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20:30
May 06 ◎

WBD FY2026 Q1 Watch

Warner Bros. Discovery, Inc. (WBD) FY2026 Q1 Earnings Call

CHTR PARA RRTLY DIS NFLX ▾

David Zasloff

Highlights Charter as a positive example of bundling strategy stabilizing subscriber counts in the linear ecosystem, which is a partner and customer for WBD's networks.

"It's encouraging what Chris Winfrey's strategy has been at Charter. And if you look at their actual multi-channel subscribers, they're almost flat."

CHTR WATCH

David Zasloff

Acquirer of WBD; management frames the combined company's streaming assets as strategically advantaged, implying positive trajectory for Paramount post-merger.

"You'll see will be a huge benefit to Paramount when our deal closes together with their assets."

PARA WATCH

J.B. Perrette

RTL Plus bundling partnership in Germany is a key driver of high-LTV subscribers for HBO Max, indicating growing strategic importance for RTL in the streaming bundle ecosystem.

"We've launched with Vue in Southeast Asia. We're part of bundles in LATAM and across, frankly, the global footprint."

RRTLY WATCH

David Zasloff

HBO Max's UK standalone sports offering is a direct experiment testing the economics of premium sports outside linear bundles, an important strategic signal for the broader sports streaming market. — If profitable, this validates a standalone sports streaming model, potentially accelerating the unbundling of sports from traditional pay-TV and impacting competitors' strategies.

"And we saw with Disney that it was that bundling together, the churn went down. It was a better consumer experience. It was also a better economic experience."

DIS WATCH

J.B. Perrette

"And as you've often touted, the engagement and the churn metrics we're starting to see, particularly over the last couple months and as we look out for 26, are the best we've seen in the four years that we've been here."

NFLX WATCH

David Zasloff

Guidance is strongly positive, with management highlighting successful European launches, streaming subscriber and revenue growth acceleration, a strong content slate, and a transformative acquisition creating shareholder value.

"We have strong and accelerating momentum and expect to finish the year with more than 150 million subscribers globally."

WBD WATCH

HIGH

13:00
Feb 26 ◎

WBD FY2025 Q4 Watch

Warner Bros. Discovery, Inc. (WBD) FY2025 Q4 Earnings Call

DIS PARA WBD ▾

David Zasloff

Warner Bros. Discovery's film division delivered 9 #1 openings in 2025, a record, driven by a mix of original films and tentpole IP, indicating strong consumer demand for theatrical content. — This validates the theatrical window strategy and signals strong demand for premium content, impacting competitor strategies and box office outlook.

"Warner Brothers Motion Picture Group delivered a historic run of success with nine films debuting number one at the box office in 2025..."

DIS WATCH PARA WATCH

David Zasloff

Management tone is optimistic about content slate and subscriber growth, but acknowledges secular headwinds in linear networks. Overall guidance is mixed, balancing strong streaming momentum with declining traditional TV.

"We're well on our way to exceed 150 million subscribers by the end of the year."

WBD WATCH

MED

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