Warner Bros. Discovery posted a third-quarter profit gain to $289 million for its direct-to-consumer (DTC) unit, which includes its streaming and premium pay-TV services, compared with a $111 million year-ago profit.
The company, led by CEO David Zaslav, on Thursday also said that it ended September with 110.5 million global streaming subscribers, including for Max and Discovery+, compared with 103.3 million as of the end of June. The gain of 7.2 million users was the largest ever quarterly growth in subscribers since the launch of Max, with subscriber growth across all regions.
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The gain was driven by the Paris Olympics which the company’s streaming operations featured in various international markets, streaming launches in new markets, as well as fresh content following last year’s dual Hollywood strikes. Streaming subs in the U.S. also posted a small gain. Total DTC segment revenue increased by
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