Warner Bros. Discovery’s streaming platform, Max, has reached 116.9 million subscribers, adding 6.4 million in the last quarter. Despite a 1% dip in overall revenue to $10 billion, the company reported a profit in its streaming division. The company faced a $640 million loss in Q4 2024, influenced by $1.9 billion in charges, including restructuring expenses. However, shares rose 6% after the financial results were announced. The company’s cable networks saw a 17% drop in ad revenue, with domestic network audiences declining by 28%. Network revenue fell 5% to $4.8 billion, and profits decreased by 13% to $1.9 billion. On a brighter note, the TV studio and library performed well, with studio revenue up 16% to $3.7 billion, driven by a 64% increase in TV revenue. Adjusted EBITDA for studios soared 78% to $950 million. Meanwhile, theatrical revenue dropped 9%, and the games division saw a 29% revenue plunge. The company anticipates $1.3 billion in streaming profits for 2025 and aims for 150 million global subscribers by the end of 2026.
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