Warner Bros. Discovery, Inc. Series A (WBD)

Over the past six months, Warner Bros. Discovery's stock price has experienced notable movements. As of July 18, 2025, the share price was $12.75, a 49.12% increase over the past year. In May 2025, a weak earnings report led to speculation about spinning off cable channels, causing a stock jump. The streaming unit (Max) added 5.3 million subscribers in Q1 2025, with streaming revenue growing 8%. The company's focus on high-quality content and Max's global rollout have driven subscriber growth. Analysts have revised downward revenue expectations for FY2025, while the stock price has increased.

Demand for Warner Bros. Discovery's products and services exhibits seasonality. Box office performance is tied to major film releases during summer and holidays. Streaming content releases drive subscriber growth. Linear television viewership fluctuates with programming and sports events. Advertising revenue is seasonal, peaking during high viewership. School holidays and vacations increase demand for entertainment content.

Warner Bros. Discovery (WBD) is a global media and entertainment conglomerate formed in 2022 from the merger of WarnerMedia and Discovery, Inc. The company operates in the Communication Services sector, specifically within the Media and Entertainment industry. WBD integrates content creation, distribution, and monetization across platforms, generating revenue through subscription services, advertising, box office, home entertainment, and licensing. Its operations are divided into Studios, Networks, and Direct-to-Consumer (DTC) segments, featuring brands like Discovery Channel, Max, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Warner Bros., Cartoon Network, Adult Swim, Turner Classic Movies, Harry Potter, Looney Tunes, Scooby-Doo, Game of Thrones, and Friends.

Warner Bros. Discovery operates in over 220 countries and territories, producing content in 50 languages. The Max streaming service is available in over 70 countries, with planned launches in the United Kingdom & Ireland, Germany, and Italy. The United States accounts for 67.8% of its net sales.

Warner Bros. Discovery's brand reputation has been influenced by several key events. The "Barbie" campaign received awards for its commercial success. The Max streaming service will be rebranded back to HBO Max in the summer of 2025 to emphasize quality content. Warner Bros. Television performed well, but the Motion Pictures Group and Games division had subpar results. Industry strikes and challenges in the sports rights market have also impacted the company. WBD's decision to split its business into two separate companies is a significant restructuring.

Warner Bros. Discovery is a publicly traded company, primarily owned by its shareholders. Institutional shareholders own 66.13% of the company's stock, with major holders including Vanguard Group Inc. and BlackRock, Inc. Insiders own 30.58% of the company, with Steven O. Newhouse being the largest individual shareholder, owning 16.02% of the company.