment is not terrific. Yes. Games & Home entertainment faced difficult year-over-year comps as well due to last year's COVID-induced tailwind for library content. Social media explodes and people are calling their family and friends to talk about what they saw. There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. China said on Monday (local time) it sought dialogue and peace for Ukraine despite US warnings that Beijing might be considering weapons supplies for its ally Russia's bogged-down invasion. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. The game was 1 of the most highly anticipated of 2023. 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. So those candidates who are interested must have checked the companys full details. Discovery in April last year. Warner Bros. For us, 2023 is a year of building. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. James was writing Superman. Batman Day - September 17, 2022. We do see the weekly bookings right now ticking up slightly if you compare January and February with maybe the November, December timeframe, looking a little better; retail, fast food, entertainment, a little better; telecom, small, but coming back; but then you've got other areas like technology is still completely depressed. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Q&A session is now closed, which concludes today's conference. 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. 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 . We've effectively done that now, but we had to take two different sales teams and pull them together. https://forms.gle/pSmy15EJENw7foXi9 Advertisements 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? 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. The best way to drive interest and engagement is not by dropping the entire season on a platform all at once, but by allowing the buzz and anticipation to build over time. The guidance does not include any asset sales. CASTING SUBMISSION - Actors & Extras Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. The search for Nick took Warner Bros. much longer than expected, though, and eventually Golding was ready to sign on. With the successful launch of Hogwarts Legacy 2 weeks ago, we reimagined 1 of the biggest global franchises in the world. We haven't done new Harry Potter content in over a decade. 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. On the advertising side, it's kind of a complex answer. 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 my second question is about this pending relaunch MAX product. 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. Margot Robbie, who plays Barbie, is instantly as Barbie-esque as you could imagine, all blond hair and smiles and bright pink car. It's a wow. One of them is off to a very good start. 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. 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. And we continue to track above our internal plans. View this post on Instagram Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. The Last Of Us, for example, grew its Sunday premier night viewership by about 1 million with each episode over the first 4 weeks. We see price as a very important second part. 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. And so -- which -- where we pivoted and said we were going pushing to move all of our films back out with real windows in order to optimize those products. Reportedly Cancels 'Wonder Woman 3' Warner Bros. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . And it is shared -- the platform itself for Discovery+ will be a shared platform. And it's the same principle with theatrical, perceived value of content increases when there's a great expectancy and excitement. Arguably, we've done a little worse than that, partly driven by the scheduling or the sports schedules that David mentioned a couple of minutes ago. Warner Bros. Despite the full integration of Warner Bros. 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 have a fantastic leadership team moving us forward, everyone rowing in the same direction. 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. That's the power of streaming. Starting with the Studio segment. We are committed to continue executing our strategic initiatives to drive top line performance and with much repositioning behind us, we are beginning to fully lean into the opportunities ahead of us. 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. Thank you for attending today's presentation. Appreciate all the information you just shared. "We are looking for: single women and men between the ages of 23-35," the official Warner Bros casting call reads. And I think there was a lot left on the table. 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. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. from casting calls to the lure of the red-carpet award season. Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. Sir, you may now begin. And so I think that is key to us in terms of building the long-term strength. And we're doing it in a very tasteful way by putting it on the very front end. TM & WBEI. Last year was a year of restructuring. We've gone through a couple of the puts and takes here. This information is only for educational purposes use. Let me start with the second question. 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. Is there -- what are you considering? Our strategy is no sub left behind. Discovery experienced a staggering USD 2.1 billion financial setback. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. It reminds me of my time at NBC when Thursday Night was must-see TV. 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. I mean, pot levels in the industry, I think, were down 14% in the quarter. I'm confident that we will get there, particularly with some of the operational and content-driven initiatives implemented by Kathleen Finch and her team. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. And with that, I am pleased to turn the call over to David. So there was 60% that was hardly being viewed. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. Is this happening to you frequently? This phenomenon can go for eight, 10-plus weeks for each series. Discovery Cuts Scripted Programming at TBS, TNT. 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. Yes. And I think that diversity is strength. Discovery advantage. Oh, on FAST. 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 . Our next question comes from Michael Morris with Guggenheim Partners. But I also think we're very well positioned to grow from here. Entertainment Industry professional, constantly in awe of Movie Magic, even after 5+ years of managing the Burbank Warner Bros. We also made a decision in the upfront to drive price rather than extra volume. It's not about getting it out quick. Does that include any potential asset sales like nonstrategic asset sales? 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. Two questions. Photo: Kevin Dietsch/Getty Images. I think it could and should be huge because it wasn't being pushed on. We haven't done a Superman movie in 10 years. 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. The television studio is the latest arm of Warner Bros Discovery forced to make cuts in order to save at least $3 billion after the merger overseen by David Zaslav. 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? Interested in future casting calls or joining our casting division? Clearly, you still have some macro challenges, but what could go right? Our next question comes from Kutgun Maral with RBC Capital Markets. 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. Here through this post, we are also providing complete necessary details about the Warner Bros Pictures Casting Directors Dates Roles. 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. We are already seeing a more inclusive range of voices and viewpoints, as demonstrated last month, when over 70 Republicans came on our air during their Congressional speaker election process, a first in a very long time, and we intend to continue advancing on this balanced strategy. Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . So we do see subscriber scale as one part of the revenue growth story. Yes, that's one important ingredient. That's the power of curation. And we hit this year with a full leadership team in place. Casting Calls Georgia On Location Casting ATLANTA BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - June 23, 2022 856 0 Advertisements On Location Casting ATLANTA BACKGROUND Casting Notice **LINK TO SUBMIT! I can't wait for The Flash to hit the theaters in June. And to that end, we are now confident in a path to at least $4 billion of savings largely addressable through 2024, representing an increase of $500 million over our prior estimate. We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. 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 . 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. Maybe help us think about the levers you have and your expectations around top line over the next few years? We have full command and control of our business, and we are one company now. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. 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. He presented that to you and the press about a month ago. With me today is David Zaslav, President and CEO; Gunnar Wiedenfels, our CFO; and JB Perrette, CEO and President, Global Streaming and Games. But that said, there's always going to be a place for quality content and we're open for business. Warner Bros. 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. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. 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're assuming that. And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. Warner Bros. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. Your email address will not be published. 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. And so we're going to be -- Casey is the best example of that. 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. Some are advertiser-driven. 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. Content alone is really only half of the equation. 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. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . We continue to expect to convert 1/3 to half of EBITDA into free cash flow, as I stated earlier, with the key determinants and drivers of growth being the magnitude of EBITDA, net cash content spend, the impact of working capital initiatives, and the timing and magnitude of a trend change in the advertising market. We're going to be releasing 12 films, 6 games. They want -- they want to have an opportunity for their content to be seen, to be talked about, and they want to feel respected. But we'll take you through what that plan is and how we intend to do it on the 12th, but well locked and loaded. Please disable your ad-blocker and refresh. It was a heavy lift to bring 2 teams together, notwithstanding the economy being what it was, and we are now drilling down on all facets of the business. To participate in the Warner Bros. Yes. 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. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. You may now disconnect. And so we want to optimize that as a unified strategy for the company. 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 . And then for Gunnar or JB, can you maybe just expand upon your fast strategy and why you chose to do the deal with Roku and Tubi and maybe how that might impact the launch or timing of your own fast service? Participants must have the right to work in the United States or Canada. I'm especially happy about the development in our D2C segment, where we delivered a marked improvement across a number of key operational KPIs leading to a healthy sequential improvement to financial performance. And there's a number of uncertainties as you wouldn't be surprised to hear. And Ben, on the D2C question, let me start with the revenue side of it. But the digital inventory, which really held up in the fourth quarter has also softened. And that is the culture here at Warner Bros. While every applicant will be considered, only those passing the initial consideration round will be contacted. International markets continue to perform relatively better, stronger markets such as Poland and Italy were in part offset by weaknesses in the UK, Nordics and certain Latin American countries. 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. But the key to this company is, as a storytelling company, we have this diversity. Our next question comes from Ben Swinburne with Morgan Stanley. We will always be a little lower maybe than sort of a pure-play D2C product just because of the HBO linear trends that are baked into our revenue number. August 15, 2022 10:20am. Really trying to understand how much of the ad impact that you're seeing is kind of coming from the macro environment? With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. And HBO is streaming's new must-see TV with all of its cultural impact and excitement. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. No question about that. Discovery to Report Fourth Quarter 2022 Earnings: Listen Live on February 23, 2023 at 4:30 p.m. It gives a huge advantage with those tent poles. 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. And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. 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.. And it all stems from great storytelling. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. Just what should we expect in terms of '23 versus '22? Turning to consolidated results and free cash flow. 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 Gunnar will take you through all of the financials in our outlook, but I'm very pleased that we see our net leverage clearly below 4x by the end of this year, below 4x by the end of this year. And we're able to align our networks on a coterminous basis with these distributors. 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. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. Hello, everyone, and thank you for joining us. Among them, the integration and repositioning of our global finance organization through which we implemented a number of initiatives to drive efficiency and better support the company's long-term sustainable growth. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . 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? In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. Your email address will not be published. [Operator Instructions] Additionally, please be advised that today's conference call is being recorded. First, let me say, this promises to be a very exciting year for our company. So I think that's something that's really resonating with the creative community that their content is seen, it's curated and it's elevated and that's part of the cultural conversation, both in the theater and on the platform. 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. WBD 15.42 +0.67 Warner Bros. Again, creating shows that people want to watch. 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 we've lapped that now, and we're seeing some growth now. Young Sheldon, network TV's #1 comedy. And to that point, I have no doubt that we have years and years of that coming our way. Yes. Let me start with the second. Delivering the latest news and official products from the Wizarding World and our partners. Discovery's Q4 Earnings Call. 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 we take advantage of all the content that we have. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. J.B., anything to add to that? Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. I saw it and loved it. 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.

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