Warner Bros. Discovery, Inc. WBD Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Global Linear Networks | $17.26B-2.2% | $17.66B-3.1% | $18.23B-5.8% | $19.36B-2.4% | $19.82B-1.7% | |
| Streaming | $11.11B+2.1% | $10.88B+1.3% | $10.73B0.0% | $10.73B+2.1% | $10.51B+1.9% | |
| Studios | $13.43B+6.4% | $12.62B-3.6% | $13.09B+5.1% | $12.45B+12.2% | $11.1B-4.4% | |
| Segment Adjusted EBITDA by Business | ||||||
| Global Linear Networks | $6.25B-2.5% | $6.41B-7.4% | $6.92B-5.6% | $7.34B-6.2% | $7.82B-4.0% | |
| Streaming | $1.47B+7.2% | $1.37B-1.2% | $1.39B+4.2% | $1.33B+43.0% | $930M+37.4% | |
| Studios | $3.06B+20.3% | $2.55B-8.0% | $2.77B+16.3% | $2.38B+37.8% | $1.73B+4.5% | |
| Other segment expenses by Business | ||||||
| Global Linear Networks | $2.13B-2.6% | $2.18B-0.5% | $2.2B-2.1% | $2.24B-2.7% | $2.31B+1.0% | |
| Streaming | $1.64B+2.5% | $1.6B+0.4% | $1.6B-0.7% | $1.61B-0.4% | $1.61B+5.3% | |
| Studios | $924M-1.4% | $937M+14.7% | $817M+6.9% | $764M0.0% | $764M+11.0% | |
| Personnel expense by Business | ||||||
| Global Linear Networks | $2.04B+1.6% | $2.01B+0.7% | $2B-2.2% | $2.04B-2.9% | $2.1B-2.4% | |
| Streaming | $760M0.0% | $760M+3.0% | $738M-2.5% | $757M-1.3% | $767M-0.8% | |
| Studios | $984M+2.2% | $963M+1.9% | $945M+1.2% | $934M+0.1% | $933M-1.1% | |
| Restructuring Reserve by Business | ||||||
| Global Linear Networks | $326M-3.6% | $338M-9.6% | $374M— | —— | —— | |
| Streaming | $110M-8.3% | $120M-6.3% | $128M— | —— | —— | |
| Studios | $219M-1.4% | $222M-14.3% | $259M0.0% | $259M-7.5% | $280M+1.8% | |
| Consulting fees and other accruals and adjustments by Business | ||||||
| Global Linear Networks | $3M0.0% | $3M+20.0% | $2.5M+350% | -$1M+33.3% | -$1.5M+25.0% | |
| Studios | -$9M-200% | -$3M— | —— | —— | —— | |
| Restructuring and other charges by Business | ||||||
| Global Linear Networks | $95M+37.7% | $69M-17.9% | $84M+15.1% | $73M-18.9% | $90M+5.9% | |
| Streaming | $41M+51.9% | $27M+22.7% | $22M+340% | $5M-61.5% | $13M+333% | |
| Studios | $32M+77.8% | $18M-92.4% | $237M+4.4% | $227M-8.1% | $247M-6.1% | |
| Payments for Restructuring by Business | ||||||
| Global Linear Networks | $109M+3.8% | $105M-16.7% | $126M-10.6% | $141M-12.4% | $161M-10.6% | |
| Streaming | $51M+45.7% | $35M-22.7% | $45.25M+17.5% | $38.5M-9.9% | $42.75M-19.3% | |
| Studios | $35M-36.4% | $55M0.0% | $55M-16.7% | $66M+10.0% | $60M-27.7% | |
| Restructuring Reserve, Accrual Adjustment by Business | ||||||
| Global Linear Networks | -$116M-75.8% | -$66M-300% | $33M+3,400% | -$1M+98.0% | -$49M+41.7% | |
| Studios | -$25M-19.0% | -$21M— | —— | —— | —— | |
| Marketing expense by Business | ||||||
| Global Linear Networks | $554M+4.7% | $529M+11.8% | $473M+0.6% | $470M0.0% | $470M+3.5% | |
| Streaming | $1.07B+6.5% | $1B+3.5% | $966M-5.2% | $1.02B-5.5% | $1.08B-6.0% | |
| Studios | $1.09B+2.2% | $1.07B-6.8% | $1.14B+2.0% | $1.12B+9.3% | $1.03B-3.5% | |
| Content expense by Business | ||||||
| Global Linear Networks | $6.28B-3.7% | $6.52B-1.8% | $6.64B-8.6% | $7.26B+2.0% | $7.12B-0.2% | |
| Streaming | $6.17B+0.4% | $6.15B+1.6% | $6.05B+0.4% | $6.02B-1.6% | $6.12B-1.0% | |
| Studios | $7.37B+3.7% | $7.11B-4.2% | $7.42B+2.3% | $7.25B+9.1% | $6.65B-8.4% | |
| Revenue by Product | ||||||
| Advertising | $7.17B-1.8% | $7.31B-1.7% | $7.43B-3.6% | $7.71B-2.7% | $7.92B-2.1% | |
| Content | $9.67B+0.2% | $9.65B-2.5% | $9.9B-0.7% | $9.97B+3.8% | $9.61B-6.7% | |
| Distribution | $19.28B+0.1% | $19.26B-0.7% | $19.39B-1.1% | $19.61B0.0% | $19.6B-0.5% | |
| Service Other | $1.09B+0.6% | $1.08B-5.6% | $1.15B-1.1% | $1.16B-4.5% | $1.21B-1.6% | |
| Remaining performance obligations by Product | ||||||
| Advertising | $3.72B+9.7% | $3.39B+12.2% | $3.02B+11.5% | $2.71B+1.3% | $2.68B-4.0% | |
| Brand Licensing Contracts | $14.54B— | —— | —— | —— | —— | |
| Content Licensing Contracts | $18.9B— | —— | —— | —— | —— | |
| Distribution | $9.3B+6.5% | $8.73B+0.9% | $8.65B-9.3% | $9.54B-11.6% | $10.79B-8.3% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Warner Bros. Discovery, Inc. break its business down?
- Warner Bros. Discovery, Inc. (WBD) reports revenue by business across 3 parts — Global Linear Networks, Streaming and Studios. Each is extracted from the segment footnotes and tracked over time.
- Where does Warner Bros. Discovery, Inc.'s segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Warner Bros. Discovery, Inc.'s SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
