(Finance) – Warner Bros Discoverya company listed on the Nasdaq and a global leader in the media and entertainment sector, closed on fourth quarter of 2023 with total revenues equal to 10,284 million dollars, down 7% net of exchange rates compared to the same quarter of the previous year. There net loss was $400 million, including $1,699 million of pre-tax amortization from acquisition-related intangible assets and $75 million of pre-tax restructuring charges.
The total number of subscribers of the Direct-to-Consumer division (concluding HBO, Max and Discovery Plus) was 97.7 million, including 1.3 million subscribers from the BluTV acquisition. Excluding BluTV and TNT Sports Chile, subscribers increased by 0.5 million compared to the end of the third quarter. DTC’s adjusted EBITDA was -$55 million, an improvement of $162 million year-over-year.
“After meeting our strategic plan to reposition the company, we now have solid foundations and a clear growth path – commented David Zaslav, President and CEO – We generated $6.2 billion in free cash flow and repaid $5.4 billion in debt in 2023, putting us at 3.9x net leverage.”
“We have a plan of attack for 2024 which includes the launch of Max in key international markets, a stronger creative pipeline across our film and television studios and further progress against our long-term financial goals and we are confident in our ability to drive sustained operational momentum and greater value for shareholders,” he added.
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