Warner Bros. Discovery falls short of expectations in Q3 despite success of “Game of Thrones” spinoff • ZebethMedia

Warner Bros. Discovery (WBD) reported its fiscal quarterly earnings this afternoon– its last one before the company is set to launch a new streaming service next year that combines HBO Max and Discovery+ content.
Since Netflix reported decent Q3 results, the market likely anticipated an okay turnout for WBD. However, it’s clear the company fell short. HBO, HBO Max and Discovery+ ended the third quarter with a combined net add of 2.8 million global subscribers, bringing the total to 94.9 million, up from 92.1 million in Q2. However, Wall Street anticipated a net add of 3.27 million subscribers.
Last quarter, the company reported a loss of 300,000 domestic subscribers, bringing the total to 53 million. The new total is 53.5 million domestic subs.
WBD stock has dropped 49% year-to-date.
Analysts were bullish on revenue and expected $10.51 billion, which would have been a 233.6% jump year over year. WBD sorely missed expectations and reported a total of $9.82 billion.
After reporting a net loss of $3.4 million in Q2, WBD’s net loss of $2.4 million this quarter isn’t as bad—we guess.
Overall, WBD has a gross debt load of around $50.4 billion, the company noted. This is a promising improvement from the previous $53 debt load. The company has said it wanted to slash $3 billion worth of costs over the next two years.
WBD has ramped up its restructuring efforts, including canceling HBO Max titles and cutting down its workforce. Most recently, 14% of staff working under HBO and HBO Max chief content officer Casey Bloys were laid off.
“While we have lots more work to do, and there are some difficult decisions still to be made, we have total conviction in the opportunity ahead,” CEO David Zaslav said in today’s letter.
On the bright side, HBO’s “Game of Thrones” spinoff series, “House of the Dragon,” garnered record-breaking viewership numbers. The series premiere had 10 million viewers, and the finale had 9.3 million. The entire series overall had an average of around 29 million viewers in the U.S., the company wrote in its letter to shareholders. This is likely why “House of the Dragon” will get a second season, with rumors that six more spin-offs are on the way.
The company also announced yesterday that it is collaborating with NFT platform Nifty’s to launch “Game of Thrones” NFTs for fans to collect customizable avatars inspired by characters from the series, weapons, companions, gear and more. This comes a week after Warner Bros. launched “Lord of the Rings” NFTs, another popular franchise that’ll likely help the company earn revenue.
Also, Zaslav made a smart move with the recent hire of James Gunn and Peter Safran as co-chairmen and chief executive officers of DC Studios. Gunn is a top filmmaker in the industry, with tons of impressive superhero titles under his belt. Safran will also make an excellent addition to the studio since he’s produced “Shazam” and “Aquaman.”
After years of working with Disney’s Marvel, Gunn turning over to Warner Bros.’ DC Entertainment marks a crucial moment for the company. Plus, after the extremely disappointing news that “Batgirl” was canceled, Zaslav has to work hard to get DC fans back on his side.

             Disclaimer: Any Product You Buy Here, Amazon Pays me A Commission With No Additional Fee.

 

This is a must Have Software For Your Home & Business. This software will help your business and make your job Stress Free.

Business and Office Management  Category.

(Old Version) H&R Block Tax Software Deluxe + State 2023 with Refund Bonus Offer (Amazon Exclusive) (PC/MAC Download)

(4264)

20% Off $49.99 $39.97 (as of November 21, 2024 06:11 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Choose to put your refund on an Amazon gift card and you can get a 2% bonus. One state program download included. State e-file sold separately. Reporting assistance on income from investments, stock options, home sales, and retirement Guidance on max... read more

Acrobat Pro | 1-Month Subscription | PDF Software |Convert, Edit, E-Sign, Protect |Activation Required [PC/Mac Online Code]

(1444)

$29.99 (as of November 21, 2024 06:33 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Create and edit PDFs. Collaborate with ease. E-sign documents and collect signatures. Get everything done in one app, wherever you go. Edit text and images without jumping to another app. E-sign documents or request e-signatures on any device. Recipi... read more

Adobe Photoshop Elements 2025 & Premiere Elements 2025 Student & Teacher Edition | PC/Mac Code | Box with Download Code | Photo & Video Editing | 3-year term license | Activation Required

(17)

$79.99 (as of November 21, 2024 05:39 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Remove photo objects with AI power. Create and control photo depth with AI. Change the color of any object in your photo. Seamlessly combine multiple pics. Create dynamic video titles with text styling controls. Access free Adobe Stock video title te... read more

Adobe Photoshop Elements 2025 | Photo Editing | 3-Year Term License | PC/MAC | Box with Download Code | Activation Required

(17)

$99.99 (as of November 21, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Remove objects with AI power. Create and control depth with AI. Change the color of any object. Seamlessly combine multiple pictures. Create with modern textures and graphics. Be creative with the web and mobile beta apps. Get a 3-year term license f... read more

AVG Ultimate 2024 | Antivirus+Cleaner+VPN | 5 Devices, 2 Years [PC/Mac/Mobile Download]

(1124)

14% Off $34.99 $29.99 (as of November 21, 2024 06:11 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

AVG ULTIMATE: Your all-in-one antivirus, VPN, and tuneup combo. OUR BEST SECURITY: Enjoy our advanced, real-time security for your computers, tablets, and phones. OUR BEST PRIVACY: Secure your privacy with powerful encryption so no one can see what y... read more

Bitdefender Total Security - 5 Devices | 1 year Subscription | PC/Mac | Activation Code by email

(2361)

50% Off $89.99 $44.99 (as of November 21, 2024 06:43 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

SPEED-OPTIMIZED, CROSS-PLATFORM PROTECTION: World-class antivirus security and cyber protection for Windows, Mac OS, iOS, and Android. Organize and keep your digital life safe from hackers. ADVANCED THREAT DEFENSE: Your software is always up-to-date ... read more

Bitdefender Total Security 2024 – Complete Antivirus and Internet Security Suite – 5 Devices | 2 year Subscription | PC/Mac | Activation Code by Mail

(3511)

$74.99 (as of November 21, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

SPEED-OPTIMIZED, CROSS-PLATFORM PROTECTION: World-class antivirus security and cyber protection for Windows (Windows 8, Windows 8.1, Windows 10, and Windows 11), Mac OS (macOS X Yosemite 10.10 or later), iOS (11.2 or later), and Android (5.0 or later... read more

Clifford The Big Red Dog Thinking Adventures CD-ROM Parent's Guide Ages 4-6

(9)

-85% Off $2.43 $4.50 (as of November 21, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

CLIP STUDIO PAINT PRO - Version 1 - Perpetual License - for Microsoft Windows and MacOS

(3061)

$23.99 (as of November 21, 2024 06:18 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Create original sketches using your mouse or draw naturally with a pen tablet. Powerful coloring tools make CLIP STUDIO PAINT your all-in-one illustration, painting, manga and comic creation solution. Use an assortment of powerful art tools for illus... read more

CodaKid Roblox Coding, Award-Winning, Coding for Kids, Ages 9+ with Online Mentoring Assistance, Learn Computer Programming and Code Fun Games with Lua and Video Game Programming Software (PC & Mac)

(332)

$59.00 (as of November 21, 2024 05:32 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

CodaKid’s Roblox Lua coding educational software provides 100+ hours of interactive student projects designed to engage and educate kids, teaching them to become creators in their own right. Students learn real Lua coding and video game design using ... read more