"Sure, the company had nine consecutive theatrical releases open at No. 1 at the box office, 30 academy award nominations and 131.6 million global streaming subscribers. However, WBD's total revenue still declined 5% last year to $37.2 billion in 2025. The company blamed this on poor comparisons to the 2024's Paris Olympics content licensing deals in global markets, and on declines in domestic TV audiences."
"Both distribution and advertising revenue were adversely affected by declines in domestic linear TV subscribers, per the earnings statement WBD released on Thursday morning. In particular, advertising revenue was down 7% to $1.7 billion in Q4, and down 10% to $7.3 billion for the full year."
"Accounting for those NBA headwinds, there's been "some real health in terms of underlying audience deliverability," Chief Financial Officer Gunnar Wiedenfels told investors on the company's earnings call. "We can see some real stability, potentially, even a little bit of growth in ad sales going into 2026," Wiedenfels said."
Warner Bros. Discovery experienced a paradoxical year in 2025, delivering impressive content achievements including nine consecutive No. 1 theatrical releases, 30 Academy Award nominations, and 131.6 million global streaming subscribers. Despite these accomplishments, the company's financial performance deteriorated, with total revenue declining 5% to $37.2 billion. The decline stemmed from unfavorable comparisons to 2024's Paris Olympics content licensing deals and reduced domestic television audiences. Q4 revenue fell 6% year-over-year to $9.5 billion, marking the third consecutive quarterly decline. Advertising revenue particularly suffered, dropping 10% annually to $7.3 billion, partly due to losing NBA broadcasting rights to NBCUniversal. The Discovery division's underperformance appears to be the primary revenue drag. Management remains optimistic about 2026, citing underlying audience strength and potential advertising growth despite current headwinds.
#warner-bros-discovery-financials #streaming-subscriber-growth #advertising-revenue-decline #television-audience-loss #media-industry-earnings
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