And so selling that to drive free cash flow and to nourish the overall segment, so that we, as a media segment, can be successful is important. August 15, 2022 10:20am. These statements are made based on management's current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from our expectations. 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. Reiterating my earlier point, I'm very pleased with where we ended the year and encouraged with our ability to balance choppy macro tides with success in repositioning the company for future growth. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. Thank you for attending today's presentation. And when you tell them a great story and they get to experience it with others, either in a packed theater or on a Sunday night, it really is magic. 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. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. "I was in the movie 'Grown Ups'. And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. Warner Bros. And I think I just only add go ahead. We've heard the word curated. It reminds me of my time at NBC when Thursday Night was must-see TV. Starting with the Studio segment. Yes, that's one important ingredient. 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 . Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . If you could share your view on those two impacts, that would be very helpful. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. 3 min read. It's significantly better outside the U.S. right now, which is a surprise. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. Discovery advantage. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. 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. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. Required fields are marked *, Warner Bros.-Seven Arts, Inc.(19671970), Toby Emmerich(Chairman, Warner Bros. Pictures Group), Walter Hamada(President, DC-based Film Production), studiofacilities.warnerbros.com/studio-operations-inquiry-form/. 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. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . So I think we're very well positioned. is looking for PAID EXTRAS for a new series on THE CW based on DC Comics series "NAOMI" that will be filming here in Atlanta, GA. October 27, 2022 THE LATEST Casting Lady Gaga Joins. They have great plans to revitalize the nets and have also begun to use our exceptional library of film and television content in a way that will benefit our linear and cable networks. 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. Yes. It's working. Some are advertiser-driven. 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. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA I have one for David and then one for J.B. or Gunnar. 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. Discovery Cuts Scripted Programming at TBS, TNT. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. 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. 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. Anyone under 18 must ask a parent or guardian to send the application. And now we're -- this year, you're going to see us fighting on DC. Join the Fan Club and bring your traits with you. We haven't done new Harry Potter content in over a decade. And then obviously, with the new product, we just look at some of the features that we're going to be rolling out and some of the improved and enhancements from a performance standpoint in the product at a much higher engagement, which will help both our ad-lite monetization, including, as David mentioned earlier, the fact that we're now putting ads and all the content on HBO Max as opposed to just some of the content on HBO Max, all those will be part of the revenue drivers in addition to obviously having the rights like we talked about before, for all of our sports in the U.S. and news content eventually that could also help us drive further scale and pricing in the years ahead. We met with 186 of the top leaders in -- for a week in early January. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. Christian Zilko We expect 2023 pro forma adjusted EBITDA to be in the low to mid $11 billion range, representing growth of low to mid-20%, against pro forma adjusted EBITDA of $9.2 billion in 2022. And Ben, on the D2C question, let me start with the revenue side of it. And so we are a storytelling company. Warner Bros. Yes. Please disable your ad-blocker and refresh. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. This company every year give up the chance for new talents. 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? Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. So a lot to be looking forward to. And after just 5 weeks, an astounding 35 million people have watched episode 1. We have command and control of each of the businesses. With the successful launch of Hogwarts Legacy 2 weeks ago, we reimagined 1 of the biggest global franchises in the world. This year, we celebrate the storied Warner Bros. Studios 100th anniversary with a deepened commitment to telling quality, diverse stories, with the power to entertain, inspire, and when we are at our best, impact or even change the culture. And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. We got to take those swings. 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. 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. Just what should we expect in terms of '23 versus '22? So we do see subscriber scale as one part of the revenue growth story. And why should we need to monetize that in order to drive shareholder value. But in addition, we want to run this company to drive free cash flow and the ability to monetize a lot of the content that isn't critical to subscriber growth. Having said that, as we face this next upfront, which is coming up in two months, I think the breadth of our content together with where we go in on price, positions us very well. Sir, you may now begin. 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. 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. It's working. Discovery CEO David Zaslav wants to redeem his predecessors' failure to rival Disney with its library of intellectual property through an unprecedented focus on tentpole events. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. In every country, they'll leave dinner and they got to go home to view that product that they love. 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. And basically, we create a flywheel of our own, where we own the full ecosystem, the subscription, the ad-lite and the ad free. 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? The casting of a young Leta would suggest that her character might have a bigger role in the sequel. Looking for Pottermore? Warner Bros. is a global leader in all forms of entertainment, from movie and TV screens to mobile devices, store shelves and beyond. Does that include any potential asset sales like nonstrategic asset sales? Yes. 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. Open casting calls are something of a tradition in the Wizarding World. David, if James and his DC strategy is successful, which I'm sure is your expectation, what does that mean for the company overall over the long term? Well, one of the big advantages that we have, Brett, is that we have this diversity of content. We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. For those that are happy paying $5 or $7 and having home, food, Discovery and own type content. Disclaimer: Audition free of cost for more information visit the respective official site. Yes. While every applicant will be considered, only those passing the initial consideration round will be contacted. 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. CASTING SUBMISSION - Actors & Extras Discovery in which we took some pivotal initial steps. I want to follow up on the streaming discussion. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. This company every year give up the chance for new talents. This company is found in the years 1923. The product will offer compelling content for every member of the household. And I think our diversity, we have all these different assets that have -- that are different. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . Moreover, the exit rate coming out of the fourth quarter lends confidence in continued very strong financial performance thus far in Q1 and into our soon-to-be relaunched D2C offering. We're also thrilled by what we're seeing coming out of our games business, which represents a core part of our overall strategy. That's what we're looking to primarily deliver. Young Sheldon, network TV's #1 comedy. It's the backbone of what we're doing, and we'll keep investing. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. 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. We're assuming that. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. We've rightsized the content investments. Consistent with what we told you last August, we are getting ready to launch our combined streaming service here in the U.S. in a few months with Latin America to follow later this year and markets in EMEA and APAC in '24. December 13, 2021. And so we were able, in many ways, to Monday morning quarterback. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. Thank you, Jessica. 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. 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