Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) said on Wednesday it will reintroduce the “HBO” brand to its flagship streaming service, renaming Max to HBO Max this summer, in a reversal of a much-criticized rebrand that had left both consumers and industry observers puzzled. The announcement came during the company's annual Upfront presentation in New York, where executives highlighted the strength of WBD's streaming turnaround, citing $3 billion in improved profitability over two years and 22 million new subscribers in the past year.
Warner's decision to drop HBO from HBO Max in 2023 followed its move to merge its HBO dramas and Warner Bros' content across top franchises like "Harry Potter" and DC's "Batman" with the content library from Discovery.
Warner Bros. Discovery is renaming its streaming platform again starting this summer, restoring a name it ditched just two years ago.
Warner Bros. Discovery (WBD) has been one of the stocks most watched by Zacks.com users lately.
Shares of media company Warner Bros. Discovery (WBD) popped Thursday following reports that the company was considering a split.
WBD's first-quarter 2025 results reflect sluggishness in overall advertising and distribution revenues.
Shares of Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) rose nearly 5% on Wednesday after CNBC reported the media conglomerate is considering a split that would separate its legacy cable networks from its film studio and streaming businesses. The proposed move, which has not been formally announced, would see the company spin off its linear cable and news assets into a separate entity while keeping its film studios, including DC, and streaming platform Max, according to CNBC's David Faber, citing people familiar with the matter.
WBD chief executive David Zaslav said an internal reorganization into two operating divisions, Global Linear Networks and Studios & Streaming, means “we can move quickly if we decide to change and make a determination on restructuring.
The company missed first-quarter revenue estimates and posted a larger-than-expected loss due to a sluggish box office performance and ongoing declines in cable.
Warner Bros. Discovery (WBD) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.12.
Shares in Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) fell by around 2% in Thursday's trade after the media conglomerate reported a 10% drop in first-quarter revenue, to $8.98 billion. The parent company of media brands including Max, HBO, WB, Discovery, TNT, DC Comics, and CNN made a net loss of $453 million over the three month period.
The media and entertainment company recorded a smaller loss, but lower sales, as weakness in linear TV offset gains in streaming.