Warner Bros. Discovery Q1 Earnings: Streaming Solid, Studio Revenue Falls
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Warner Bros. Discovery had a mixed first quarter with beats on streaming subs and profit and an anticipated drop in revenue at the film studio, which has since turned around dramatically in Q2.
Global linear advertising sales dipped 11% with ongoing domestic audience declines offset in part by better trends in sports and international. Streaming advertising revenue jumped 35% driven by an increase in ad-lite subscribers.
The company ended March with 122.3 million global streaming subscribers, an increase of
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