Warner Bros. Discovery “will not overspend to drive subscriber growth,” says CEO David Zaslav. “As you’ve heard me say, we are not trying to win the direct-to-consumer spending war.”
Warner Bros. Discovery is now the home of both HBO Max and Discovery+, with the former having scored 76.8 million total subs combined with HBO at the end of Q1, and Discovery reaching 24 million streaming subs by that same point,HBO Max and Discovery+ will be combined as one streaming platform under Warner Bros. Discovery, though timing on that integration has yet to be determined.
Zaslav also raised the provocative suggestion that Warner Bros. Discovery might go back to selling content around the world, especially in markets where HBO Max won’t be available for some time. Per Wiedenfels, WarnerMedia assets profit projection for 2022 is $500 million lower than Discovery expected, and Discovery’s better-than-expected results help offset that for WBD. “2022 will undoubtedly be a messy year,” Wiedenfels said.
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