Warner Bros. Discovery Posts 13% Revenue Jump, 2 Million New Streaming Subscribers in Q1

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Warner Bros. Discovery Posts 13% Revenue Jump, 2 Million New Streaming Subscribers in Q1
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The results don’t include first-quarter performance from WarnerMedia, which Discovery bought this month.

Streamlining streamingZaslav plans to combine HBO Max and Discovery+ into a bundled streaming service. The company hasn't announced if the new combined product will be renamed or when that change will take place.

Ahead of that effort, Discovery began winding down promotion around Discovery+ during the first quarter. The company said selling, general and administrative expenses in the period dropped 25%, primarily due to lower marketing-related expenses for Discovery+ compared with last year's launch period. Warner Bros. Discovery said it added 2 million Discovery-related streaming subscribers in the quarter for a total of 24 million. That's consistent with the 2 million added in the fourth quarter.

Last week, AT&T said HBO and HBO Max had 76.8 million subscribers at the end of the first quarter of 2022. The announcement marked the final time WarnerMedia would be part of AT&T's earnings report.

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