Company: WBD
Filing Date: 2025-12-09
Form Type: 425
Source: 0001193125-25-311838
Chunk: 11

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-09
Form: 425
Chunk 11
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.S. outside of the U.S., but it’s happening all over the world. John Christopher Hodulik UBS Investment Bank, Research Division And also maybe live events. Is that another area that obviously you’ve had a lot of success in live event – both sports and…? Theodore A. Sarandos Co-CEO,President & Director 100%. Even before the end of this year, we’ve got a couple of big ones with the Jake Paul fight coming up on the 19th of December, and then we’ve got the all day of NFL football on Christmas Day. And then we’re also ramping up our — this will be the first time next year that we do local live programming for outside of the U.S. Again, we took a couple of years, learned it, learned the technology, learned the taste. Remember, it’s limited. It’s a good investment. But because of the time zone, it’s limited in its footprint. And I think by doing more local live programming, you get the benefits locally. We saw it a lot in the Canelo Crawford fight was huge in Mexico for us outside of the U.S. as well. But once you get pretty far out of the time zone, people are sleeping. So that’s why we’ll grow that. Gregory K. Peters Co-CEO,President & Director We’ll do World Baseball Classic in Japan, which I think should be super exciting and... Theodore A. Sarandos Co-CEO,President & Director Women’s World Cup Gregory K. Peters Co-CEO,President & Director Women’s World Cup. And so you see the synergistic effects of the other parts of our business around like advertising as well. So we feel it has that, that flywheel effect. John Christopher Hodulik UBS Investment Bank, Research Division Exactly that’s a good pivot to advertising. It seems like the company upticks on advertising this quarter saying it will be more than double this year. What’s driving that? And what does the Warner Bros deal do for that revenue Gregory K. Peters Co-CEO,President & Director

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NETFLIX, INC. COMPANY CONFERENCE PRESENTATION - PRELIMINARY COPY DEC 08, 2025 Yes. We’re seeing great trajectory, which we’re super excited about it. You mentioned the more than doubling. At the end of the day, we’re giving advertisers what they need, which is increasing reach. We’re giving them more capable platform in terms of targeting