Warner Bros. Discovery Surges with Record Streaming Growth and Profit
Warner Bros. Discovery's streaming platform Max added 7.2 million subscribers in the third quarter, marking its largest single-quarter growth and bringing its total to 110.5 million subscribers. This growth comes as the company faces challenges in its traditional TV networks due to cord-cutting and a weak advertising market. Despite a 4% revenue decline to $9.62 billion, the streaming segment's revenue increased by 8% to $2.63 billion, driven by subscriber growth and higher advertising revenue. The streaming industry overall is seeing subscriber growth, with Netflix and Peacock also reporting increases.