Warner Bros Discovery's first-quarter financial results revealed a blend of successes and challenges. While overall revenues dipped 9% year-over-year to $9.0 billion, the company’s streaming service, Max, showcased significant growth. The platform added an impressive 5.3 million subscribers during the quarter, bringing its total subscriber base to 122.3 million.
WBD projects reaching a substantial 150 million global subscribers by the end of 2026. This ambitious goal is supported by ongoing international expansion. Max recently launched in Australia and Turkey, and plans to enter more than a dozen additional territories in 2025, eventually expanding its reach to 85 markets worldwide. The service, combining the strengths of HBO and Discovery, is slated to debut in the UK and Germany in 2026.
While revenue from film and linear advertising decreased, streaming advertising revenue demonstrated remarkable growth, increasing by 35%. This surge is attributed to the popularity of the Max ad-supported tier. The success of European original productions, such as The Eastern Gate (Poland) and When No One Sees Us (Spain), also contributed significantly, with both ranking among Max's most-watched European shows in the United States since 30 Coins.