Warner Bros. Discovery, Inc.
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes a comprehensive portfolio of content across television, film, streaming, and interactive gaming. The company leverages a vast library of intellectual property and iconic franchises to generate revenue through subscription services, advertising, and content licensing. Its core value proposition lies in its ability to produce best-in-class content and manage a diverse ecosystem of brands spanning news, sports, and lifestyle entertainment.
Financials
Based on Q1 2026 filing
Revenue
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Streaming
primaryThis segment focuses on direct-to-consumer and premium pay-TV services, offering a mix of ad-free and ad-supported subscription tiers. It serves as the primary vehicle for global digital expansion and subscriber growth.
HBO Max, discovery+, HBO, TVN/Player
Individual consumers, Digital service providers, Wholesale distribution partners
Studios
majorThe Studios segment handles the production and release of feature films and television programs, as well as the commercialization of intellectual property through gaming and consumer products. It serves both internal platforms and third-party distributors through licensing and theatrical exhibitions.
Warner Bros. Motion Picture Group, DC Studios, Warner Bros. Television Group, Warner Bros. Games, DC Comics Publishing
Theatrical exhibitors, Third-party television networks, SVOD platforms, Retail consumers
Global Linear Networks
majorThis segment operates a portfolio of domestic and international television networks, generating revenue through affiliate fees and advertising. It manages traditional broadcast assets while navigating industry shifts toward digital inventory.
Discovery Channel, CNN, TNT Sports, Food Network, TLC, TBS, Adult Swim, Turner Classic Movies
Cable providers, DTH satellite providers, Telecommunication companies, Advertisers
Segment Financials
Streaming — Marketing expense
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View metricStudios — Marketing expense
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View metricGlobal Linear Networks — Marketing expense
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Competitive Position
A dominant global player with one of the world's largest owned content libraries and a leading position in both traditional linear networks and emerging streaming markets.
Geographies
United States, Canada, Latin America, Europe, Asia, Australia
Customer Segments
B2C, B2B, Enterprise
Upstream Dependencies
Creative talent, Production equipment manufacturers, Sports rights holders, Cloud infrastructure providers
Downstream Customers
Retail consumers, Cable and satellite operators, Theatrical chains, Advertising agencies
Competitors & Partners
Competitors
Similar Companies
Partners
Netflix
NFLX
Former merger partner for Streaming and Studios segments; recipient of a termination fee.
PSKY
Acquisition entity entering into a definitive merger agreement to take WBD private.
Apple
AAPL
Streaming platform and device distributor.
Amazon
AMZN
Streaming platform and device distributor.
Subsidiaries
HBO
Premium cable and streaming content brand.
CNN
Global news network.
DC Studios
Film and television production unit for DC intellectual property.
Warner Bros. Games
Interactive gaming and console software division.
Warner Bros. Discovery, Inc. FAQ
Common questions about Warner Bros. Discovery, Inc.
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes a comprehensive portfolio of content across television, film, streaming, and interactive gaming. The company leverages a vast library of intellectual property and iconic franchises to generate revenue through subscription services, advertising, and content licensing. Its core value proposition lies in its ability to produce best-in-class content and manage a diverse ecosystem of brands spanning news, sports, and lifestyle entertainment.
Warner Bros. Discovery, Inc. (WBD) has a market capitalization of $67.8B and trades on NASDAQ.
Warner Bros. Discovery, Inc. generated $37.2B in trailing twelve-month revenue with a net loss of $1.9B, representing a net margin of -5.2%. Gross margin stands at 45.2%, with free cash flow of $2.3B. These figures are based on the Q1 2026 filing.
Warner Bros. Discovery, Inc.'s key competitors include The Walt Disney Company, Netflix, Inc., Fox Corporation Class A Common Stock, and others. These companies compete in similar markets and product categories.
Warner Bros. Discovery, Inc. has approximately 35,300 employees.