Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 79

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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 international discovery+ subscribers that are part of non-strategic partnerships or short-term arrangements as may be identified by the Company from time to time;

iii.domestic and international Cinemax subscribers, and international basic HBO subscribers; and users on free trials except for those users on free trial that convert to a Streaming Subscription within the first seven days of the next month as noted above.

Domestic subscriber - We define a Domestic subscriber as a subscription based either in the United States of America or Canada.

International subscriber - We define an International subscriber as a subscription based outside of the United States of America or Canada. 

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Global ARPU consisted of the following.

Three Months Ended June 30,Six Months Ended June 30,20252024% Change (ex-FX)20252024% Change (ex-FX)Domestic ARPU$11.16 $12.08 (8)%$11.16 $11.90 (6)%International ARPU$3.85 $3.85 — %$3.75 $3.80 — %Global ARPU2$7.14 $8.00 (11)%$7.12 $7.91 (10)%

Global ARPU decreased 11% and 10% for the three and six months ended June 30, 2025, respectively, primarily attributable to a 33% increase year-over-year in international subscribers. Additionally, global ARPU was negatively impacted by an 8% and 6% decrease in domestic ARPU for the three and six months ended June 30, 2025, respectively, primarily attributable to broader distribution of HBO Max Basic with Ads.

Content revenue decreased 21% and 15% for the three and six months ended June 30, 2025, respectively, primarily attributable to lower third-party licensing as a result of launching HBO Max in new international markets.

Costs of Revenues

Costs of revenues decreased 6% and 5% for the three and six months ended June 30, 2025, respectively, primarily attributable to lower domestic sports and content costs due to the timing of programming releases, partially offset by higher international content costs to support HBO Max launches.

Selling, General, and Administrative Expenses

Selling, general and administrative expenses decreased 10% and 4% for the three and six months ended June 30, 2025, respectively, primarily attributable to lower marketing costs. Additionally, the decrease for