Warner Bros. Discovery (WBD) stock rallied 5.05% during Friday's intraday trading session, as the media giant's strong subscriber growth, rising streaming profitability, and strategic moves outweighed concerns over linear TV pressures.
The company reported adding 6.5 million new subscribers in Q4 2024, reaching a total of 117 million globally. More significantly, WBD's direct-to-consumer streaming business contributed nearly $700 million in EBITDA, marking a $3 billion improvement over the past two years. The company now expects to reach at least 150 million subscribers by the end of 2026, driving further revenue and profit growth.
WBD also struck multiyear renewal agreements with five of the six largest cable/satellite TV providers in the U.S., providing stability to its linear television business. However, the company acknowledged near-term pressures in this segment, with weaker ad sales and a shift toward slower rate increases from providers.
In a strategic move, WBD announced a new organizational structure aimed at enhancing flexibility and unlocking shareholder value. While the company did not provide full-year financial guidance for 2025, citing uncertainties, the market appeared to focus on the positive subscriber gains and streaming momentum.
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