All the meetings that I've had in the last two weeks are about great content that we're producing, meeting with creatives that want to come here, how we -- what more shows are we going to be selling, what more shows are we going to be keeping on our platform? The only other thing I'd add, Ben, is for us, it's not just a question of subscriber scaling. Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. In today's increasingly dynamic and a crowded media environment, the best hand has great storytelling IP, brilliant creatives, a full slate of production and distribution capabilities, and broad global reach that stretches across premium, pay TV, free-to-air, theatrical, streaming, licensing and gaming, the entirety of the ecosystem, and that is exactly the hand that we have, and we intend to play it decisively and with a focus on free cash flow and an eye towards sustainable future growth. And later down the road, we're also obviously going to start looking at new market launches, again. That's the power of curation. The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . And we're curating now in a way that's having an impact on America. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. And we don't yet have, we think, a strong enough position in that market. No, I was just going to say that as David has said before, I think the industry obviously was at a scale at any cost. We'll do a full presentation on April 12, which will lay out this significantly improved product, the launch, what will be on it. Webcast. And for us, DC alone will be -- could and should be a game changer. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. But we -- I believe that we have an overwhelming advantage in the marketplace with the IP that we own, but to take -- to get that advantage, we have to create great content with that IP. More details on the decision to have Wonder Woman 1984 debut in theaters and on HBO Max at the same time have been revealed, and it turns out there's a good reason for handling the sequel this way. We will always be a little lower maybe than sort of a pure-play D2C product just because of the HBO linear trends that are baked into our revenue number. Our strategy is no sub left behind. And so effectively, whether you want to look at content for free, you want to look at with edge, you want to look at you want a premium that we -- you would have all that opportunity with us, and it makes sense because we have the largest TV and motion picture library in the world. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. A year-over-year increase in corporate expenses were due to a number of factors, almost exclusively related to external market factors such as an incremental $120 million related to underlying rates on our securitization facility. We have profitable subscribers that are very happy with the product offering of Discovery+, why would we shut that off. Naturally, we are laser-focused on delevering the balance sheet, where I see net leverage very comfortably inside of 4x by the end of 2023 and reiterate our prior guidance to be within the investment grade range by mid-2024 and within our gross leverage target of 2.5x to 3x by the end of 2024. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . Gunnar will take you through all of the financials in our outlook, but I'm very pleased that we see our net leverage clearly below 4x by the end of this year, below 4x by the end of this year. 2023 will be a year of building and off we go. Discovery in which we took some pivotal initial steps. Among them, the integration and repositioning of our global finance organization through which we implemented a number of initiatives to drive efficiency and better support the company's long-term sustainable growth. The Hogwarts game, we took several additional months to rework it, to get it right. And getting ready for our new launch. The film is set decades before Harry Potters adventures at Hogwarts, and marks an increasingly dark time for the wizarding world. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. And we take that across film, TV and even to sell to third parties, because we have something, we have a treasury that no one else has. We met with 186 of the top leaders in -- for a week in early January. And then for Gunnar or JB, can you maybe just expand upon your fast strategy and why you chose to do the deal with Roku and Tubi and maybe how that might impact the launch or timing of your own fast service? Open casting calls are something of a tradition in the Wizarding World. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. It was a heavy lift to bring 2 teams together, notwithstanding the economy being what it was, and we are now drilling down on all facets of the business. We've gone through a couple of the puts and takes here. We have full command and control of our business, and we are one company now. To participate in the Warner Bros. Of course, the other stipulations include being "willing and available" to film for the duration of the series which could be as long as 12 weeks and will commence around mid-June to mid-August of 2021. Yes. We are committed to continue executing our strategic initiatives to drive top line performance and with much repositioning behind us, we are beginning to fully lean into the opportunities ahead of us. And so you put the Discovery+ and HBO Max proposition together at a great value, and we think we deliver something that ultimately has something for everybody in the household, which will help us on scale and help us on churn, which are the two major ingredients we're focused on as well as obviously engagement. Thanks, Ben. Q&A session is now closed, which concludes today's conference. John Oliver poked at HBO's parent company, Warner Bros. Social media explodes and people are calling their family and friends to talk about what they saw. Or is that something that might fuel that service? Clearly, as we have pointed out as a key risk since the summer, underlying advertising trends, particularly in the U.S., have continued to soften through the fourth quarter, and that was further exacerbated by general entertainment audience declines. Yes. Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . We have Channing and her team right now with the #1 or #2 show on almost every platform in America where we're selling to all of our -- to our peers in the business. The creative co-lead and co-chairman of DC Studios have confirmed the entertainment studio is separate from Warner Bros. Pictures Group As per CBR via the social news aggregate website, Reddit . But just as you think about the impact of DC sort of fully realizing the opportunity over the next 5-plus years, what could that mean to Warner Bros. Number four, driving overall efficiency and free cash flow conversion towards our near-term goal of 1/3 to 1/2 conversion of adjusted EBITDA with longer-term upside towards our 60% goal. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. John Oliver in season nine of "Last Week Tonight With John Oliver." Paula Lobo/HBO. And I think our diversity, we have all these different assets that have -- that are different. So that storytelling IP. So I was hoping you could just give us your most updated thoughts, so we kind of have that framework for assessing the new product when you rolled out on April 12. Nov 3, 2022 2:02pm PT Warner Bros. The Roku and the Tubi deal was really just a toe in the water, if you will, 14 channels, a beginning for us, but there'll be more to come as we go through the year, and we do want to have a bigger presence in that space because we do see consumer behavior continuing to shift and having a very robust amount of consumers around the world, who will want to consume ad-supported content. Partially offsetting revenue headwinds were lower content expenses, distribution fees and marketing costs. And there's lots more to come including the highly anticipated Mortal Combat 12 and Suicide Squad - Kill The Justice League, games also set for release this year with ambitious launch projections. On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - March 10, 2022 684 0 Advertisements On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice Advertisements Based on the traction we are seeing across the broad spectrum of operational and financial KPIs, we expect segment EBITDA to be more or less breakeven in Q1, which implies another $500 million improvement year-over-year, roughly in line with the improvement seen in Q4. No question about that. And the best thing that we have going for us right now is all of that hard work that we did, and it was probably two years of work that we did in 10 months, it's now almost -- it's overwhelmingly behind us. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. We have a lot of points to be very excited about. #inclusion #performerswithdisabilities #Disabilityawareness She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. The game was 1 of the most highly anticipated of 2023. So we're excited about the fact that we're going to take all of the Discovery content and put it together with the HBO Max content in a much better platform. How much do you feel like is more reflective of some of the underlying trends that just have to do with ratings declines or core cutting and those types of trends? Don't forget the 12+ hour blocks of five year old movies every weekend. But that said, there's always going to be a place for quality content and we're open for business. We are already seeing a more inclusive range of voices and viewpoints, as demonstrated last month, when over 70 Republicans came on our air during their Congressional speaker election process, a first in a very long time, and we intend to continue advancing on this balanced strategy. This is some of the most recognized and beloved storytelling IP in the world, and we're excited to tell even more of those stories. It's about telling the best story. And we're doing it in a very tasteful way by putting it on the very front end. People want to be part of something. company's most recent annual report on Form 10-K and its reports on Form 10-Q and Form 8-K. with that, I am pleased to turn the call over to David. We also signed fast content deals with Roku and Tubi, adding to these popular platforms, hundreds of our TV shows and movies, while maximizing the reach and overall value of our content. Discovery. So I think we're very well positioned. As expected, performance was negatively impacted by lower TV licensing revenues against a very tough comp last year, something well face again in the first quarter of 2023. Thank you for attending today's presentation. Warner Bros. J.B., anything to add to that? International markets continue to perform relatively better, stronger markets such as Poland and Italy were in part offset by weaknesses in the UK, Nordics and certain Latin American countries. Thank Sure. Reportedly Cancels 'Wonder Woman 3' Warner Bros. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. The television studio is the latest arm of Warner Bros Discovery forced to make cuts in order to save at least $3 billion after the merger overseen by David Zaslav. Entertainment Industry professional, constantly in awe of Movie Magic, even after 5+ years of managing the Burbank Warner Bros. filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID Some are advertiser-driven. Discovery Cuts Scripted Programming at TBS, TNT. There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. David, maybe just to sort of wrap up that on the content side. Our next question SP1 Comes from Robert Fishman with SVB MoffettNathanson. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. We reduced EBITDA losses by $500 million year-over-year to $200 million in Q4, supported by 1.1 million net sub adds in the quarter. Starting with the Studio segment. We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. On the advertising side, it's kind of a complex answer. During the WBD quarterly earnings call, Zaslav . We have a lot of motion picture content that we're reworking and making a lot of progress with. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. The dreaded post-merger Warner Bros Discovery layoffs have reached the programming operation overseen by HBO and HBO Max Chief Content Officer Casey Bloys. On the 12th, we'll lay out to you, we have a clear attack plan, where we'll drive this really across the country and into markets around the world with conviction. And that is what all great talent wants. We're also excited for the release of 4 DC films this year, starting with Shazam in 2 weeks and followed by The Flash, which James Gunn called 1 of the greatest superhero movies ever made, a masterpiece. And we've lapped that now, and we're seeing some growth now. The Warner Bros. Television Workshop is the premier program for new writers and. That said, there's still more that we need to get right and we are hard at work. You also hear a bigger discussion around how you decide when something should be exclusive to your platforms and when maybe you should be licensing. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. Discovery. The market is -- the macro environment is very challenging. But curation, creating content at a time when people can watch it, creating a community conversation. I remain very optimistic about the range of potential outcomes in 2023 and beyond. We can put you on HBO on a Sunday or Monday night, where it's must see streaming TV or we could have to we've launched your movie. I'll just take a swing at it, Gunnar, you can follow. Overall, 14% of . It comes after HBO and HBO. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. Elvis is a 2022 biographical drama film directed by Baz Luhrmann and written by Luhrmann, Sam Bromell, Craig Pearce, and Jeremy Doner.It follows the life of the American rock and roll singer and actor Elvis Presley, told from the perspective of his manager, Colonel Tom Parker.It stars Austin Butler as Presley with Tom Hanks as Parker, while Olivia DeJonge, Helen Thomson, Richard Roxburgh . . Two questions. Cast: Dwayne Johnson, Keanu Reeves, Joh Krasinski, Kate McKinnon, Natasha Lyonne, Kevin Hart, Diego Luna, Jameela Jamil, Vanessa Bayer, Marc Maron About: Krypto the Super-Dog (Johnson) and Superman (Krasinski) are inseparable best friends, sharing the same superpowers and fighting crime in Metropolis side by side. The forward-looking statements include comments regarding the company's future business plans, prospects and financial performance. The studio is the flagship producer of live-action feature films within Warner Bros. Operator. Moreover, we're analyzing our pricing strategy in a number of key international markets, particularly in LatAm, where we believe our service has significant pricing upside. Storytelling content is most powerful when you're watching it and then you're with others, either in a theater, or you're able to talk about it either online or with your friends, that's the power of content, not when you're viewing content alone. If all else fails, take your mother's advice - if it seems too good to be true, it probably is. And it is shared -- the platform itself for Discovery+ will be a shared platform. And where does the WBD fit in that? Naturally, our domestic relaunch of the combined product offering in the spring will result in a sequential step-up in P&L investments in Q2 behind a requisite increase in marketing spend support and premier content launches. Discovery's Q4 Earnings Call. And it all stems from great storytelling. WIZARDING WORLD Publishing and Theatrical Stage Rights J.K. 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