Warner Bros. Discovery faced criticism for ending its long-standing TV deal with the NBA, but CEO David Zaslav defended the decision. He stated the company is transitioning to focus on its owned franchises, such as Harry Potter and DC Universe, which they can monetize better than sports content. Recent distribution agreements with Charter and Comcast allow WBD to increase revenue and stabilize its position, as they bundle the streaming service Max with cable offerings. The pivot signifies WBD's strategic shift towards leveraging its franchise assets in response to market dynamics.
"Not doing the NBA was a great decision for us," Zaslav said at a Morgan Stanley conference on Tuesday.
The company can monetize franchises it owns through content and merchandising, more than it can with sports.
WBD is pivoting to bolster its own franchises without the NBA, such as Harry Potter, Lord of the Rings, DC Universe, and Game of Thrones.
WBD's recent pay-TV deals with Charter and Comcast let those cable companies bundle Max with their services, effectively making it free for those subscribers.
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