And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. Discovery to Merge Streaming Services James Gunn, and Peter Safran were Appointed to Be Executives of DC Studios 'Stranger Things' Caleb McLaughlin Says He Wants to Place 'Static Shock' Margot Robbie on Lady Gaga Cast to Play Harley Quinn in 'Joker 2' The reality is the market is evolving so dynamically that what we are doing is as 1 team, looking at all the different windows and what our real asset is having actual distribution assets in almost every form of media, whether it be linear television, on-demand television through streaming, games, theatrical distribution, free-to-air, pay TV. Such a move has been expected for quite some time, given Warner Bros. #inclusion #performerswithdisabilities #Disabilityawareness Looking for Pottermore? 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. And we've lapped that now, and we're seeing some growth now. 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. So there was 60% that was hardly being viewed. It's -- those three of the tentpole products that when someone's at dinner anywhere in the world, and they look at their watch at 8:00 and you mention Batman, Superman, Wonder Woman, Harry Potter, Lord of the Rings. I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. People want to be part of something. The only other thing I'd add, Ben, is for us, it's not just a question of subscriber scaling. The search for Nick took Warner Bros. much longer than expected, though, and eventually Golding was ready to sign on. It's a wow. 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. And while we are comping the Winter Olympic Games in Q1, which we expect will account for roughly 100 basis point headwind to our global advertising growth rate, we see underlying international trends modestly improving. We're also excited for the release of 4 DC films this year, starting with Shazam in 2 weeks and followed by The Flash, which James Gunn called 1 of the greatest superhero movies ever made, a masterpiece. So I was hoping you could just give us your most updated thoughts, so we kind of have that framework for assessing the new product when you rolled out on April 12. Thanks, Ben. And Brett, just to be clear, the Discovery content would still be available on the bigger relaunched combined product. No. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. So those candidates who are interested must have checked the companys full details. The Warner Bros. Television Workshop is the premier program for new writers and. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. And on the 2023 outlook, look, it's early in the year. Warner Bros Casting Calls are the most useful tools for those who are feeling capable that they can make an immediate impact on their acting careers, but aren't well-enough known to get invited to usual castings. Aug 9, 2022, 8:40 AM. Discovery, Inc.. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. We have a lot of motion picture content that we're reworking and making a lot of progress with. CASTING SUBMISSION - Actors & Extras Margot Robbie, who plays Barbie, is instantly as Barbie-esque as you could imagine, all blond hair and smiles and bright pink car. With the successful launch of Hogwarts Legacy 2 weeks ago, we reimagined 1 of the biggest global franchises in the world. You may now disconnect. You also hear a bigger discussion around how you decide when something should be exclusive to your platforms and when maybe you should be licensing. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. I believe Warner Bros. TV is the greatest quality maker of content in the world. Number two, partnering with our business leaders to embrace a more rigorous analytical framework through which capital allocation decisions will be viewed, particularly as we refine how our content is monetized and windowed. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. 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 after just 5 weeks, an astounding 35 million people have watched episode 1. Warner Bros. If you look at The Last Of Us, it was growing every week, Euphoria, to be able to deliver 20 million, 30 million, 35 million people in America watching and to have it be a conversation. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . August 15, 2022 10:20am. media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. NOW CASTING PAID EXTRAS, AGES 18+ to portray WHITE HOUSE STAFF for new NETFLIX & Tyler Perry Studios movie SIX TRIPLE EIGHT (6888). Presentation. 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. And we continue to track above our internal plans. We can put that down on our AVOD service. 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. We haven't done new Harry Potter content in over a decade. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. And so we're going to be -- Casey is the best example of that. And the best thing that we have going for us right now is all of that hard work that we did, and it was probably two years of work that we did in 10 months, it's now almost -- it's overwhelmingly behind us. We got some of the best creatives in the industry right now focused on those swings. 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. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . Warner Bros. didn't even have the courtesy to give the "Batgirl" cast and creative team a bat signal that their movie was being locked away in Arkham. I think you used it during your script. The reality is, in today's environment, I think it would be -- you wouldn't want us to say we have a static a 100% defined windowing strategy. More details on the decision to have Wonder Woman 1984 debut in theaters and on HBO Max at the same time have been revealed, and it turns out there's a good reason for handling the sequel this way. We have the largest maker and seller of content in the world, and while we've got lots more to do, we are increasingly seeing positive traction and strong proof points. . Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . 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. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. These shows have averaged as many as 20 million viewers in episode with strong week-over-week growth. 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? Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. 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? 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! No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. The studio is the flagship producer of live-action feature films within Warner Bros. 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. Passionate about supporting Creatives to develop, produce . 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. Netflix Reality Series Audition 2023 Casting Calls. 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. Our next question comes from Brett Feldman with Goldman Sachs. And why should we need to monetize that in order to drive shareholder value. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. And for us, DC alone will be -- could and should be a game changer. 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. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. DC Comics. MACON Advertisements RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA And it is shared -- the platform itself for Discovery+ will be a shared platform. And we're doing it in a very tasteful way by putting it on the very front end. HBO and HBO Max Hit with 70 Layoffs at Warner Bros. I'd like to ask about advertising trends you're seeing and maybe kind of advance this discussion a bit more. Warner Bros. Open casting calls are something of a tradition in the Wizarding World. Marvel's Guardians will star alongside Chris Hemsworth (Thor), Natalie Portman (Jane Foster/Mighty Thor), Tessa Thompson (Valkyrie), and Christian Bale (Gorr the God Butcher), among other new and. In all that we do, we are guided by three strategic pillars. View this post on Instagram We must get it right. 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. That is exactly what we see happening at HBO. And we are still in the early stages of bringing this comprehensive portfolio together and harnessing all that it can deliver. We've rightsized the content investments. Yes. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. So that is having some impact on us versus others that were -- that took a much bigger position in the upfront. Disclaimer: Audition free of cost for more information visit the respective official site. But that said, there's always going to be a place for quality content and we're open for business. Number three, evaluating capital allocation opportunities with rigor, so that we can both achieve near-term efficiency and enhance long-term asset value and growth. Well, one of the big advantages that we have, Brett, is that we have this diversity of content. It reminds me of my time at NBC when Thursday Night was must-see TV. Hello, everyone, and thank you for joining us. There's loads of content out there. Let me start with the second. And on the 2023. As expected, performance was negatively impacted by lower TV licensing revenues against a very tough comp last year, something well face again in the first quarter of 2023. It's about the sustainability and the longevity the free cash flow being delivered by that segment. I'm just wondering if you can talk about some of these assumptions. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. That's the power of curation. Warner Bros. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. Discovery The move is part of CEO David Zaslav's self-imposed mandate to find $3 billion in synergies between the two companies. Warner Bros. 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? Last year was a year of restructuring. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. If you have an ad-blocker enabled you may be blocked from proceeding. The Roku and the Tubi deal was really just a toe in the water, if you will, 14 channels, a beginning for us, but there'll be more to come as we go through the year, and we do want to have a bigger presence in that space because we do see consumer behavior continuing to shift and having a very robust amount of consumers around the world, who will want to consume ad-supported content. If you could share your view on those two impacts, that would be very helpful. One of them is off to a very good start. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. It's working. We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. - David Spade, 'Nothing Personal' 2022. And once we establish this funnel, then we can take things like the first season of succession or the second season. 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. J.B., anything to add to that? And I think our diversity, we have all these different assets that have -- that are different. Can you talk a little bit about the revenue outlook for D2C? 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. And at the end of the day, the consumer is at a point in time where they want more choice and better breadth of choice from fewer services, because they just don't have either share of wallet to be able to spending on five, six, seven services anymore. But curation, creating content at a time when people can watch it, creating a community conversation. For us, 2023 is a year of building. Our next question comes from Ben Swinburne with Morgan Stanley. Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. 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. 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. And so I think that is key to us in terms of building the long-term strength. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. David, maybe just to sort of wrap up that on the content side. 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. And then we ourselves will run our own fast service. And we're able to align our networks on a coterminous basis with these distributors. Thank you for attending today's presentation. Internationally, as I've said before, we look at our pricing is significantly under where we think the market is. You do not need to submit this form if you've already submitted to any casting. Photo: Kevin Dietsch/Getty Images. Naturally, and as I have said before, not all of these initiatives will come to fruition or get realized to the full extent, but this represents a significant pipeline for us as components of both near-term cost out and longer-term continuous improvement. I think it could and should be huge because it wasn't being pushed on. Discovery. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. But the digital inventory, which really held up in the fourth quarter has also softened. 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. The gaming business is all consumer product driven. 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. The Hogwarts game, we took several additional months to rework it, to get it right. Join the Fan Club and bring your traits with you. Kathleen is doing a lot of work, getting the enormous value of our library on screen. But -- and I know it's a tough question to put numbers around. We have an exceptional leadership team that is truly aligned across a common set of strategic, operational and financial goals and metrics. Though we are assuming that things will get better in the second half. 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. We've effectively done that now, but we had to take two different sales teams and pull them together. Discovery's Q4 Earnings Call. International, some areas actually trending up now, others still difficult. So I think this is an exciting time because I think we're really -- we made some tough decisions. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In Harry Potter and the Deathly Hallows, readers learned that Albus and Gellert were once friends, before becoming arch-rivals. Christian Zilko If you look at D.C., Harry Potter and Lord of the Rings, and then you take a look at Warner as a company without those three, okay? Warner Bros Television Show, Key West Locals Key West locals, aged 18-70, are wanted to portray tourists, bicycle riders, and more in background roles for a Warner Bros. television project.. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. We have a lot of points to be very excited about. Please. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. 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 we've got a time-tested approach to cross promotion, and we're adjusting that right now to the larger portfolio and the larger number of assets that we're promoting. 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. Delivering the latest news and official products from the Wizarding World and our partners. Our final question comes from John Hodulik with UBS. 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. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. And we hit this year with a full leadership team in place. And getting ready for our new launch. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. 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 But in order to do that, we took less volume than we could have. We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. 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. And now we're -- this year, you're going to see us fighting on DC. 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. Does that include any potential asset sales like nonstrategic asset sales? And we are excited for Mike and Pam to lead the studio into its next chapter, which in 2023, will see output more than double. Social media explodes and people are calling their family and friends to talk about what they saw. With me today is David Zaslav, President and CEO; Gunnar Wiedenfels, our CFO; and JB Perrette, CEO and President, Global Streaming and Games. Yes. 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, 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.. On Friday, AT&T handed off Warner Bros. to Discovery Inc. as part of a $43 billion merger. Warner Bros. And the response from consumers has been overwhelmingly positive. And back then, you had to watch the show on Thursday night. However, we remain very enthused about the trend line here, and I have greater and greater confidence in our ability to achieve our long-term segment targets of breakeven in the U.S. in 2024 and $1 billion of profitability in 2025 globally. . Just what should we expect in terms of '23 versus '22? Warner Bros. A year-over-year increase in corporate expenses were due to a number of factors, almost exclusively related to external market factors such as an incremental $120 million related to underlying rates on our securitization facility. October 27, 2022 THE LATEST Casting Lady Gaga Joins. And I'm very, very glad that we put out some targets in the summer of last year, and we were able to hit those targets. We see churn as a third important variable that historically has been relatively higher on the HBO Max product that with the two products coming together, that ultimately coming down is important. Chris Licht and the team are focused on building an asset for the long term across cable and digital that is worthy of that great global brand. 35 million people have watched episode 1 puts and takes impacting performance 27. Nothing Personal & # x27 ; ve already submitted to any casting full leadership that! Significantly under where we think the market is, there 's always going to clear. 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