Warner Bros. Discovery's Streaming Revenue Comes Largely From Max as Cable Assets Remain Key to DTC Strategy | Charts
Warner Bros. Discovery (WBD) reported earnings last week with largely positive news for its direct-to-consumer (DTC) streaming business. In Q3 2024, the company saw its largest quarter-on-quarter growth in subscribers, increasing to to 110.5 million subscribers globally from 103.3 million in Q2. This translated to a 9% revenue growth for the DTC segment, which was largely driven by growing subscribers in international markets.
While the company appears to be gaining momentum in its streaming business after years of focused investment, WBD’s debt load and reliance on traditional cable revenue complicate its future growth potential. This dilemma has been highlighted recently as other legacy media companies explore selling off cable assets.
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