A number of your competitors have cut back on the total amount that they're spending on cash content in '23 versus '22. Is there -- what are you considering? BURBANK, Calif. Due to the unprecedented global pandemic caused by the novel Coronavirus, Warner Bros. Television's Casting department launched a unique virtual "Actors in Training" initiative this summer designed to connect the Studio with emerging actors who may have had their final year of dramatic training curtailed or negatively impacted Discovery Second Quarter 2022 Earnings Call. And we've got a time-tested approach to cross promotion, and we're adjusting that right now to the larger portfolio and the larger number of assets that we're promoting. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. And on the potential for the balance sheet, the balance sheet improvement is very encouraging. We expect 2023 pro forma adjusted EBITDA to be in the low to mid $11 billion range, representing growth of low to mid-20%, against pro forma adjusted EBITDA of $9.2 billion in 2022. As always, we are not managing this company for short-term financial performance, but rather with the next 100 years of this vibrant creative organization in mind. The Foxtel Group has today officially confirmed details of a major new content and platform agreement with Warner Bros. The company's properties are divided into nine business units, including the flagship Warner Bros. film and television studios, comic book . Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. And once we establish this funnel, then we can take things like the first season of succession or the second season. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. If you have an ad-blocker enabled you may be blocked from proceeding. Please. August 4, 2022 04:30 PM ET. Moreover, the exit rate coming out of the fourth quarter lends confidence in continued very strong financial performance thus far in Q1 and into our soon-to-be relaunched D2C offering. I'm just wondering if you can talk about some of these assumptions. Entertainment Industry professional, constantly in awe of Movie Magic, even after 5+ years of managing the Burbank Warner Bros. No previous acting experience is necessary, but applicants need to be eligible to work in the UK (meaning they must be a UK, Irish or EU passport holder), and be available for filming between August and November 2017. Let me start with the second. Warner Bros. TM & WBEI. The only other thing I'd add, Ben, is for us, it's not just a question of subscriber scaling. With respect to the cadence of free cash flow, as is historically the case for both legacy Discovery and WarnerMedia, Q1 free cash flow will represent the low point for the year given the timing of sports rights payments, timing of content outlays and cash interest payments on a large portion of the acquisition debt. We haven't done new Harry Potter content in over a decade. You also hear a bigger discussion around how you decide when something should be exclusive to your platforms and when maybe you should be licensing. And then obviously, with the new product, we just look at some of the features that we're going to be rolling out and some of the improved and enhancements from a performance standpoint in the product at a much higher engagement, which will help both our ad-lite monetization, including, as David mentioned earlier, the fact that we're now putting ads and all the content on HBO Max as opposed to just some of the content on HBO Max, all those will be part of the revenue drivers in addition to obviously having the rights like we talked about before, for all of our sports in the U.S. and news content eventually that could also help us drive further scale and pricing in the years ahead. With that, I'd now like to turn it back to the operator, and David, JB and I will take your questions. Having said that, as we face this next upfront, which is coming up in two months, I think the breadth of our content together with where we go in on price, positions us very well. We brought our losses down considerably and are even more confident in the financial targets we laid out a few quarters ago. Games & Home entertainment faced difficult year-over-year comps as well due to last year's COVID-induced tailwind for library content. Discovery Access Talent Spotlight, candidates must meet the below requirements: Participants must be 18 years or older as of March 1, 2022. Discovery, Q4 2022 brought a hefty price: A net loss of USD 2.1 billion due to declining ad sales revenue figures. And we are still in the early stages of bringing this comprehensive portfolio together and harnessing all that it can deliver. And now we're -- this year, you're going to see us fighting on DC. And it all stems from great storytelling. Warner Bros. Our next question comes from Kutgun Maral with RBC Capital Markets. And when you tell them a great story and they get to experience it with others, either in a packed theater or on a Sunday night, it really is magic. Discovery in April last year. In 2022, Warner Bros. will release Elvis, a biopic about the king of rock and roll himself. Today, with direct-to-consumer, more and more people are joining the party. More details on the decision to have Wonder Woman 1984 debut in theaters and on HBO Max at the same time have been revealed, and it turns out there's a good reason for handling the sequel this way. During the WBD quarterly earnings call, Zaslav . Discovery advantage. We reduced EBITDA losses by $500 million year-over-year to $200 million in Q4, supported by 1.1 million net sub adds in the quarter. All the meetings that I've had in the last two weeks are about great content that we're producing, meeting with creatives that want to come here, how we -- what more shows are we going to be selling, what more shows are we going to be keeping on our platform? But we -- I believe that we have an overwhelming advantage in the marketplace with the IP that we own, but to take -- to get that advantage, we have to create great content with that IP. On the news side, we are fighting hard and making real progress. Yes. Such a move has been expected for quite some time, given Warner Bros. It's 1 of the biggest value creation opportunities for us. Adjusted EBITDA decreased 7% as revenue declines were partially offset by lower content expenses as well as lower personnel and marketing costs, in part reflecting our cost synergy efforts. International, some areas actually trending up now, others still difficult. filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID And one of the tenets is we're not going to launch any content before it's time. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. And with that, I am pleased to turn the call over to David. We do see the weekly bookings right now ticking up slightly if you compare January and February with maybe the November, December timeframe, looking a little better; retail, fast food, entertainment, a little better; telecom, small, but coming back; but then you've got other areas like technology is still completely depressed. First, let me say, this promises to be a very exciting year for our company. Or is that something that might fuel that service? We took bold decisive action over the last 10 months and the bulk of our restructuring is behind us. The 50 Best Movies of 2022, According to 165 Critics from . The program was created to provide undiscovered and underrepresented actors, particularly people with disabilities, Indigenous, MENA, and Trans . This is some of the most recognized and beloved storytelling IP in the world, and we're excited to tell even more of those stories. So I think we're very well positioned. An open casting call has gone out for three actors between the ages of 13 and 16 to play young versions of Newt, Leta, and another character called Sebastian. And I think our diversity, we have all these different assets that have -- that are different. Every week, a new episode comes out and by the time the next one airs a week later, tens of millions of people have watched the last episode. And I believe in that, having been in this business for 30 years, I think in order to really drive asset value, you need to drive price. So I think this is an exciting time because I think we're really -- we made some tough decisions. So we do see subscriber scale as one part of the revenue growth story. I remain very optimistic about the range of potential outcomes in 2023 and beyond. And regarding the linear affiliate renewals, as we've said a couple of times that we're very happy with how those discussions went, is a clear testament to the importance and the value that our network portfolio is delivering to our affiliates. To that end, linear ad sales is a top priority at the moment, particularly as we balance both cyclical headwinds and ongoing secular challenges, much of which we've dealt with for the last several years. And so we want to optimize that as a unified strategy for the company. And then there was a lot of content that just wasn't being viewed. And it's the same principle with theatrical, perceived value of content increases when there's a great expectancy and excitement. And we can create a Tubi or a Pluto without buying content from anybody by just being able to put it on ourselves. Turning to the quarter, I'd like to quickly take you through some of the puts and takes impacting performance. Casting Calls Georgia On Location Casting ATLANTA BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - June 23, 2022 856 0 Advertisements On Location Casting ATLANTA BACKGROUND Casting Notice **LINK TO SUBMIT! On the advertising side, it's kind of a complex answer. Warner Bros. Q&A session is now closed, which concludes today's conference. Young Sheldon, network TV's #1 comedy. We definitely are planning for an inflection on the revenue side. is looking for PAID EXTRAS for a new series on THE CW based on DC Comics series "NAOMI" that will be filming here in Atlanta, GA. This year, we celebrate the storied Warner Bros. Studios 100th anniversary with a deepened commitment to telling quality, diverse stories, with the power to entertain, inspire, and when we are at our best, impact or even change the culture. Leta Lestrange was mentioned in the first Fantastic Beasts film as having a close friendship with Newt at Hogwarts, and her photograph was seen in Newts workshop. Head of the Localization Department at Warner Bros. Games Montreal.<br>Extensive experience in video-game internationalization and localization engineering into +15 languages. Your email address will not be published. And for us, DC alone will be -- could and should be a game changer. We do expect the cash cost to achieve synergy and transformation efforts will be around the higher end of our $1 billion to $1.5 billion guide given the expanded synergy target, some of which possibly hitting in 2024. And we don't yet have, we think, a strong enough position in that market. Turning to the total company EBITDA outlook. There's loads of content out there. You do not need to submit this form if you've already submitted to any casting. But curation, creating content at a time when people can watch it, creating a community conversation. In addition to all of our entertainment and nonfiction, we do have all of our news and sports. Consistent with what we told you last August, we are getting ready to launch our combined streaming service here in the U.S. in a few months with Latin America to follow later this year and markets in EMEA and APAC in '24. And the best thing that we have going for us right now is all of that hard work that we did, and it was probably two years of work that we did in 10 months, it's now almost -- it's overwhelmingly behind us. Discovery CEO David Zaslav said the retooling of CNN 'isn't going to happen overnight.'. Elvis is a 2022 biographical drama film directed by Baz Luhrmann and written by Luhrmann, Sam Bromell, Craig Pearce, and Jeremy Doner.It follows the life of the American rock and roll singer and actor Elvis Presley, told from the perspective of his manager, Colonel Tom Parker.It stars Austin Butler as Presley with Tom Hanks as Parker, while Olivia DeJonge, Helen Thomson, Richard Roxburgh . WarnerMedia Equity + Inclusion announces the WarnerMedia Access Talent Spotlight, a new talent training program for aspiring actors looking for professional development and resources. Having said that, we closed this deal right before the upfront, and we're first bringing our teams together. And to that point, I have no doubt that we have years and years of that coming our way. For those that are happy paying $5 or $7 and having home, food, Discovery and own type content. Casting for teenage Dumbledore follows on from the news that Jude Law will play the adult character in the Fantastic Beasts sequel. We have the largest maker and seller of content in the world, and while we've got lots more to do, we are increasingly seeing positive traction and strong proof points. Is this happening to you frequently? WIZARDING WORLD Publishing and Theatrical Stage Rights J.K. Rowling. Discovery Cuts Scripted Programming at TBS, TNT. On the 12th, we'll lay out to you, we have a clear attack plan, where we'll drive this really across the country and into markets around the world with conviction. David, maybe just to sort of wrap up that on the content side. To apply for the Fantastic Beasts open casting call, email [emailprotected] with a recent colour photograph, (i.e., taken within the last two months), contact telephone number, your home address and date of birth. And then we have the ability to pick from all of these different baskets to build really what may be most important for us, which is a successful and profitable streaming business. And to that end, we are now confident in a path to at least $4 billion of savings largely addressable through 2024, representing an increase of $500 million over our prior estimate. At Warner Bros. We can put that down on our AVOD service. Sir, you may now begin. And then on the cost side, all of the trends are pointing in the right direction. In the end, there was public backlash over his casting, but not because of his . We have an unusual situation. It reminds me of my time at NBC when Thursday Night was must-see TV. But we'll take you through what that plan is and how we intend to do it on the 12th, but well locked and loaded. And my second question is about this pending relaunch MAX product. [Operator Instructions] I would now like to hand the call over to Mr. Andrew Slabin, Executive Vice President of Global Investor Strategy. Good afternoon, and welcome to Warner Bros. And so we were able, in many ways, to Monday morning quarterback. . As the only studio scaled in gaming, we see it as a meaningful differentiator with substantial opportunity. And so you put the Discovery+ and HBO Max proposition together at a great value, and we think we deliver something that ultimately has something for everybody in the household, which will help us on scale and help us on churn, which are the two major ingredients we're focused on as well as obviously engagement. We were able to put that to work behind some of cases launches, behind some of our film launches. Margot Robbie, who plays Barbie, is instantly as Barbie-esque as you could imagine, all blond hair and smiles and bright pink car. Faith Wood-Blagrove beat thousands of other young actresses to the role of Modesty in Fantastic Beasts, and Evanna Lynch was chosen for the part of Luna Lovegood out of 15,000 other young women following open casting in 2006. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. So I know it's a pretty open-ended question, but can you talk about how you see the streaming industry evolving overall with these changes? So I think that I'm hyper-focused on this, meeting once a week with the team, but getting our stride as a new working team, and I feel like we're starting to get some momentum on that. October 27, 2022 THE LATEST Casting Lady Gaga Joins. And so we'll keep in mind this balance of volume versus price. It's working. Aug 9, 2022, 8:40 AM. An important reference point for the value of our combined portfolio of networks to our distribution partners. Discovery experienced a staggering USD 2.1 billion financial setback. It's just too early to really call a trend change here. The Voice, the #1 most watched unscripted show on network TV. In the meantime, we completed a new distribution agreement that puts HBO Max back on Amazon Prime video channels. Among them, the integration and repositioning of our global finance organization through which we implemented a number of initiatives to drive efficiency and better support the company's long-term sustainable growth. Does that include any potential asset sales like nonstrategic asset sales? We've contended with recent share shifts away from our portfolio during the NFL and College Football season and the World Cup. Two questions. No, I was just going to say that as David has said before, I think the industry obviously was at a scale at any cost. Yes, that's one important ingredient. Discovery to Merge Streaming Services James Gunn, and Peter Safran were Appointed to Be Executives of DC Studios 'Stranger Things' Caleb McLaughlin Says He Wants to Place 'Static Shock' Margot Robbie on Lady Gaga Cast to Play Harley Quinn in 'Joker 2' Before we start, I'd like to remind you that today's conference call will include forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. But I also think we're very well positioned to grow from here. And so selling that to drive free cash flow and to nourish the overall segment, so that we, as a media segment, can be successful is important. Taking a step back here, though, I mean, the reason why -- one of the reasons why we carved out the linear business, the network business is, one, separate segment is to be completely transparent about where those trends are moving. Acting students missing out on their final year of school can submit their interest to the Warner Bros. Television casting department. Discovery might have had. Please disable your ad-blocker and refresh. And getting ready for our new launch. We are committed to continue executing our strategic initiatives to drive top line performance and with much repositioning behind us, we are beginning to fully lean into the opportunities ahead of us. And with the breadth and depth of content that we have across the company, we think we're very uniquely able to do that without jeopardizing or risking the subscription business, the theatrical business or some of our upstream windows, which we'll obviously continue to focus on. Turning to consolidated results and free cash flow. I think the focus right now is obviously continuing to on the expanded entertainment offering, and we think the complementary of the HBO Max and Discovery+ entertainment offering is significant and will be a major step forward for consumers, who are looking for simplified number of choices, more breadth of options in terms of content all in 1 place and for good value. Clearly, as we have pointed out as a key risk since the summer, underlying advertising trends, particularly in the U.S., have continued to soften through the fourth quarter, and that was further exacerbated by general entertainment audience declines. Q4 revenues decreased 9% year-over-year, while adjusted EBITDA decreased 2%, helped by a reduction in consolidated SG&A by 22%, a bit more than we guided to. I mean, pot levels in the industry, I think, were down 14% in the quarter. Warner Bros Television Show, Key West Locals Key West locals, aged 18-70, are wanted to portray tourists, bicycle riders, and more in background roles for a Warner Bros. television project.. J.B., anything to add to that? And we're doing it in a very tasteful way by putting it on the very front end. And back then, you had to watch the show on Thursday night. Number two, partnering with our business leaders to embrace a more rigorous analytical framework through which capital allocation decisions will be viewed, particularly as we refine how our content is monetized and windowed. Our next question comes from Brett Feldman with Goldman Sachs. I'll just take a swing at it, Gunnar, you can follow. Echoing some of what David said, the leadership team is ever more aligned on strategic decision-making that benefits the company as a whole versus one segment or another and is incentivized as such. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. Discovery CEO David Zaslav has doubled down on the groundwork being laid out for James Gunn and Peter Safran's DCU plans. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. We've heard the word curated. We've gone through a couple of the puts and takes here. Lord of the Rings is one of the most iconic storytelling franchises of all time and we're so excited. These statements are made based on management's current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from our expectations. Photo: Kevin Dietsch/Getty Images. Discovery The move is part of CEO David Zaslav's self-imposed mandate to find $3 billion in synergies between the two companies. The scatter market overall is very slow, I would say, steady to maybe a little bit better than it was in the fourth quarter. Note that merger and integration-related cash costs totaled nearly $150 million in Q4 and nearly $800 million for the year, in addition to a nearly $350 million headwind from securitization and factoring since the closing of the deal in early April. Warner Bros. I can't wait for The Flash to hit the theaters in June. It's working. Warner Bros. is a global leader in all forms of entertainment, from movie and TV screens to mobile devices, store shelves and beyond. I'm confident that we will get there, particularly with some of the operational and content-driven initiatives implemented by Kathleen Finch and her team. We have an exceptional leadership team that is truly aligned across a common set of strategic, operational and financial goals and metrics. Warner Bros. didn't even have the courtesy to give the "Batgirl" cast and creative team a bat signal that their movie was being locked away in Arkham. Casey and the team continue to fuel critical and audience acclaimed with globally resident content, driving improvements in engagement and churn, which is setting up a nice tailwind into the relaunch. These are huge numbers, particularly in today's day and age of binge viewing, when there is so much content to choose rooms. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. I'll talk more about that in a minute. Hello, everyone, and thank you for joining us. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. Entertainment, which is owned by Warner Bros. It's significantly better outside the U.S. right now, which is a surprise. The sentiment is not terrific. And we're curating now in a way that's having an impact on America. And on the 2023. Warner Bros. 2023 will be a year of building and off we go. We see churn as a third important variable that historically has been relatively higher on the HBO Max product that with the two products coming together, that ultimately coming down is important. And so -- which -- where we pivoted and said we were going pushing to move all of our films back out with real windows in order to optimize those products. Warner Bros Casting Calls are the most useful tools for those who are feeling capable that they can make an immediate impact on their acting careers, but aren't well-enough known to get invited to usual castings. Sir, you may now begin. 3 min read. As expected, performance was negatively impacted by lower TV licensing revenues against a very tough comp last year, something well face again in the first quarter of 2023. And we've lapped that now, and we're seeing some growth now. David Zaslav Praises CNN Adding More GOP Voices; "Balance Strategy" Is "Important," Warner Bros Discovery Boss Says + Discussion: The Wrap, . And it is shared -- the platform itself for Discovery+ will be a shared platform. from casting calls to the lure of the red-carpet award season. More on this from Gunnar in a minute, but I'm pleased with the trend line we see in Q1, particularly as we are managing towards close to breakeven segment EBITDA in the quarter. We have command and control of each of the businesses. Oh, on FAST. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. Required fields are marked *, Warner Bros.-Seven Arts, Inc.(19671970), Toby Emmerich(Chairman, Warner Bros. Pictures Group), Walter Hamada(President, DC-based Film Production), studiofacilities.warnerbros.com/studio-operations-inquiry-form/. There's been an increasing discussion recently about what the right general entertainment content strategy supposed to be for media companies as your models continue to pivot and become more streaming-centric. Studio. In Harry Potter and the Deathly Hallows, readers learned that Albus and Gellert were once friends, before becoming arch-rivals. We'll definitely -- we're definitely planning for revenue improvement. "I was in the movie 'Grown Ups'. But just as you think about the impact of DC sort of fully realizing the opportunity over the next 5-plus years, what could that mean to Warner Bros. This is in part a function of a successfully executed synergy program and ongoing continuous improvement efforts. And we take that across film, TV and even to sell to third parties, because we have something, we have a treasury that no one else has. The other point that is front or set up for us is curation. Starting with the Studio segment. Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. We're also excited for the release of 4 DC films this year, starting with Shazam in 2 weeks and followed by The Flash, which James Gunn called 1 of the greatest superhero movies ever made, a masterpiece. It's not about getting it out quick. We want to tell the best stories, share them with the broadest audience possible, and we do that by working together as 1 team, 1 company. And we could see, for instance, at HBO, the majority of viewership of content on HBO was only 40% of the content. No. Reportedly Cancels 'Wonder Woman 3' Warner Bros. Here through this post, we are also providing complete necessary details about the Warner Bros Pictures Casting Directors Dates Roles. The studio is the flagship producer of live-action feature films within Warner Bros. In every country, they'll leave dinner and they got to go home to view that product that they love. Warner Bros. Pictures is a famous and popular American film production and distribution division of Warner Bros. 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