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☆ Warner Bros. Discovery 3Q Revenue Pulled Down by Weaker Ad Market
▼ + stars: | 2022-11-04 | by ( Denny Jacob | Joe Flint | ) www.wsj.com time to read: 1 min

Warner Bros. Discovery exceeded forecasts for subscribers in the latest quarter while other streaming companies have struggled. Warner Bros. Discovery Inc. posted revenue below analysts’ estimates, reflecting challenges from a weaker advertising market due to rampant inflation and charges related to its merger. The New York-based media giant, which in April completed a megamerger with the WarnerMedia business of AT&T Inc., posted revenue of $9.82 billion due to less demand in the ad space.

☆ Warner Bros. Discovery Eyes Spring Launch for New Streaming Service
▼ + stars: | 2022-11-03 | by ( Joe Flint | Denny Jacob | ) www.wsj.com time to read: 1 min

Warner Bros. Discovery Inc. is speeding up the launch of a combined HBO Max/Discovery+ streaming service, a decision that comes as the company is facing growing pressure on its traditional media businesses from cord-cutting and a slowdown in advertising. Speaking to analysts to discuss the company’s latest quarterly results, Chief Executive David Zaslav said: “While we have lots more work to do, and there are some difficult decisions still to be made, we have total conviction in the opportunity ahead,” adding that the as-yet unnamed service would become available in the U.S. in the spring, sooner than the previously announced summer release.

☆ Warner Bros. Discovery Marriage Hurt by High Debt, Low Morale
▼ + stars: | 2022-11-02 | by ( Joe Flint | ) www.wsj.com time to read: 1 min

Shares of Warner Bros. Discovery, which reports its quarterly results Thursday, have fallen about 46% since April. David Zaslav declared it a “bright shiny day’’ after the deal to merge his cable programming juggernaut Discovery Inc. with AT&T Inc.’s WarnerMedia unit closed last April. It has been anything but that for Warner Bros. Discovery Inc. and the new chief executive of the media giant, whose holdings include movie and television studios, CNN and HBO, and Discovery channels such as Food Network and HGTV.

☆ LGBT Representation in Ads Has Grown, but Many Consumers Find It Inauthentic
▼ + stars: | 2022-11-01 | by ( Patrick Coffee | ) www.wsj.com time to read: +6 min

Still, marketing to LGBT consumers can be tricky due to political tensions as well as consumer skepticism, particularly when big companies roll out Pride Month campaigns in June but are seen as not following through on standing up for LGBT rights. Many marketers still treat LGBT consumers as more of a niche group than they are, some experts said. A 2021 Nielsen survey found that, outside of Pride Month, only 1% of ads included LGBT characters or topics. Harris found that 67% of consumers think Pride Month has become too commercialized. In the Disqo survey, 46% of respondents said advertising already has enough LGBT themes and characters, and some experts think brands might mistakenly conclude that representing LGBT consumers in ads is no longer a pressing issue.

☆ Cramer's lightning round: Stay with Vertex Pharmaceuticals
▼ + stars: | 2022-10-27 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Warner Bros Discovery Inc : "I need to see them make some money. I'm not recommending stocks that are losing money." Loading chart...Getty Images Holdings Inc : "I think down here at $4, I'm not a SPAC guy, okay, but this one may be actually worth looking at." Loading chart...Cleveland-Cliffs Inc : "I continue to prefer Nucor . Loading chart...Vertex Pharmaceuticals Inc : "I say stay with it, I think it's a really, really well-run company."

☆ Warner Bros. Discovery Flags Up to $4.3 Billion in Restructuring Costs
▼ + stars: | 2022-10-25 | by ( Joe Flint | ) www.wsj.com time to read: 1 min

Warner Bros. Discovery said it expected to incur as much as $4.3 billion in pretax restructuring charges through 2024, the result of a cost-cutting effort following the combination earlier this year of Discovery Inc. and AT&T WarnerMedia unit. The majority of the charges—between $2 billion and $2.5 billion—are tied to restructuring the company’s content operations, including writing down the value of some content and killing off projects that were in development, Warner Bros. Discovery said in a securities filing Monday. The company is expected to report third-quarter earnings Nov. 3.

☆ Warner Bros Discovery expects up to $2.5 bln charge on scrapped content
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

Oct 24 (Reuters) - Warner Bros Discovery Inc (WBD.O) on Monday put a price tag on its decision to scrap "Batgirl," "The Not-Too-Late Show With Elmo" and other series and films deemed unworthy of the investment: as much as $2.5 billion. AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc completed their merger in April to form Warner Bros Discovery. Register now for FREE unlimited access to Reuters.com RegisterIn a regulatory filing on Monday, Warner Bros Discovery detailed how Zaslav and his leadership team plan to achieve the promised cost cuts, which will be substantially completed by the end of 2024. Warner Bros Discovery said it anticipates $800 million to $1 billion in costs related to layoffs throughout the company, and another $400 million to $700 million by consolidating facilities. The company declined to say how the charges would impact its third-quarter results, due for release on Nov. 3.

☆ Warner Bros Discovery expects up to $1.6 bln charge on scrapped content
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

Oct 24 (Reuters) - Media company Warner Bros Discovery (WBD.O) on Monday said it was expecting to book a pre-tax charge of $1.3 billion to $1.6 billion in the third quarter, much of it related to content pulled from the streaming service HBO Max, such as "The Not-Too-Late Show with Elmo." AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc completed their merger in April to form Warner Bros Discovery. The coming third-quarter will reflect the removal of 36 titles from HBO Max that failed to attract large audiences, including originals like the teen drama "Generation" and the animated anthology series "Infinity Train." In total, the company expects to write off as much as $2.5 billion in costs related to canceled projects. Warner Bros Discovery said it anticipates $800 million to $1 billion in costs related to layoffs throughout the media organization, and another $400 to $700 million by consolidating facilities.

☆ How much media and tech giants from Disney to TikTok pay employees in the US
▼ + stars: | 2022-10-19 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +12 min

And tech companies like TikTok have made key hires from more traditional media spheres. These are base salaries, and do not include other forms of compensation such as stock options or cash bonuses. DisneyDisney and its US streamer Hulu offered base salaries ranging from $93,150 to $242,000 per year, according to wages from 132 foreign-labor-certification applications. Most of the salaries were for streaming and tech jobs, including data scientist and software engineer roles. Most of the salaries were for data, engineering, and other tech jobs based in San Francisco, California; and Seattle, Washington.

☆ Netflix and Other Streaming Platforms Are Embracing Ads—but Will the Advertisers Love Them Back?
▼ + stars: | 2022-10-18 | by ( Suzanne Vranica | ) www.wsj.com time to read: 1 min

As big streaming services roll out new ad-supported plans, marketers still face challenges with streaming ads. Marketers are excited that more streaming platforms are embracing advertising, but they say running ads on streaming services remains rife with challenges. The streaming industry’s two largest players, Netflix Inc. and Walt Disney Co.’s Disney+, are preparing to launch ad-supported versions of their platforms in the coming months. They will be joining a crowded field that includes streaming services owned by media companies—such as Comcast Corp.’s Peacock, Warner Bros. Discovery Inc.’s HBO Max and Paramount Global ’s Pluto TV—and device makers such as Roku Inc.’s Roku Channel and Amazon.com Inc.’s Freevee.

☆ Streaming Platforms Are Embracing Ads—but Will the Advertisers Love Them Back?
▼ + stars: | 2022-10-18 | by ( Suzanne Vranica | ) www.wsj.com time to read: 1 min

☆ Cramer's lightning round: Wait for Texas Roadhouse to come down
▼ + stars: | 2022-10-17 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

I like profitable companies with good balance sheets. Loading chart...Veru Inc : "A lot of people bet against it, so it could be a very binary, up big, down big situation." Loading chart...Texas Roadhouse Inc : "We have to wait for that one to come down, because it's had too big a move." Loading chart...Organon & Co : "We are going to find out what this story is, and then we're going to come back to you." Dice Therapeutics Inc : "I can not recommend it, particularly because the company is losing money hand over fist."

Latinos are underrepresented in the media industry workforce across film, radio, television, newspapers and digital platforms, according to the report. Latinos are 19% of the nation's population, almost 1 in 5 Americans, and 18% of workers outside the media industry. The largest percentage of Hispanic media industry workers were employed in service worker positions (19%) — which include food, cleaning and personal and protective services, according to the latest available reports submitted by media companies to the U.S. In positions that can influence the content audiences consume, Latinos were far less represented: They made up only 7% of professional media industry positions such as actors, producers, directors, writers, reporters and editors. When Latinos did see themselves represented in content, they felt "it was inaccurate" in most cases, de Armas said.

☆ How much media and tech giants from Spotify to TikTok pay employees in the US
▼ + stars: | 2022-05-30 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +12 min

Insider analyzed US pay data to see what eight media and tech giants offer top talent. Streaming fused media with technology, urging media companies to think like tech platforms and tech giants to move into content. These are base salaries, and do not include other forms of compensation such as stock options or cash bonuses. DisneyDisney and its US streamer Hulu offered base salaries ranging from $93,150 to $242,000 per year, according to wages from 132 foreign-labor-certification applications. Most of the salaries were for streaming and tech jobs, including data scientist and software engineer roles.

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