Warner Bros. Discovery Reports Strong Streaming Growth Amid NBA Rights Loss

Warner Bros. Discovery's direct-to-consumer division sees record subscriber growth, while the loss of NBA rights impacts future advertising revenue.

Warner Bros. Discovery's streaming service, Max, added 7.2 million subscribers in Q3 2024, reaching a total of 110.5 million globally.
The direct-to-consumer division posted a profit of $289 million, driven by international expansion and content from the Paris Olympics.
The company's overall revenue fell 4% to $9.6 billion, with a significant drop in studio revenue due to weaker box office performances compared to the previous year.
Warner Bros. Discovery is set to lose its NBA broadcast rights, which have historically boosted its advertising revenue during playoff seasons.
CEO David Zaslav emphasizes the company's strategic focus on streaming growth and international market expansion to offset traditional TV declines.