Warner Bros. Discovery, Inc. (NASDAQ:WBD) Q1 2024 Earnings Call Transcript

The issues that HBO Max faced in ‘21 where they tried to roll out the product and were simply not able to get our content assets through the pipes, because it was all duct taped together. We’re in the process of working through all that. My own financial systems, the corporate systems, we’re still ripping out five different ERP systems. I have 225 financial boundary systems that we’re replacing. These things are paying dividends over many, many years. And what’s also important is the one company mentality that just didn’t exist on the Time Warner/WarnerMedia side, everybody is fully focused and fully aligned. Our linear teams are proud to deliver the cash flow that we need as a company to fund our investments. They are proud to deliver the content, regardless of whether it works on linear networks or whether you have quiet on set working in the DTC space.

David Zaslav: The one company you really see it in the ability to market globally. You saw it with Barbie, Wonka, with Dune 2, with Godzilla. You saw it with House of the Dragon, The Last of Us. When we launch House of the Dragon again, every platform, every platform everywhere in the world will be promoting it, but it won’t be just in spots. It’ll be all of our talent, talking about what’s coming up on Max and it’s something that’s become very attractive and it’s recognized in the community, that this is a place where if you create great content, that the Warner Brothers Discovery team will globally get behind it. People will know it’s coming and will generate a lot of energy behind any great content. And so I think that’s becoming one of the signatures of this company. One company and the ability to market globally like no one else.

Gunnar Wiedenfels: And even in our growth business under JB and Casey, we’re still focused on discipline. There’s a difference between an investment and an expense, and it’s not a coincidence that we’re leading in terms of profitability, while we’re getting ready to significantly accelerate our growth over the next couple of years.

Steven Cahall : Thank you.

Operator: Thank you. And this does conclude today’s program. Thank you for your participation. You may disconnect at any time.