No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. The product will offer compelling content for every member of the household. Yes. In recent weeks, we signed new deals with a number of the most prolific and celebrated creatives in the industry, including Greg Berlanti, Baz Luhrmann, M. Night Shyamalan, Akiva Goldsman and Zach Cregger with more to come. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. Q4 revenues decreased 9% year-over-year, while adjusted EBITDA decreased 2%, helped by a reduction in consolidated SG&A by 22%, a bit more than we guided to. And now we're -- this year, you're going to see us fighting on DC. Interestingly, the actor cast as the titular character, Austin Butler, isn't the most well known, and audiences will probably know him best as the Manson family member Tex Watson in Once Upon A Time In Hollywood . Is there -- what are you considering? Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. The Warner Bros. Television Workshop is the premier program for new writers and. Q4 revenue growth of 6% against the 12% decrease in combined operating expenses led to a significantly reduced EBITDA loss of roughly $200 million, a $500-plus million improvement year-over-year, notwithstanding a largely content-driven 6% increase in cost of revenue. Is that -- it sounds like you guys have, on the one hand, a lot of new programs, a lot of new movies and a lot of new initiatives; but at the same time, pulling some content on the floor. You may now disconnect. 3 min read. The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. Discovery's Q4 Earnings Call. It reminds me of my time at NBC when Thursday Night was must-see TV. We'll definitely -- we're definitely planning for revenue improvement. Discovery Second Quarter 2022 Earnings Call. Warner Bros. 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. Our next question comes from Michael Morris with Guggenheim Partners. We can take you into the theater around the world. Revenue decreased 6% as global advertising revenues declined 14% and distribution revenues decreased 2%. Is there any of your content that's definitely off the table to be included in that service? Her Barbie looks like a version of Robbie's Sharon Tate, or. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . Warner Bros. Television Group has more than 110 shows currently in production across our own platforms as well as third-party broadcast, cable and streaming outlets, including Emmy Winners, Ted Lasso and Abbott Elementary. An open casting call has gone out for three actors between the ages of 13 and 16 to play young versions of Newt, Leta, and another character called Sebastian. Please. We work, grow and create world class content in one of the biggest, busiest studio lots in the industry, as well as at countless studios, sets and offices around the globe. All U.S. extremist mass killings in 2022 linked to far right, . And on the 2023. We see price as a very important second part. While every applicant will be considered, only those passing the initial consideration round will be contacted. August 4, 2022 04:30 PM ET. I think it could and should be huge because it wasn't being pushed on. WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. We believe that when you have content that is so good that it hits the gist. You're going to see us fighting at Warner Bros. on the Motion Picture side, in order to really -- I think there's a huge opportunity on the Warner Bros. Motion Picture side for investment in quality content and storytelling. HBO has never been stronger and is firing on all cylinders behind the recent successes of HBO Originals, Euphoria, House of the Dragon, White Lotus, and our newest mega hit, The Last Of Us. 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. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. Warner Bros. didn't even have the courtesy to give the "Batgirl" cast and creative team a bat signal that their movie was being locked away in Arkham. Open casting calls are something of a tradition in the Wizarding World. I mean, pot levels in the industry, I think, were down 14% in the quarter. Faith Wood-Blagrove beat thousands of other young actresses to the role of Modesty in Fantastic Beasts, and Evanna Lynch was chosen for the part of Luna Lovegood out of 15,000 other young women following open casting in 2006. But I always would err toward price, because I think that's where you really build asset value. 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. 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. Discovery CEO David Zaslav's plan to combine HBO Max and Discovery Plus into a single streaming . And I believe in that, having been in this business for 30 years, I think in order to really drive asset value, you need to drive price. So we do see subscriber scale as one part of the revenue growth story. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. But the key to this company is, as a storytelling company, we have this diversity. Discovery advantage. We're committed to creating shows that people really want to watch, and they also want to experience them with other people. In addition to less activity in home entertainment, given the leaner theatrical release schedule in 2022, which was very much a result of deliberate decisions we made about specific titles and overall release dates. Content alone is really only half of the equation. And HBO is streaming's new must-see TV with all of its cultural impact and excitement. December 13, 2021. And so we want to optimize that as a unified strategy for the company. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. And the good news is we've had a real chance to look at content on each of the platforms over the last two years. 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. Well, look, for us, the market right now, our focus is building a best-of-class product and putting all of our content together and so that it's easy to consume and that people are aware of all the different content that we have. 4 talking about this. Look, I mean on the content spend, Remember, all our strategy changes leading to the content restructuring and write-offs over the course of last year, obviously, that's going to flow through cash as well as we adjust. 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. We've heard the word curated. Discovery in April last year. And so we were able, in many ways, to Monday morning quarterback. Hello, everyone, and thank you for joining us. So I think that's something that's really resonating with the creative community that their content is seen, it's curated and it's elevated and that's part of the cultural conversation, both in the theater and on the platform. Good afternoon, and welcome to Warner Bros. The Last Of Us, for example, grew its Sunday premier night viewership by about 1 million with each episode over the first 4 weeks. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. So a lot to be looking forward to. The film is set decades before Harry Potters adventures at Hogwarts, and marks an increasingly dark time for the wizarding world. 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. Wizarding World is the new official home of Harry Potter & Fantastic Beasts. We took bold decisive action over the last 10 months and the bulk of our restructuring is behind us. I'd like to ask about advertising trends you're seeing and maybe kind of advance this discussion a bit more. And so we'll keep in mind this balance of volume versus price. 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. And I think you're going to see a big difference that when we release something, it's going to be a product that we think is the best it could be. China said on Monday (local time) it sought dialogue and peace for Ukraine despite US warnings that Beijing might be considering weapons supplies for its ally Russia's bogged-down invasion. Young Sheldon, network TV's #1 comedy. And that gives us real optionality in terms of nourishing audience for growth and for reduction in churn and for overall price value. There's loads of content out there. The other point that is front or set up for us is curation. And when you tell them a great story and they get to experience it with others, either in a packed theater or on a Sunday night, it really is magic. The studio is the flagship producer of live-action feature films within Warner Bros. Warner Bros. 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. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . In terms of the market itself, it's -- as I've said before, it's not a good environment. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. 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