In a presentation to investors, Warner Bros. Discovery CEO David Zaslav said the company's streaming business is "no longer bleeding" after a successful first quarter of 2023.
WBD had several quarters of streaming losses before posting a $50 million profit in Q1.
- Zaslav
assured investors that, with "this business under control," the company
can now focus on "nourish[ing] and delight[ing] subscribers with the
greatness of HBO."
- Zaslav also indicated the company is looking to bring more news and sports content to its streaming platforms.
- According
to WBD CEO and President of Global Streaming JB Perrette, the company
will focus on migrating current HBO Max consumers over to the new Max
platform, which also incorporates content from Discovery+.
- Zaslav didn't mention the WGA strike
during his presentation or earnings call on Friday; in an appearance on
CNBC's "Squawk Box" this week, he suggested that the writers will
return because of "a love for the business and a love for working."
- The new Max platform launches on May 23.
