• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Warner Bros. Discovery adds 7.2 million Max subscribers, the streamer’s largest single-quarter jump

by November 9, 2024
written by November 9, 2024

Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter.

It marked the biggest quarterly growth for the streaming platform since its inception. Max now had 110.5 million subscribers as of Sept. 30. Warner Bros. Discovery’s flagship streaming service has been growing its subscriber base at a fast clip this year since expanding internationally during the first half.

Warner Bros. Discovery’s stock was up more than 10% on Thursday.

The streaming business has become a bright spot for Warner Bros. Discovery as its traditional TV networks have been pressured by cord cutting and a soft advertising market. Last quarter, Warner Bros. Discovery reported a $9.1 billion write-down on its TV networks.

On Thursday, Warner Bros. Discovery reported third-quarter results that showed revenue decreased 4% to $9.62 billion compared with the same period last year. Total adjusted earnings before interest, taxes, depreciation and amortization were down 19% to $2.41 billion.

Warner Bros. Discovery swung to a profit of $135 million, or 5 cents a share, compared with a loss of $417 million, or 17 cents per share, in the same period last year.

TV networks revenue rose 3% to $5.01 billion compared with last year, despite declines in both distribution and advertising revenue for the segment. Studios segment revenue dropped 17% to $2.68 billion, with theatrical revenue falling 40%, excluding the impact of foreign currency exchange, due to the lower box-office performances of “Beetlejuice Beetlejuice” and “Twisters” compared with that of “Barbie” last year.

However, the streaming business’ revenue increased 8% to $2.63 billion, driven by an increase in global subscribers, higher advertising revenue and global average revenue per user. Adjusted EBITDA for the segment was $289 million, a rise of $178 million compared with last year.

While Wall Street has turned its attention to streaming profits in favor of subscriber growth, media companies have nonetheless been reporting customer additions so far this quarter.

In October, streaming giant Netflix reported 5.1 million subscribers additions during the quarter, propelled by its ad-supported plan and beating Wall Street expectations. In total, Netflix now has 282.7 million memberships.

However, beginning in 2025, Netflix will no longer update investors on its subscriber numbers as it shifts focus toward revenue and other financial metrics as performance indicators.

Comcast’s streaming platform Peacock added 3 million subscribers during its third quarter — spurred by the Summer Olympics in Paris — bringing its total to 36 million as of Sept. 30.

In August, Disney reported that Disney+ Core subscribers — which excludes Disney+ Hotstar in India and other countries in the region — increased by 1% to 118.3 million, despite the company’s earlier guidance that it wouldn’t add new customers during the fiscal third quarter.

Disney’s Hulu saw subscribers increase 2% to 51.1 million. Disney reports its next quarterly earnings on Nov. 14.

Paramount Global’s streaming division swung to an unexpected profit last quarter. Still, its Paramount+ streaming platform dropped 2.8 million subscribers to 68 million as it unwound a Korean partnership deal. Paramount is scheduled to report quarterly earnings Friday.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. Comcast is a co-owner of Hulu. NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Iran denies involvement in Trump assassination plot outlined in DOJ report: ‘Malicious conspiracy’
next post
Sen. Josh Hawley ‘delighted’ to back Sen. John Cornyn for Senate Majority Leader

related articles

JPMorgan marks 1,000th branch opening since 2018 expansion...

August 1, 2025

Apple crushes Wall Street expectations as iPhone sales...

August 1, 2025

Ontario cancels internet deal with Musk’s Starlink as...

July 31, 2025

Trump ends de minimis exemption for global low-cost...

July 31, 2025

Recall warns some Celsius energy drink cans accidentally...

July 31, 2025

Union Pacific to buy Norfolk in $85 billion...

July 29, 2025

Things are getting better at Boeing under CEO...

July 29, 2025

Elon Musk confirms Tesla has signed a $16.5...

July 28, 2025

Palantir joins list of 20 most valuable U.S....

July 26, 2025

FCC greenlights Paramount’s $8 billion merger with entertainment...

July 25, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Election fraud alert: Steps to safeguard your vote

    August 30, 2024
  • Joe Biden poses with Hunter’s Chinese business associates in newly surfaced photos: ‘Incredibly damning’

    December 27, 2024
  • House lawmakers leave DC until September with government shutdown deadline looming

    July 27, 2024
  • Trump has higher approval rating than at any point during first term: poll

    February 11, 2025
  • Joe Biden Drop Out: US Election 2024 Updates

    July 22, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,603)
  • Investing (634)
  • Stock (867)

Latest Posts

  • Netanyahu shows picture of Bibas family at combat officers’ graduation: ‘Remember what we are fighting for’

    February 23, 2025
  • HomeStreet Bank sells $990M in loans to BofA in strategic profit push

    December 27, 2024
  • Trump envoy meets Putin in Russia as Trump fumes over stalled Ukraine peace talks

    April 11, 2025

Recent Posts

  • Dems’ ‘delay tactic’ to ‘malign’ Patel and stall FBI confirmation dismissed as ‘baseless’ by top Senate leader

    February 5, 2025
  • Republican senators move to block Somalia terror funding until allies pay ‘fair share’

    May 2, 2025
  • Illegal immigrant gender surgeries blocked from taxpayer funding under new GOP bill

    September 12, 2024

Editor’s Pick

  • Can Congress defund federal courts with key Trump budget process?

    March 25, 2025
  • Dems hit Medicaid, Elon Musk fears in expensive campaign targeting 23 House Republicans

    March 3, 2025
  • Expert reveals how companies are rebranding ‘toxic’ DEI policies to skirt Trump-era bans: ‘New wrapper’

    May 20, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock