Warner Bros. Discovery
Media and entertainment · United States
Warner Bros. Discovery makes and licenses films, series and TV channels, and sells HBO Max and discovery+ subscriptions; it agreed in 2026 to be acquired by Paramount Skydance.
What makes it different
Old TV channels still fund the streaming push.
$6.4BLinear networks Adjusted EBITDAFY2025
Global Linear Networks earned more Adjusted EBITDA than Streaming and Studios combined.
How big it is
How big is Warner Bros. Discovery?
$37.3BRevenueFY2025
131.6MStreaming subscribers2025
35,500Employees2025
How it makes money FY2025
Carriage fees, ads and content licensing.
- Distribution52%$19.3B
- Content26%$9.6B
- Advertising20%$7.3B
- Other3%$1.1B
How the business works
Own stories. License them. Stream direct.
- 1Studio and HBO libraries
- 2Channels and films to distributors
- 3HBO Max direct subscriptions
One piece of content earns from cinemas, carriage fees, advertising and subscriptions.
Who owns it
- The Vanguard Group11.2%
- BlackRock, Inc.6.2%
- State Street Corporation5.2%
CEO: David M. Zaslav
Who it competes with
AmazonKey moments
- 2020HBO Max launches in the U.S.
- 2021Discovery launches discovery+
- 2022WarnerMedia merger closes
- 2023Max launches
- 2025HBO Max reaches over 100 markets
Sources
Every number on this page comes from Warner Bros. Discovery's own reports.
Full profile
The rest of the story is in the app.
What Warner Bros. Discovery tracks19 metrics
Streaming subscribers
International subscribers
Domestic subscribers
Results, quarter by quarterwith a chart
Revenue
Profit
Margin
Where the money comes from2 regions
United States
Outside the United States
The full timeline16 moments
2024
2025
2026
Warner Bros. Discovery vs Netflixside by side
Revenue
Profit
People
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