Warner Bros. Discovery (WBD) stock opened at an all-time low following its Q4 2023 earnings call, missing revenue and earnings estimates and falling 9% in pre-market trading. Investors expressed concern over the company's future financial guidance, with LightShed Partners noting a lack of clear future projections. Amidst financial turbulence, CEO David Zaslav highlighted strategic moves including a blockbuster sports streaming bundle with Disney and Fox, aimed at simplifying viewer access for Gen Z, and a restructuring of the direct-to-consumer business that improved EBITDA by $2.2 billion in the past year. Additionally, Zaslav discussed the Harry Potter franchise, revealing plans for a reboot and confirming J.K. Rowling's involvement, including a Potter HBO series. The franchise's management under Rowling's control was likened to the influence of Clint Eastwood or Steven Spielberg, underscoring her significant role in the brand's direction.
First 8 films: $7.7B box office over 10 yrs; every budget >$100M Hogwarts Legacy: $1.1B revenue in under a year; $150M budget Just a superior business model. $WBD Can Warner Bros. Uncancel J.K. Rowling? https://t.co/ShKYmV8IMh
REVEALED: Incredible secrets of how JK Rowling controls Harry Potter brand by 'holding meetings filled with screaming and crying'...as Warner Bros. says she's as important as Clint Eastwood or Steven Spielberg https://t.co/DvCpl0cjxL https://t.co/NR8dD4Uyni
REVEALED: Incredible secrets of how JK Rowling controls Harry Potter brand by holding meetings filled with screaming and crying...as Warner Bros. says she's as important as Clint Eastwood or Steven Spielberg https://t.co/YoXnX67rl8 https://t.co/VWKfO90nVX
WSJ long read: David Zaslav & $WBD’s epic quest to rebuild their relationship with JK Rowling (& maybe even uncancel her): https://t.co/AepSuYONDz
J.K. Rowling and the studio scuffles: @erichschwartzel takes us inside Warner Bros.'s tumultuous relationship with the Harry Potter creator https://t.co/BtCWHfh0Iy
Really good read here on Warner Brothers desperate courting of @jk_rowling for a new Harry Potter series. Rowling has been 100% right on all her public comments on gender. She didn’t have to speak out at all. Credit to her bravery: https://t.co/bbgQTbpmbf
Sprotts Physical Uranium Trust slumped to the technical important 27.30 level on Friday, down 20% from the peak, in the process wiping out all YTD gains as sellers where prepared to sell at a deepening discount to NAV https://t.co/0oHLbepD3A
How David Zaslav & Co wooed JK Rowling and got her on board for a Potter HBO series. From @erichschwartzel https://t.co/JRLYHhbzLL
Behind the rise of Harry Potter into a global phenomenon is a complicated relationship between one Hollywood studio and the author who created him https://t.co/zqIVXToDA2 https://t.co/zqIVXToDA2
$WBD -- still too early but we are making progress https://t.co/vMPql5dBRc https://t.co/G9UnUgfZea
David Zaslav reveals the planned blockbuster sports streaming alliance between Warner Bros., ESPN, and Fox is all about Gen Z. https://t.co/YPnnFuzEpX
Sprott physical trust's discount to NAV doubles as an effective index of #uranium investor sentiment. Here is the chart, through yesterday. It's down to -15% today. Extreme bearishness, reached on only 4 other days in last 2 years. For absolutely no fundamental-based reason. https://t.co/41V35CD3zn
$WBD - "We've restructured the DTC business, with $2.2 billion of EBITDA improvement in the past year. From here, the priority will be different." https://t.co/Z3UxZ7Dvuf
WBD’s David Zaslav preaches optimism on joint sports streaming venture as stock tumbles https://t.co/rMpamgXMcX https://t.co/yaHyBXmRFa
Listening to CEO David Zaslav speak on today's WBD earnings call, I thought of a particular scene from a movie ... and I wrote about it here. https://t.co/EH5QIox090
Warner Bros. Discovery boss David Zaslav addresses the Harry Potter reboot's release plans and J.K Rowling's involvement. 📆 https://t.co/AY7C96vKfp https://t.co/AY7C96vKfp
We continue to believe $WBD needs to pivot their streaming strategy as we wrote back in December 2023 https://t.co/po2EM3lBea https://t.co/AhoDkp67l1
Warner Bros. Discovery Chief David Zaslav On How Sports Streaming Bundle With Disney And Fox Will Help Viewers: "You Won't Be Thinking, 'What Channel Is It On?" https://t.co/4Xu8NZFZmA
"Investors are panicking right now,” LightShed Partners' @RichLightShed says on $WBD down 9% in pre-market trading. They are concerned "that numbers are coming down and the inability to guide is another way of saying we’re going to be lower than we previously anticipated.” https://t.co/gvhoKIPHpX
WBD stock opened at an all-time low this morning after missing revenue and earnings estimates. Read the full earnings report following David Zaslav's Earnings Call to comment the Q4 2023 results: https://t.co/1GEKJiWtok https://t.co/pdDtvL8T8M