And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. Sir, you may now begin. 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. Let me start with the second. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. Discovery advantage. China calls for Russia-Ukraine cease-fire, . On the one hand, we have tremendous breadth with live news, live sports, entertainment, nonfiction, a tremendous share and reach. These shows have averaged as many as 20 million viewers in episode with strong week-over-week growth. A few weeks ago, James and Peter rolled out Phase I of their highly anticipated multiyear plan for DC Studios across film, television and animation with 5 films and 5 television series already in the works, the new era for DC under a single creative vision is in full swing, and we are especially eager to thrill fans with new Superman and Batman movies in 2025. I believe Warner Bros. TV is the greatest quality maker of content in the world. Casting Australia (@warnerbroscastingau) With the successful launch of Hogwarts Legacy 2 weeks ago, we reimagined 1 of the biggest global franchises in the world. But just as you think about the impact of DC sort of fully realizing the opportunity over the next 5-plus years, what could that mean to Warner Bros. Or is that something that might fuel that service? 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. Interested in future casting calls or joining our casting division? And together, we are focused on making our businesses better and stronger. 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 as I've said before, net-net, that's not a segment where I would expect a sustained revenue growth. CAB Castings, LLC. We have profitable subscribers that are very happy with the product offering of Discovery+, why would we shut that off. Discovery. 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. 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. Adjusted EBITDA decreased 7% as revenue declines were partially offset by lower content expenses as well as lower personnel and marketing costs, in part reflecting our cost synergy efforts. Thank you, David. 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. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. Discovery Is America's Worst-Run Company,Mismanagement has ruined whatever success Warner Bros. Thank Sure. Warner Bros. FAST is one area that as we look at the evolution of consumer behavior, we look at obviously a lot of the free-to-air viewing moving to what we call free-to-view online. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. And then if you loved it, you can come up and you could then pay for on ad-lite or in subscription. Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. Netflix Reality Series Audition 2023 Casting Calls. Turning to Networks. Naturally, and as I have said before, not all of these initiatives will come to fruition or get realized to the full extent, but this represents a significant pipeline for us as components of both near-term cost out and longer-term continuous improvement. The advertising environment in the U.S. remains very . Our expert tour guides are on hand in this self-guided experience and will gladly fill you in . So I think we're very well positioned. I think it could and should be huge because it wasn't being pushed on. We have a lot of motion picture content that we're reworking and making a lot of progress with. And we hit this year with a full leadership team in place. The 99-year-old movie studio, home to Harry Potter, Batman and Bugs Bunny, will now head in a. It's -- those three of the tentpole products that when someone's at dinner anywhere in the world, and they look at their watch at 8:00 and you mention Batman, Superman, Wonder Woman, Harry Potter, Lord of the Rings. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. Arguably, we've done a little worse than that, partly driven by the scheduling or the sports schedules that David mentioned a couple of minutes ago. Discovery ( WBD) CEO David Zaslav promised 2023 will be WBD's year after the media giant reported fourth quarter earnings results that missed across the board on Thursday. Discovery to Report Fourth Quarter 2022 Earnings: Listen Live on February 23, 2023 at 4:30 p.m. NOW CASTING PAID EXTRAS (Ages 30 +) to portray ROADSIDE MOTEL GOERS for the NEW DC Comic series "NAOMI" for FRIDAY, 1/21/2022. Warner Bros. How to Get Cast On How to Get Cast in a DC Comics Movie or TV Show This guide will answer your most pressing questions. But we -- I believe that we have an overwhelming advantage in the marketplace with the IP that we own, but to take -- to get that advantage, we have to create great content with that IP. 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. TM & WBEI. (Photo by Santiago Felipe/Getty Images) The casting of their teenage incarnations as well as those of Newt and Leta will be sure to intrigue Harry Potter fans, and drive further speculation about the next films story. We're also thrilled by what we're seeing coming out of our games business, which represents a core part of our overall strategy. Just what should we expect in terms of '23 versus '22? 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. We generated $2.5 billion of free cash flow in Q4, bringing the reported full year free cash flow to $3.3 billion. And as we think about where we put content, as Casey looked at HBO, we were able to see which content are people spending time watching, what content is really powerful to us in terms of reducing churn. Discovery. This phenomenon can go for eight, 10-plus weeks for each series. In today's increasingly dynamic and a crowded media environment, the best hand has great storytelling IP, brilliant creatives, a full slate of production and distribution capabilities, and broad global reach that stretches across premium, pay TV, free-to-air, theatrical, streaming, licensing and gaming, the entirety of the ecosystem, and that is exactly the hand that we have, and we intend to play it decisively and with a focus on free cash flow and an eye towards sustainable future growth. Q&A session is now closed, which concludes today's conference. Gunnar will take you through all of the financials in our outlook, but I'm very pleased that we see our net leverage clearly below 4x by the end of this year, below 4x by the end of this year. Discovery to Merge Streaming Services James Gunn, and Peter Safran were Appointed to Be Executives of DC Studios 'Stranger Things' Caleb McLaughlin Says He Wants to Place 'Static Shock' Margot Robbie on Lady Gaga Cast to Play Harley Quinn in 'Joker 2' You may now disconnect. Our next question comes from Ben Swinburne with Morgan Stanley. 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. from casting calls to the lure of the red-carpet award season. But as David said, we've got sports and news that today are really untapped in the streaming world, and those are optionality for what we might be willing to do in the future, and we'll share more of that on the 12th with you with more detail. Before we start, I'd like to remind you that today's conference call will include forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We see churn as a third important variable that historically has been relatively higher on the HBO Max product that with the two products coming together, that ultimately coming down is important. And so you put the Discovery+ and HBO Max proposition together at a great value, and we think we deliver something that ultimately has something for everybody in the household, which will help us on scale and help us on churn, which are the two major ingredients we're focused on as well as obviously engagement. There's loads of content out there. WBD 15.42 +0.67 Warner Bros. Discovery, Inc. (NASDAQ:WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET, Andrew Slabin - Executive Vice President, Global Investor Strategy, David Zaslav - President and Chief Executive Officer, Gunnar Wiedenfels - Chief Financial Officer, Jean-Briac Perrette - Chief Executive Officer and President, Global Streaming and Interactive. And consistent with our overall commitment to great storytelling, we delayed the launch to get it right. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. Games & Home entertainment faced difficult year-over-year comps as well due to last year's COVID-induced tailwind for library content. If you look at The Last Of Us, it was growing every week, Euphoria, to be able to deliver 20 million, 30 million, 35 million people in America watching and to have it be a conversation. If you could share your view on those two impacts, that would be very helpful. This information is only for educational purposes use. The Hogwarts game, we took several additional months to rework it, to get it right. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. He presented that to you and the press about a month ago. The game was 1 of the most highly anticipated of 2023. 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 Is there -- what are you considering? 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? So those candidates who are interested must have checked the companys full details. We haven't done a Superman movie in 10 years. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. Well, look, we were laser-focused on building this DC 10-year plan. Before the upfront, and we hit this year with a full leadership team in.! I think it could and should be huge because it was n't being pushed on he presented to. Before the upfront, and we 're reworking and making a lot of progress with quarter. Worst-Run Company, Mismanagement has ruined whatever success Warner Bros Ben Swinburne with Morgan.. 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