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Warner Bros. Discovery, Inc. (WBD)
NASDAQ: WBD · Real-Time Price · USD
28.17
-0.63 (-2.19%)
At close: Feb 27, 2026, 4:00 PM EST
28.26
+0.09 (0.32%)
After-hours: Feb 27, 2026, 7:58 PM EST

Revenue Breakdown

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20
Distribution Revenue
19.26B19.70B
Distribution Revenue Growth
-2.23%-2.65%
Advertising Revenue
7.31B8.09B
Advertising Revenue Growth
-9.69%-7.01%
Content Revenue
9.65B10.30B
Content Revenue Growth
-6.31%-8.09%
Other Sources Revenue
1.08B1.23B
Other Sources Revenue Growth
-12.33%4.40%
Revenue (Total)
37.30B39.32B
Revenue (Total) Growth
-5.15%-4.84%

Revenue Breakdown 2

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20
Streaming Revenue
10.88B10.31B
Streaming Revenue Growth
5.46%1.57%
Studios Revenue
12.62B11.61B
Studios Revenue Growth
8.72%-4.80%
Global Linear Networks Revenue
17.66B20.18B
Global Linear Networks Revenue Growth
-12.49%-5.03%
Eliminations from Revenue
-3.86B-2.77B
Revenue (Total)
37.30B39.32B
Revenue (Total) Growth
-5.15%-4.84%

Adjusted EBITDA

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20
Streaming Adjusted EBITDA
1.37B677.00M
Streaming Adjusted EBITDA Growth
102.36%557.28%
Studios Adjusted EBITDA
2.55B1.65B
Studios Adjusted EBITDA Growth
54.06%-24.32%
Global Linear Networks Adjusted EBITDA
6.41B8.15B
Global Linear Networks Adjusted EBITDA Growth
-21.32%-10.08%
Corporate Adjusted EBITDA
-1.10B-1.26B
Eliminations from Adjusted EBITDA
-487.00M-186.00M
Operating Income (Total)
738.00M-10.03B

Key Performance Indicators

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20
Domestic Subscribers
59.20M57.10M
Domestic Subscribers Growth
3.68%9.81%
International Subscribers
72.40M59.80M
International Subscribers Growth
21.07%31.14%
Global Streaming Subscribers
131.60M116.90M
Global Streaming Subscribers Growth
12.57%19.65%
Domestic ARPU
10.7911.89
Domestic ARPU Growth
-9.25%6.16%
International ARPU
3.803.85
International ARPU Growth
-1.30%-
Global ARPU
6.927.76
Global ARPU Growth
-10.82%-0.26%
Updated Feb 26, 2026. Data Source: Fiscal.ai.