Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 32

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 paid(3)(24)(26)(27)(80)March 31, 2025$40 $66 $93 $63 $262 

NOTE 4. REVENUES

The following tables present the Company’s revenues disaggregated by revenue source (in millions).Three Months Ended March 31, 2025StreamingStudiosGlobal Linear NetworksCorporate and Inter-segment EliminationsTotalRevenues:Distribution$2,329 $1 $2,558 $(2)$4,886 Advertising237 1 1,758 (16)1,980 Content88 2,139 380 (741)1,866 Other2 173 78 (6)247 Total$2,656 $2,314 $4,774 $(765)$8,979 Three Months Ended March 31, 2024StreamingStudiosGlobal Linear NetworksCorporate and Inter-segment EliminationsTotalRevenues:Distribution$2,185 $5 $2,797 $(2)$4,985 Advertising175 4 1,987 (18)2,148 Content99 2,623 264 (428)2,558 Other1 189 77 — 267 Total$2,460 $2,821 $5,125 $(448)$9,958 Contract Liabilities and Contract AssetsThe following table presents contract liabilities on the consolidated balance sheets (in millions).CategoryBalance Sheet LocationMarch 31, 2025December 31, 2024Contract liabilitiesDeferred revenues$1,600 $1,569 Contract liabilitiesOther noncurrent liabilities210 206 For the three months ended March 31, 2025 and 2024, respectively, revenues of $677 million and $772 million were recognized that were included in deferred revenues as of December 31, 2024 and December 31, 2023, respectively. Contract assets were not material as of March 31, 2025 and December 31, 2024.

12

WARNER BROS. DISCOVERY, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

Remaining Performance ObligationsThe following table presents a summary of revenue expected to be recognized from remaining performance obligations by contract type (in millions).Contract TypeMarch 31, 2025DurationDistribution - fixed price or minimum guarantee$2,279 Through 203