Warner Bros Discovery's Max Now Has Nearly 100 Million Subscribers, Streaming Profit Up
Warner Bros. Discovery has reported results for the quarter that ended March 31 with Q1 total revenues totaling $9.95 billion. Global streaming subscribers were at 99.6 million at the end of Q1, up 2 million in Q4.
The company is the combination of Discovery, Inc. and AT&T's former WarnerMedia wing, and is just over two years old. The merging created a colossal pile of debt having WBD pay down $1.1 billion of it in Q1 2024 with $43.2 billion remaining. It also created some controversy in how some programming was being marketed towards which demos.
“We are pleased with our progress in the first quarter as evidenced by strong results in important KPIs. We delivered meaningful growth in our streaming business with a nice acceleration in ad sales, generating nearly $90 million in positive EBITDA for the quarter," David Zaslav, President and CEO of WBD said in a statement.
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