- Warner Bros. Discovery, Inc (NASDAQ:WBD) will likely share the new streaming strategy for the merged company when it reports second-quarter earnings, Reuters reports.
- Analysts expect WBD to report second-quarter revenue of $11.84 billion and EPS of $0.01.
- WBD will likely provide additional details about its plans to bring together the HBO Max service’s collection of dramas, comedies, and movies with the reality programs of Discovery+.
- Also Read: Warner Bros. Discovery’s Restructuring Attempts Differ From Its Peers Like Netflix, Disney – Read How
- WBD internally debated the pricing and the name of the new streaming service.
- WBD also explored free, ad-supported services that would exist alongside its subscription service.
- WBD discussed a service built on Warner Bros’ library of classic movies.
- Overlapping areas like the unscripted television unit behind such HBO Max reality shows as “FBoy Island” and “The Hype” will likely be eliminated, given Discovery’s strength in the television genre.
- Layoffs are also likely in the coming months to cut costs. Previously reports surfaced WBD is looking to downsize up to 30% or nearly 1,000 jobs in its global advertising sales team.
- WBD pivoted away from expensive, direct-to-streaming movies like “Batgirl,” a $90 million movie based on the DC Comics character.
- WBD scrutinized a $250 million agreement to become the exclusive home of filmmaker J.J. Abrams and his production company, Bad Robot.
- WBD ditched “Demimonde,” a science fiction series for HBO with an estimated $200 million budget.
- Price Action: WBD shares traded higher by 2.51% at $17.13 on the last check Thursday.
Price Over Earnings Overview: Adobe
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