Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 7

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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 Change% Change (ex-FX)Revenues:Distribution$2,329 $2,185 7 %8 %Advertising237 175 35 %35 %Content88 99 (11)%(7)%Other2 1 NMNMTotal revenues2,656 2,460 8 %9 %Costs of revenues, excluding depreciation and amortization1,824 1,895 (4)%(4)%Selling, general and administrative493 479 3 %4 %Adjusted EBITDA - Streaming segment339 86 NMNMDepreciation and amortization371 515 Restructuring and other charges12 2 Facility consolidation costs— 2 Impairment and amortization of fair value step-up for content47 102 Impairments and loss on dispositions3 5 Operating loss$(94)$(540)

Unless otherwise indicated, the discussion of percent changes below is on an ex-FX basis.

Revenues

Subscriber information consisted of the following (in millions).

March 31, 2025March 31, 2024% ChangeTotal Domestic subscribers157.6 52.7 9 %Total International subscribers164.6 46.9 38 %Total Streaming subscribers1122.3 99.6 23 %

1Streaming subscriber - We define a “Core Streaming Subscription” as: 

i.a retail subscription to discovery+, HBO, HBO Max, Max, or a Premium Sports Product (defined below) for which we have recognized subscription revenue, whether directly or through a third party, from a Streaming platform;

ii.a wholesale subscription to discovery+, HBO, HBO Max, Max, or a Premium Sports Product for which we have recognized subscription revenue from a fixed-fee arrangement with a third party and where the individual user has activated their subscription;

iii.a wholesale subscription to discovery+, HBO, HBO Max, Max, or a Premium Sports Product for which we have recognized subscription revenue on a per subscriber basis, including third-party services that host a branded environment of discovery+, HBO, HBO Max, Max, or a Premium Sports Product for which we have recognized subscription revenue on a per subscriber basis;

iv.a retail or wholesale subscription to an independently-branded, regional product sold on a stand-alone basis that includes discovery+, HBO, HBO Max, Max, and/or a Premium Sports Product, for which we have recognized subscription revenue (as per (i) –(iii) above