07 Nov Warner Bros. Discovery Grows DTC Profit to $289M, Streaming Subs to 110.5M, Led by Olympics [The Hollywood Reporter]
BY GEORGE SZALAI, ETAN VLESSING
November 7, 2024 | Warner Bros. Discovery CEO David Zaslav told investors on Thursday the major studio is working to uncover the hidden value of key assets. The company said that it ended September with 110.5 million global streaming subscribers, including for Max and Discovery+, compared with 103.3 million as of the end of June. The gain of 7.2 million users was the largest ever quarterly growth in subscribers since the launch of Max, with subscriber growth across all regions.
The gain was driven by the Paris Olympics, which the company’s streaming operations featured in various international markets, streaming launches in new markets, as well as fresh content following last year’s dual Hollywood strikes. Streaming subs in the U.S. also posted a small gain. Total direct-to-consumer (DTC) segment revenue increased by 9 percent to $2.63 billion, led by the sub growth.
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