NEW YORK—In its Q1 2024 earnings report, Warner Bros. Discovery continued to see growth in its streaming operations, adding 2 million streaming subs in Q1 2024 and reporting improved profits. But it reported lower than expected company-wide revenue and profits as its traditional TV and studio businesses continued to decline.
“We delivered meaningful growth in our streaming business with a nice acceleration in ad sales, generating nearly $90 million in positive EBITDA for the quarter,” said David Zaslav, president and CEO. “We will soon be rolling out Max to 29 countries across Europe, and the content lineup for Max over the coming year is one of our strongest ever. Warner Bros. Pictures also had a strong start to the year as the first studio to reach $1 billion in both overseas and global box office, and they have a great slate in the works. Importantly, we once again delivered strong free cash flow, even in our seasonally weakest FCF quarter.”
