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In 2024, The Warner Bros. Discovery company generated over 10 billion U.S. dollars from its Direct-to-Consumer (DTC) segment, representing growth of around two percent year-on-year. The segment includes the popular streaming platforms such as HBO, Max, and Discovery Plus. In total, Warner Bros. Discovery posted revenues of over 39 billion U.S dollars in 2024.

Warner Bros. DTC subscribers

Warner Bros. Discovery is famous for its studios and networks, yet its streaming business (DTC) is the segment that the company is prioritizing. Following a global trend of investing in streaming platforms, WarnerMedia merged with Discovery Inc. in April 2022 to gain new revenue sources and build a larger subscriber base. As a result, between January 2021 and March 2023 the number of subscribers of Warner Bros. Discovery grew by 28 percent. However, the company lost over one million streaming clients in the second quarter of 2023, attributing this in part to churn caused by subscription jumping. Despite this, DTC revenues of Warner Bros. did not suffer at that time.

Warner Bros. studios business and content

Since a large decline in profits caused by the coronavirus-related disruptions of 2020, Warner Bros. studios have been experiencing growth in box office revenue. The company owes its 2022 success, with revenues surpassing 900 million dollars, in large part to the two titles: “The Batman” and “Elvis”. Combined, these films accounted for more than half of Warner Bros. box office results that year. However, in 2024, Warner Bros. generated a domestic box office revenue of 1.16 billion U.S. dollars, down from 1.4 billion dollars a year earlier. In the grand scheme of things, Warner Bros. holds a relatively low share of the domestic ticket sales market, at less than six percent, compared to the 30 percent belonging to Disney. Nevertheless, its studios business remains on the map, with their biggest title of 2023 – “Barbie” generating global box office revenue of over a billion dollars just weeks after its release. It remains to be seen how the ongoing writers’ guild strikes will impact the company’s profitability this year and next.