Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 151

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 151
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.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

Three months ended June 30, 2024StreamingStudiosGlobal Linear NetworksRevenues$2,568 $2,449 $5,272 Less: Content expense (a)1,699 1,532 1,965 Personnel expense (b)201 231 566 Marketing expense353 268 115 Other segment expenses (c)422 208 628 Segment Adjusted EBITDA$(107)$210 $1,998 Six months ended June 30, 2025StreamingStudiosGlobal Linear NetworksRevenues$5,449 $6,115 $9,577 Less: Content expense (a)3,104 3,474 3,937 Personnel expense (b)377 462 1,001 Marketing expense514 615 219 Other segment expenses (c)822 442 1,115 Segment Adjusted EBITDA$632 $1,122 $3,305 Six months ended June 30, 2024StreamingStudiosGlobal Linear NetworksRevenues$5,028 $5,270 $10,397 Less: Content expense (a)3,266 3,482 3,808 Personnel expense (b)393 471 1,114 Marketing expense642 557 203 Other segment expenses (c)748 366 1,155 Segment Adjusted EBITDA$(21)$394 $4,117 (a) Content expense includes amortization, impairments, participations, residuals, development expense, and production costs, including talent costs, and is a component of costs of revenues. Content expense excludes content impairments and other development costs recorded in restructuring and other charges, amortization of purchase accounting fair value step-up for content, and amortization of capitalized interest for content as these items are excluded from the calculation of Adjusted EBITDA.(b) Personnel expense is a component of costs of revenues and selling, general and administrative expense. Personnel expense includes marketing personnel compensation and excludes commissions (included in other segment expenses) and talent costs (included in content expense).(c) Other segment expenses include distribution costs, other direct costs, software and hardware costs, IT services, professional and consulting fees, commissions, and certain other overhead costs. Other segment expenses exclude depreciation and amortization, amortization of purchase accounting fair value step-up for content