Streaming Growth Was Not Enough For Warner Bros. Discovery
Streaming Growth Was Not Enough For Warner Bros. Discovery
On Thursday before the bell, Warner Bros Discovery Inc (NASDAQ:WBD) reported its first quarter results and came short of estimates. Earlier this week, it announced it will be teaming up with The Walt Disney Company (NYSE:DIS) to offer a streaming bundle in an effort to further strengthen its positioning in streaming against market leader, Netflix (NASDAQ:NFLX).
周四，华纳兄弟探索公司（纳斯达克股票代码：WBD）公布了第一季度业绩，但低于预期。本周早些时候，该公司宣布将与沃尔特·迪斯尼公司（纽约证券交易所代码：DIS）合作提供流媒体套餐，以进一步巩固其在流媒体领域对抗市场领导者Netflix（纳斯达克股票代码：NFLX）的地位。
First Quarter Highlights
第一季度亮点
For the quarter ended on March 31st, WBD reported revenue dropped 7% YoY to $9.96 billion, which was short of LSEG's estimate of $10.231 billion.
在截至3月31日的季度中，WBD公布的收入同比下降7％，至99.6亿美元，低于LSEG估计的102.31亿美元。
WBD's bottom line improved from last year's comparable quarter when it reported a net loss attributable to shareholders of $1.07 billion, or 44 cents per share, to a net loss of $966 million, or 40 cents per share, while LSEG expected a lesser loss of 24 cents per share. Adjusted EBITDA were down about 20% as they amounted to $2.1 billion.
WBD的利润比去年同期有所改善，当时该公司报告归属于股东的净亏损为10.7亿美元，合每股亏损44美分，净亏损为9.66亿美元，合每股亏损40美分，而LSEG预计每股亏损将减少24美分。调整后的息税折旧摊销前利润下降了约20％，达到21亿美元。
Dented by lingering effects of last year's Hollywood writers and actors strikes, along with a weak gaming release of the latest iteration of Suicide Squad, the studio segment revenue contracted 12% to $2.82 billion.
受去年好莱坞作家和演员罢工的挥之不去的影响，以及最新版《自杀小队》游戏发行疲软的打击，该工作室板块的收入萎缩了12％，至28.2亿美元。
Fortunately, when it comes to streaming, WBD told an entirely different story.
幸运的是，在直播方面，WBD讲述了一个完全不同的故事。
Streaming Is Growing
直播正在增长
During the reported quarter, WBD added 2 million direct-to-consumer streaming subscribers, with the total now being 99.6 million. Streaming revenue modestly increased to $2.46 billion, earnings an adjusted $86 million. But advertising revenue for streaming skyrocketed as it grew a tan impressive rate of 70%.
在报告的季度中，WBD增加了200万直接面向消费者的流媒体订阅者，目前总数为9,960万。流媒体收入小幅增长至24.6亿美元，调整后收益为8600万美元。但是，流媒体的广告收入猛增，增长了70％，令人印象深刻。
The Disney streaming bundle is WBD's latest attempt to squeeze profitability of its direct-to-consumer platforms that are facing fierce competition. By joining forces with its rivals, like Disney, WBD will be able to better serve price-sensitive consumers and by doing so, challenge the market leader, Netflix. As of this summer, Max, Disney+ and Hulu will be offered in a bundle to consumers this summer. Although nor Disney nor WBD disclosed the pricing, it is known that the bundle will be offered at a discount.
迪士尼流媒体套餐是WBD的最新尝试，旨在挤压其面临激烈竞争的直接面向消费者的平台的盈利能力。通过与迪士尼等竞争对手联手，WBD将能够更好地为价格敏感的消费者提供服务，从而挑战市场领导者Netflix。从今年夏天起，Max、迪士尼+和Hulu将在今年夏天捆绑销售给消费者。尽管迪士尼和WBD都没有透露价格，但已知该捆绑包将以折扣价提供。
Advertising improved only when it comes to streaming.
只有在流媒体方面，广告才有所改善。
Although advertising was strong in streaming, it told an entirely different story when it comes to WBD's TV networks which continued to be weak as a whole. TV networks segment reported revenue tanked 8% to $5.13 billion, while advertising dropped as much as 11%.
尽管流媒体中的广告表现强劲，但就WBD的电视网络而言，它讲述了一个完全不同的故事，因为WBD的电视网络总体上仍然疲软。电视网络板块报告的收入下降了8％，至51.3亿美元，而广告下降了11％。
Therefore, advertising only improved on the digital and streaming front, as the traditional TV segment continues to fall behind.
因此，随着传统电视细分市场继续落后，广告仅在数字和流媒体方面有所改善。
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