Company: WBD
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437107-25-000216
Chunk: 126

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 126
---
996 $8,613 $14,609 Licensed content, live programming, and advances, net4,859 Game development costs, less amortization291 Total film and television content rights and games19,759 Less: Current content rights and prepaid license fees, net(655)Total noncurrent film and television content rights and games$19,104 

15

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

December 31, 2024Predominantly Monetized IndividuallyPredominantly Monetized as a GroupTotalProduction costs:Released, less amortization$2,948 $5,678 $8,626 Completed and not released794 767 1,561 In production and other1,700 2,008 3,708 Total production costs$5,442 $8,453 $13,895 Licensed content, live programming, and advances, net5,744 Game development costs, less amortization247 Total film and television content rights and games19,886 Less: Current content rights and prepaid license fees, net(784)Total noncurrent film and television content rights and games$19,102 Content amortization consisted of the following (in millions).Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Predominantly monetized individually$526 $1,624 $1,751 $3,300 Predominantly monetized as a group1,680 1,363 7,243 7,256 Total content amortization$2,206 $2,987 $8,994 $10,556 Content expense includes amortization, impairments, and development expense and is generally a component of costs of revenues on the consolidated statements of operations. Content impairments were $36 million and $99 million, respectively, for the three and nine months ended September 30, 2025. For the three and nine months ended September 30, 2024, content impairments were $145 million and $323 million, respectively.

NOTE 7. INVESTMENTS

The Company’s equity investments consisted of the following (in millions).CategoryBalance Sheet LocationOwnershipSeptember 30, 2025December 31, 2024Equity method investments:The Chernin Group (TCG) 2.0-A, L