Warner Bros. Discovery Reports Streaming Profit as Linear TV Revenue Declines

The company added 6.4 million Max subscribers in Q4 2024, but overall losses widened due to challenges in the linear TV segment.

Warner Bros. Discovery's streaming segment posted a $409 million profit in Q4 2024, with a total of 116.9 million global subscribers after adding 6.4 million in the quarter.
The company forecasts its streaming business will reach 150 million subscribers by the end of 2026 and deliver $1.3 billion in profit in 2025.
Overall Q4 revenue declined 2% year-over-year to $10.02 billion, while the net loss widened to $494 million, partly due to $1.9 billion in acquisition-related charges.
The linear networks division saw a 5% revenue drop and a 17% decline in advertising revenue, driven by shrinking domestic audiences and a weakening U.S. linear TV ad market.
Max expanded its global reach in 2024, launching in 70 countries and planning further rollouts in Germany, Italy, and on Sky in the UK and Ireland by 2026.