Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 65

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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2025202420252024Streaming$2,793 $2,568 $5,449 $5,028 Studios3,801 2,449 6,115 5,270 Global Linear Networks4,803 5,272 9,577 10,397 Corporate1 1 1 2 Inter-segment eliminations (1,586)(577)(2,351)(1,026)Total revenues$9,812 $9,713 $18,791 $19,671 Reconciliation of Revenues to Segment Adjusted EBITDAThree months ended June 30, 2025StreamingStudiosGlobal Linear NetworksRevenues$2,793 $3,801 $4,803 Less: Content expense (a)1,600 2,135 2,105 Personnel expense (b)191 232 505 Marketing expense294 363 115 Other segment expenses (c)415 208 566 Segment Adjusted EBITDA$293 $863 $1,512 

28

WARNER BROS. DISCOVERY, INC.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