Warner Bros. Discovery, Inc.

WBDintermediary

Warner Bros. Discovery is a global media company formed by the 2022 merger of WarnerMedia and Discovery. It operates the Max streaming platform, Warner Bros. studios, HBO, CNN, and a portfolio of cable networks.

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Products & Revenue

Product Revenue Share

Revenue Breakdown ($41.3B)

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Studios (35%)

Networks (48%)

DTC (Max) (17%)

Segment Breakdown & Key Customers

Product Details

Max Streaming20%

Direct-to-consumer streaming platform combining HBO and Discovery content

Warner Bros. Studios30%

Film and television production including DC, Harry Potter, and original content

Cable Networks35%

CNN, TNT, TBS, Discovery Channel, HGTV, Food Network, and other linear channels

Gaming15%

Warner Bros. Interactive Entertainment gaming division

Supply Chain Relationships

Competitors

The Walt Disney Company

Streaming, theatrical releases, TV networks

Impact: High — multi-segment competitor

Netflix, Inc.

Streaming content

Impact: High — streaming rival

Partners

Comcast Corporation

Content licensing and distribution

Impact: Medium — distribution partner

Macro & Market Context

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광고 회복 + 스트리밍 수익화 + AI 검색 전환 리스크 — 옥석 가리기

글로벌 디지털 광고 성장

+11% YoY

Netflix 유료 구독자

3.01억 명

YouTube 광고 수익 YoY

+21%

AI 검색 점유율 (US)

11%

Upcoming Catalysts

◆Alphabet·Meta·Netflix Q1 실적 (2026.04~05)◆Google I/O AI Search 업데이트 (2026.05)◆FTC·DOJ Meta·Google 반독점 판결 일정

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Company Info

Headquarters

New York, New York, USA

Founded

2022

Employees

40,000+

Website

wbd.com

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