Warner Bros. Discovery’s overall ad revenue dropped 7% last year. Its survival depends on its streaming service, Max, its lifeline in the intensifying streaming wars.
Warner Bros. Discovery is in a tight spot with double-digit TV ad revenue declines – and its core streaming service, Max, hasn’t picked up the slack … yet.
Netflix is licensing yet more content from the coffers of cable TV, while G/O Media is selling its portfolio for parts.
Streaming services still need new subscribers, but account growth alone isn’t enough to achieve profitability. Which may explain why they’re struggling to grow accounts and advertising revenue at the same time.
Warner Bros. Discovery lost 1.8 million global streaming subscribers this quarter, but streaming ad revenue is up 25% YOY, thanks to the merged company’s new streaming service, Max.
