Warner Bros Discovery added more than seven million net subscribers in the third quarter of 2024 as its international Max rollout gathered pace, but total revenues and earning both dipped versus 2023 as box office takings tumbled.
Growth in the DTC segment was attributed to international expansion, as Max rolls out globally. Later this month on November 19, the service will launch in several Asia-Pacific markets. European launches began in May. Global DTC subscribers were 110.5 million at the end of the quarter, with the 7.2 million added representing the biggest quarterly increase since the launch of Max.
Total revenues were $9.62 billion, a 3% fall year-on-year, while total adjusted EBITDA was $2.41 billion, down 18%. Net income was just $135M, thanks in large part to a $1.6 billion pre-tax cost relating to “acquisition-related amortisation of intangibles, content fair value step-up and restructuring expenses.”
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