Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming. The Network segment comprises domestic and international television networks. The DTC segment offers premium pay-tv and streaming services. In addition, the company offers portfolio of content, brands, and franchises across television, film, streaming, and gaming under the Warner Bros. Motion Picture Group, Warner Bros. Television Group, DC, HBO, HBO Max, Max, Discovery Channel, discovery+, CNN, HGTV, Food Network, TNT Sports, TBS, TLC, OWN, Warner Bros. Games, Batman, Superman, Wonder Woman, Harry Potter, Looney Tunes, Hanna-Barbera, Game of Thrones, and The Lord of the Rings brands. Further, it provides content through distribution platforms, including linear network, free-to-air, and broadcast television; authenticated GO applications, digital distribution arrangements, content licensing arrangements, and direct-to-consumer subscription products. Warner Bros. Discovery, Inc. was incorporated in 2008 and is headquartered in New York, New York.

Warner Bros. Discovery, Inc.

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Gross Profit

Adjusted Net Income

Net Revenue

Net Income

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Streaming Adjusted EBITDA

Streaming Adjusted EBITDA % Chg.

Studios Adjusted EBITDA

Studios Adjusted EBITDA % Chg.

Global Linear Networks Adjusted EBITDA

Global Linear Networks Adjusted EBITDA % Chg.

Corporate Adjusted EBITDA

Corporate Adjusted EBITDA % Chg.

Eliminations from Adjusted EBITDA

Eliminations from Adjusted EBITDA % Chg.

Total Adjusted EBITDA

Total Adjusted EBITDA Common Size

Total Adjusted EBITDA % Chg.

Domestic Subscribers

Domestic Subscribers % Chg.

International Subscribers

International Subscribers % Chg.

Global Streaming Subscribers

Global Streaming Subscribers % Chg.

Key Performance Indicators

Distribution Revenue

Distribution Revenue % Chg.

Distribution Revenue Common Size

Advertising Revenue

Advertising Revenue % Chg.

Advertising Revenue Common Size

Content Revenue

Content Revenue % Chg.

Content Revenue Common Size

Other Sources Revenue

Other Sources Revenue % Chg.

Other Sources Revenue Common Size

Total Revenue

Total Revenue Common Size

Total Revenue % Chg.

Streaming Revenue

Streaming Revenue % Chg.

Streaming Revenue Common Size

Studios Revenue

Studios Revenue % Chg.

Studios Revenue Common Size

Global Linear Networks Revenue

Global Linear Networks Revenue % Chg.

Global Linear Networks Revenue Common Size

Eliminations from Revenue

Eliminations from Revenue % Chg.

Eliminations from Revenue Common Size

Domestic ARPU

Domestic ARPU % Chg.

International ARPU

International ARPU % Chg.

Global ARPU

Global ARPU % Chg.

Revenue	LTM	Dec '24	Dec '23
Distribution Revenue	19,390	19,701	20,237
Advertising Revenue	7,433	8,090	8,700
Content Revenue	9,895	10,297	11,203
Other Sources Revenue	1,145	1,233	1,181
Total Revenue	37,863	39,321	41,321

Revenue	LTM	Dec '24	Dec '23
Streaming Revenue	10,733	10,313	10,154
Studios Revenue	13,093	11,607	12,192
Global Linear Networks Revenue	18,228	20,175	21,244
Eliminations from Revenue	-4,193	-2,774	-2,269
Total Revenue	37,863	39,321	41,321

Adjusted EBITDA	LTM	Dec '24	Dec '23
Streaming Adjusted EBITDA	1,386	677	103
Studios Adjusted EBITDA	2,767	1,652	2,183
Global Linear Networks Adjusted EBITDA	6,924	8,149	9,063
Corporate Adjusted EBITDA	-1,140	-1,260	-1,242
Eliminations from Adjusted EBITDA	-686	-186	93
Total Adjusted EBITDA	9,251	9,032	10,200

Key Performance Indicators	LTM	Dec '24	Dec '23
Domestic Subscribers	58	57.1	52
International Subscribers	70	59.8	45.6
Global Streaming Subscribers	128	116.9	97.7