A sign outside of the Warner Brothers Discovery Techwood Turner Broadcasting campus is seen on June 26, 2024 in Atlanta, Georgia.
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Warner Bros. Discovery said Thursday it added 6.4 million global streaming subscribers in the fourth quarter for a total of 116.9 million subscribers.
Fourth-quarter revenue for the streaming segment, which is anchored by flagship service Max, totaled $2.65 billion, up 5% from $2.53 billion in the same quarter last year. Adjusted earnings before interest, taxes, depreciation and amortization for the unit came in at $409 million, compared to an adjusted EBITDA loss of $55 million in the fourth quarter of 2023.
In a shareholder letter, the company forecast adjusted EBITDA of $1.3 billion for its streaming business for the year — roughly double the $677 million adjusted EBITDA it reported for 2024 — and said it has a “clear path” to hit 150 million global subscribers by the end…
