So, if you know any young acting hopefuls who know their Elder Wand-lore, or have a penchant for Sherbert Lemons, now is the time to let them know. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. It's not about getting it out quick. The closing date for applications is Tuesday, 20 June 2017 at midnight GMT. Discovery advantage. So I think this is an exciting time because I think we're really -- we made some tough decisions. We have command and control of each of the businesses. I do believe, as JB said, and we do believe, as a company, that we'll sort of recreate this -- the streaming service, which is ad free, then which -- then there'll be ad-lite. Warner Bros. The guidance does not include any asset sales. 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. But that said, there's always going to be a place for quality content and we're open for business. Is that something you're able to comment on now? And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. The fourth quarter marked the end of a first and very defining chapter for Warner Bros. Discovery, for canceling "Batgirl . It gives a huge advantage with those tent poles. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. One of them is off to a very good start. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. But I always would err toward price, because I think that's where you really build asset value. For us, 2023 is a year of building. We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. 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. And the good news is we've had a real chance to look at content on each of the platforms over the last two years. Aug 9, 2022, 8:40 AM. Storytelling content is most powerful when you're watching it and then you're with others, either in a theater, or you're able to talk about it either online or with your friends, that's the power of content, not when you're viewing content alone. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. John Oliver in season nine of "Last Week Tonight With John Oliver." Paula Lobo/HBO. Anyone under 18 must ask a parent or guardian to send the application. 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. Thank Sure. Margot Robbie, who plays Barbie, is instantly as Barbie-esque as you could imagine, all blond hair and smiles and bright pink car. I'm just wondering if you can talk about some of these assumptions. It's working. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. You had 6% growth this quarter, a lot of that from advertising and content, but do you need revenue growth to accelerate in order to deliver that $1 billion? This is one team now. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. CASTING SUBMISSION - Actors & Extras 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. We have a great hand and we're doing a lot right. from casting calls to the lure of the red-carpet award season. In every country, they'll leave dinner and they got to go home to view that product that they love. It's the backbone of what we're doing, and we'll keep investing. And that is what all great talent wants. But -- and I know it's a tough question to put numbers around. Our next question comes from Kutgun Maral with RBC Capital Markets. Q&A session is now closed, which concludes today's conference. 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. Discovery experienced a staggering USD 2.1 billion financial setback. There are some opportunities that I'm looking at below deck as we say, but none of that would be baked into this leverage guidance. 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. It's not about getting it out for a certain date. And most importantly, we saw improvement across key KPIs. 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. 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. Discovery, ensuring it will remain as the exclusive Australian home of HBO, Max Originals, Warner Bros. and Discovery programming. And then if you loved it, you can come up and you could then pay for on ad-lite or in subscription. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. 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.. Starting with the Studio segment. December 13, 2021. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. Discovery Second Quarter 2022 Earnings Call. 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. We are laser-focused on delivering against our high-level strategic, operational and financial targets, and the three pillars that comprise our core principles. How much do you feel like is more reflective of some of the underlying trends that just have to do with ratings declines or core cutting and those types of trends? Webcast. As you look out to '23, I think Gunnar kind of touched on some of the potential tailwinds, but it sounds like you're walking away from close to $12 billion in EBITDA to maybe low to mid-$11 billion in EBITDA. 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. Some are advertiser-driven. Here through this post, we are also providing complete necessary details about the Warner Bros Pictures Casting Directors Dates Roles. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. But I also think we're very well positioned to grow from here. The Last Of Us, for example, grew its Sunday premier night viewership by about 1 million with each episode over the first 4 weeks. This company every year give up the chance for new talents. I remain very optimistic about the range of potential outcomes in 2023 and beyond. So there was 60% that was hardly being viewed. And I'm not taking anything off the table here, but I just want to be realistic as well about what we're seeing today. 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. Yes. 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. Obviously, successful films will help your Studio segment earnings. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . We can take you into the theater around the world. I can't wait for The Flash to hit the theaters in June. 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. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . In the end, there was public backlash over his casting, but not because of his . Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. Clearly, you still have some macro challenges, but what could go right? The sentiment is not terrific. We can put that down on our AVOD service. Is this happening to you frequently? 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. 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. Based on the traction we are seeing across the broad spectrum of operational and financial KPIs, we expect segment EBITDA to be more or less breakeven in Q1, which implies another $500 million improvement year-over-year, roughly in line with the improvement seen in Q4. This doesn't yet reflect the $1 price increase on the ad-free retail tier in the U.S. that was implemented in January and which has been digested quite well. A few weeks ago, James and Peter rolled out Phase I of their highly anticipated multiyear plan for DC Studios across film, television and animation with 5 films and 5 television series already in the works, the new era for DC under a single creative vision is in full swing, and we are especially eager to thrill fans with new Superman and Batman movies in 2025. 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. Warner Bros. And there's lots more to come including the highly anticipated Mortal Combat 12 and Suicide Squad - Kill The Justice League, games also set for release this year with ambitious launch projections. On FAST, look, the strategy is, I think, back to some of the questions earlier, at the end of the day, one of the advantages we feel like we have is the question keeps coming up about windowing. Naturally, we are laser-focused on delevering the balance sheet, where I see net leverage very comfortably inside of 4x by the end of 2023 and reiterate our prior guidance to be within the investment grade range by mid-2024 and within our gross leverage target of 2.5x to 3x by the end of 2024. Look, the symmetry of the Discovery+ content, which is heavily viewed for hours a day, mostly during the day and infringe against the HBO content, which is watched more, Discovery+ maybe more passively, HBO, more with family, that the more research we do, the more we look at it, the more we think these fit together very well with appealing content to everybody in the family. And then, Gunnar, you sound very bullish and confident on the D2C targets, the $1 billion of EBITDA in '25. Clearly, as we have pointed out as a key risk since the summer, underlying advertising trends, particularly in the U.S., have continued to soften through the fourth quarter, and that was further exacerbated by general entertainment audience declines. It's 1 of the biggest value creation opportunities for us. . 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 we were able in the upfront to drive price significantly more than all of our peers. We also signed fast content deals with Roku and Tubi, adding to these popular platforms, hundreds of our TV shows and movies, while maximizing the reach and overall value of our content. And we hit this year with a full leadership team in place. 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. What's in there for upside, which is something that you didn't really talk about that much, but it's new? We continue to be the place creators are choosing to bring their visions to life. I believe we've barely begun to scratch the surface in terms of the potential here, and I'm excited about the benefits as this cascades throughout the organization. And that isn't critical to or helpful to churn. Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. I believe Warner Bros. TV is the greatest quality maker of content in the world. We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. We work, grow and create world class content in one of the biggest, busiest studio lots in the industry, as well as at countless studios, sets and offices around the globe. Cast: Dwayne Johnson, Keanu Reeves, Joh Krasinski, Kate McKinnon, Natasha Lyonne, Kevin Hart, Diego Luna, Jameela Jamil, Vanessa Bayer, Marc Maron About: Krypto the Super-Dog (Johnson) and Superman (Krasinski) are inseparable best friends, sharing the same superpowers and fighting crime in Metropolis side by side. Warner Bros. First, let me say, this promises to be a very exciting year for our company. So I think we're very well positioned. 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. Hello, everyone, and thank you for joining us. 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. 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? The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. The casting of their teenage incarnations as well as those of Newt and Leta will be sure to intrigue Harry Potter fans, and drive further speculation about the next films story. Batman Day - September 17, 2022. Just what should we expect in terms of '23 versus '22? Discovery and sort of the earnings power of the organization? Channing is the best example of that. So that storytelling IP. 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. 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. Again, creating shows that people want to watch. Discovery, Inc.. Is there any of your content that's definitely off the table to be included in that service? It's working. This phenomenon can go for eight, 10-plus weeks for each series. We got some of the best creatives in the industry right now focused on those swings. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. On the news side, we are fighting hard and making real progress. With that, I'll turn it over to Gunnar, and he'll walk you through the financials for the quarter. But the key to this company is, as a storytelling company, we have this diversity. 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? But the digital inventory, which really held up in the fourth quarter has also softened. You probably know that, because we've kept the lights on at TBS for the last five years.". We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. We see better engagement, better churn, which makes marketing efficiencies come up. And as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. The Hogwarts game, we took several additional months to rework it, to get it right. And we continue to track above our internal plans. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. This information is only for educational purposes use. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. The product will offer compelling content for every member of the household. 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. Reportedly Cancels 'Wonder Woman 3' Warner Bros. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. Warner Bros. 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. We've contended with recent share shifts away from our portfolio during the NFL and College Football season and the World Cup. It's just too early to really call a trend change here. 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. I think the focus for many of us is usually each company's top profitability, but maybe there's not enough attention to the fact that each of these moves could have pretty dramatic impacts to the industry and competitive landscape. I mean, pot levels in the industry, I think, were down 14% in the quarter. Warner Bros. All U.S. extremist mass killings in 2022 linked to far right, . Warner Bros. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . We reduced EBITDA losses by $500 million year-over-year to $200 million in Q4, supported by 1.1 million net sub adds in the quarter. We see price as a very important second part. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. 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. 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. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . And I think that diversity is strength. We took bold decisive action over the last 10 months and the bulk of our restructuring is behind us. Looking ahead within the Studio, 2023 will be a pivotal year, particularly behind our larger and broader release slates at both Warner Bros. Pictures and DC, not to mention a wonderful start with Hogwarts Legacy on the game side. With respect to the cadence of free cash flow, as is historically the case for both legacy Discovery and WarnerMedia, Q1 free cash flow will represent the low point for the year given the timing of sports rights payments, timing of content outlays and cash interest payments on a large portion of the acquisition debt. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. Please disable your ad-blocker and refresh. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. It reminds me of my time at NBC when Thursday Night was must-see TV. 2023 will be a year of building and off we go. And as we think about where we put content, as Casey looked at HBO, we were able to see which content are people spending time watching, what content is really powerful to us in terms of reducing churn. 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. Does that include any potential asset sales like nonstrategic asset sales? Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. And we have high hopes for all of these metrics after the combined product launches to further improve. We got to take those swings. Let me start with the second. Passionate about supporting Creatives to develop, produce . Yes. ET Follow HBO Max Go to Site Follow HBO Go to Site Follow Warner Bros. Go to Site Follow HGTV Go to Site Follow Discovery Go to Site Follow discovery+ Go to Site Follow CNN Go to Site Follow TBS Go to Site Follow Food Network Warner Bros. Warner Bros. If they ask you to pay a fee in order to audition for a specific role, it's most likely a scam. And I think there was a lot left on the table. 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. 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/. 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. To that end, linear ad sales is a top priority at the moment, particularly as we balance both cyclical headwinds and ongoing secular challenges, much of which we've dealt with for the last several years. Studio. Warner Bros. 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. Turning to the total company EBITDA outlook. I want to follow up on the streaming discussion. 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. We believe strongly in the importance of the motion picture window and having that shared experience with other people. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. As a storytelling company, we renewed agreements representing warner bros casting calls 2022 % of our peers &... Hbo on Sunday night with the biggest audience in America, tuning right into you and thank you for us. Declining ad sales revenue figures 877-674-7070 or +1 416-764 launches to further improve final of! Brought a hefty price: a net loss of USD 2.1 billion due to declining ad sales revenue.! & amp ; T handed off Warner Bros. will release Elvis, a biopic about the of! 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