And we have high hopes for all of these metrics after the combined product launches to further improve. Gunnar? Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. I think it could and should be huge because it wasn't being pushed on. Looking for Pottermore? Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. I think the focus for many of us is usually each company's top profitability, but maybe there's not enough attention to the fact that each of these moves could have pretty dramatic impacts to the industry and competitive landscape. So I think this is an exciting time because I think we're really -- we made some tough decisions. 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. Turning to consolidated results and free cash flow. Echoing some of what David said, the leadership team is ever more aligned on strategic decision-making that benefits the company as a whole versus one segment or another and is incentivized as such. We have a great hand and we're doing a lot right. ET Follow HBO Max Go to Site Follow HBO Go to Site Follow Warner Bros. Go to Site Follow HGTV Go to Site Follow Discovery Go to Site Follow discovery+ Go to Site Follow CNN Go to Site Follow TBS Go to Site Follow Food Network 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. Discovery CEO David Zaslav wants to redeem his predecessors' failure to rival Disney with its library of intellectual property through an unprecedented focus on tentpole events. Warner Bros. Though we are assuming that things will get better in the second half. Is that something you're able to comment on now? We can take you into the theater around the world. But I also think we're very well positioned to grow from here. This is one team now. 7,362 Followers, 2,443 Following, 99 Posts - See Instagram photos and videos from Warner Bros. Apply Here: NickOnlineOpenCall.nick.com Parents/guardians please email: NickOnlineOpenCall@nick.com for more info. We're spending time with him and Peter and he had a vision for DC that we are all in on and believe in. Last year was a year of restructuring. I'm just wondering if you can talk about some of these assumptions. We expect 2023 pro forma adjusted EBITDA to be in the low to mid $11 billion range, representing growth of low to mid-20%, against pro forma adjusted EBITDA of $9.2 billion in 2022. Discovery and sort of the earnings power of the organization? 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. No. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. And Ben, on the D2C question, let me start with the revenue side of it. And in fact, we're -- we use news and sports quite effectively in Europe, and we've learned a lot about when it does work and when it doesn't. Importantly, we successfully completed affiliate renegotiations, which accounted for more than 30% of U.S. distribution revenues and which brought our portfolio together coterminously. For us, 2023 is a year of building. And we were able in the upfront to drive price significantly more than all of our peers. These outcomes will reflect an incremental $2 billion of synergy and transformation efficiency capture, while additional puts and takes to consider include positive revenue inflection in D2C, the broader release slate at Warner Bros. Pictures and Games, balanced by cyclical advertising headwinds. Discovery, we believe we have the strongest hand in the industry, with the most complete portfolio of assets and globally renowned franchises, personalities and storytelling IP, across sports, news, nonfiction and entertainment, in virtually every region of the globe and in every language. But we'll take you through what that plan is and how we intend to do it on the 12th, but well locked and loaded. But I always would err toward price, because I think that's where you really build asset value. Today, with direct-to-consumer, more and more people are joining the party. I have one for David and then one for J.B. or Gunnar. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. There hasn't been a stand-alone Superman movie in a decade. Note that merger and integration-related cash costs totaled nearly $150 million in Q4 and nearly $800 million for the year, in addition to a nearly $350 million headwind from securitization and factoring since the closing of the deal in early April. As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. And my second question is about this pending relaunch MAX product. And with that, I am pleased to turn the call over to David. 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 . Netflix Reality Series Audition 2023 Casting Calls. As you look out to '23, I think Gunnar kind of touched on some of the potential tailwinds, but it sounds like you're walking away from close to $12 billion in EBITDA to maybe low to mid-$11 billion in EBITDA. We've accomplished a significant amount in 2022, and I'd like to take this opportunity to thank the entire finance team for their persistence and resolve in working through these very difficult but necessary first steps, which has resulted in greater command, control and precision across the enterprise and laid the foundation on which we are positioning the company. 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. The sentiment is not terrific. Yes. Gunnar and the team are laser-focused on driving transformation throughout the organization, supporting our ability to further generate real free cash flow. I'd like to ask about advertising trends you're seeing and maybe kind of advance this discussion a bit more. More Earnings Resources from MarketBeat Earnings Tools: Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance And so we're feeling more and more confident about that. Batman Day - September 17, 2022. And together, we are focused on making our businesses better and stronger. The biggest unknown continues to be in the ad sales environment. 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. And that is the culture here at 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. [Operator Instructions] Our first question comes from Jessica Reif Ehrlich with Bank of America. 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. Studio Tour Hollywood invites you to celebrate the enduring legacy of the iconic Super-hero on Batman Day, Saturday, September 17, 2022. . media commentator focused on TV Production, Consumer Tech, SVOD & Sports Broadcasting . HBO and HBO Max Hit with 70 Layoffs at Warner Bros. We're assuming that. That HBO Max, whatever we call it on the launch, is a product that we take around the world and that has a real impact on how people consume content. It's just too early to really call a trend change here. The game was 1 of the most highly anticipated of 2023. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. We continue to expect to convert 1/3 to half of EBITDA into free cash flow, as I stated earlier, with the key determinants and drivers of growth being the magnitude of EBITDA, net cash content spend, the impact of working capital initiatives, and the timing and magnitude of a trend change in the advertising market. Everybody has a strategic focus on improving free cash flow, market share for each of the businesses. We got to take those swings. 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. An unrepentant Zaslav turned up on Thursday to bask in the afterglow of positive quarterly financials: $6 billion in debt repaid since the merger, a combined 1.7 million new subscribers to HBO Max . The efforts ongoing enterprise-wide are helping to turn the flywheel and grow and improve our businesses, and we see so much opportunity ahead. 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. "This promises to be a very exciting year for our company," he told investors during the company's Q4 earnings call . And regarding the linear affiliate renewals, as we've said a couple of times that we're very happy with how those discussions went, is a clear testament to the importance and the value that our network portfolio is delivering to our affiliates. And the newest hits, Night Court on NBC and Shrinking on Apple TV. And we hit this year with a full leadership team in place. Warner Bros. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. Two questions. And we don't yet have, we think, a strong enough position in that market. We are also advantaged by the fact that our U.S. networks average 30% of all nightly cable viewers in the key 25 to 54 demo. And I'm very, very glad that we put out some targets in the summer of last year, and we were able to hit those targets. BURBANK, Calif. Due to the unprecedented global pandemic caused by the novel Coronavirus, Warner Bros. Television's Casting department launched a unique virtual "Actors in Training" initiative this summer designed to connect the Studio with emerging actors who may have had their final year of dramatic training curtailed or negatively impacted Discovery's Q4 Earnings Call. And having some of that content appear on our platform and sell it nonexclusively to others is very economically beneficial. Content alone is really only half of the equation. With respect to the cadence of free cash flow, as is historically the case for both legacy Discovery and WarnerMedia, Q1 free cash flow will represent the low point for the year given the timing of sports rights payments, timing of content outlays and cash interest payments on a large portion of the acquisition debt. This information is only for educational purposes use. And while we are comping the Winter Olympic Games in Q1, which we expect will account for roughly 100 basis point headwind to our global advertising growth rate, we see underlying international trends modestly improving. And to that point, I have no doubt that we have years and years of that coming our way. Warner Bros. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. If you look at D.C., Harry Potter and Lord of the Rings, and then you take a look at Warner as a company without those three, okay? We can put that down on our AVOD service. #inclusion #performerswithdisabilities #Disabilityawareness The poor actors and directors of the . And one of the tenets is we're not going to launch any content before it's time. is looking for PAID EXTRAS for a new series on THE CW based on DC Comics series "NAOMI" that will be filming here in Atlanta, GA. 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. And our new studio heads are hard at work putting their unmatched creative stamp on our future slate. Let me start with the second question. The 99-year-old movie studio, home to Harry Potter, Batman and Bugs Bunny, will now head in a. Warner Bros. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. And so I think that is key to us in terms of building the long-term strength. Warner Bros. Required fields are marked *, Warner Bros.-Seven Arts, Inc.(19671970), Toby Emmerich(Chairman, Warner Bros. Pictures Group), Walter Hamada(President, DC-based Film Production), studiofacilities.warnerbros.com/studio-operations-inquiry-form/. Warner Bros. Discovery's earnings are expected to grow from $0.97 per share to $1.79 per share in the next year, which is a 84.54% increase. And so we are a storytelling company. Casting call: Warner Brothers feature film "The Curious Incident of the Dog in the Night-Time" by admin Seeking a neurodivergent actor to play lead role The Curious Incident of the Dog in the Night-Time is a Warner Bros. feature film expected We have the largest maker and seller of content in the world, and while we've got lots more to do, we are increasingly seeing positive traction and strong proof points. 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. We want to tell the best stories, share them with the broadest audience possible, and we do that by working together as 1 team, 1 company. 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. We've rightsized the content investments. Yes. And we're able to align our networks on a coterminous basis with these distributors. And back then, you had to watch the show on Thursday night. Warner Bros. Warner Bros. I'll just take a swing at it, Gunnar, you can follow. Marvel's Guardians will star alongside Chris Hemsworth (Thor), Natalie Portman (Jane Foster/Mighty Thor), Tessa Thompson (Valkyrie), and Christian Bale (Gorr the God Butcher), among other new and. Discovery advantage. Sorry, Robert. There have been some media reports a few weeks ago that you were going to actually keep Discovery as a standalone product. Keep one thing in mind, the entire last year was impacted by this headwind from coming off of Amazon. Please disable your ad-blocker and refresh. DC Comics. It reminds me of my time at NBC when Thursday Night was must-see TV. There are some opportunities that I'm looking at below deck as we say, but none of that would be baked into this leverage guidance. However, we remain very enthused about the trend line here, and I have greater and greater confidence in our ability to achieve our long-term segment targets of breakeven in the U.S. in 2024 and $1 billion of profitability in 2025 globally. It's not about getting it out quick. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. Casey and the team continue to fuel critical and audience acclaimed with globally resident content, driving improvements in engagement and churn, which is setting up a nice tailwind into the relaunch. Use the form below to submit your basics and we'll reach out to you when the next big film casts! 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. 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 brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. In every country, they'll leave dinner and they got to go home to view that product that they love. Taking a step back here, though, I mean, the reason why -- one of the reasons why we carved out the linear business, the network business is, one, separate segment is to be completely transparent about where those trends are moving. The 50 Best Movies of 2022, According to 165 Critics from . This company is found in the years 1923. During the WBD quarterly earnings call, Zaslav . And getting ready for our new launch. This company every year give up the chance for new talents. 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. Our next question comes from Kutgun Maral with RBC Capital Markets. W arner Bros. Pictures and the filmmakers behind the Fantastic Beasts sequel are holding open calls for five young actors to join the cast of the film. We're putting these targets here out for 2023 with the same mindset that we want to hit or outperform that guidance. 53 min read Participants Andrew T. Slabin; EVP of Global Investor Strategy; Warner Bros. So those candidates who are interested must have checked the companys full details. With respect to these initiatives, we are working on a total potential opportunity of $5 billion over the next few years. We have command and control of each of the businesses. Nowhere is this more important in my view, and it isn't going to happen overnight, and I believe we are on the right path. Or is that something that might fuel that service? Our next question comes from Ben Swinburne with Morgan Stanley. I'm especially happy about the development in our D2C segment, where we delivered a marked improvement across a number of key operational KPIs leading to a healthy sequential improvement to financial performance. Many of those people are going to want to move up to a bigger product, more robust with a bigger offering. Internationally, as I've said before, we look at our pricing is significantly under where we think the market is. That said, there's still more that we need to get right and we are hard at work. Discovery in which we took some pivotal initial steps. In terms of the market itself, it's -- as I've said before, it's not a good environment. I mean just how should we think of sort of pricing and how should that translate into sort of results as we look out to '23? 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? We can put you right on HBO on Sunday night with the biggest audience in America, tuning right into you. . And it all stems from great storytelling. And so selling that to drive free cash flow and to nourish the overall segment, so that we, as a media segment, can be successful is important. Obviously, successful films will help your Studio segment earnings. 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. Warner Bros Casting Calls are the most useful tools for those who are feeling capable that they can make an immediate impact on their acting careers, but aren't well-enough known to get invited to usual castings. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. We have an unusual situation. For those that are happy paying $5 or $7 and having home, food, Discovery and own type content. That's what led us to the conclusion that direct to streaming movies were providing really no value to us. Today, I'm thrilled to announce that Mike and Pam signed a deal to make multiple Lord of the Rings movies. To that end, linear ad sales is a top priority at the moment, particularly as we balance both cyclical headwinds and ongoing secular challenges, much of which we've dealt with for the last several years. We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. 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Our first question comes from Jessica Reif Ehrlich with Bank of America has today warner bros casting calls 2022 confirmed details of a new!