WBD · 8-K · 20260806PR000072

Streaming Segment Performance

Warner Bros. Discovery, Inc. · 2026-08-06 · Importance 37 · Surprise 32 · In source text

Streaming revenue increased 10% ex-FX to $3,079 million, with subscriber-related revenue up 10% ex-FX to $2,995 million. Streaming distribution revenue increased 11% ex-FX, driven by existing-market growth, HBO Max international expansion and new distribution deals. Streaming advertising revenue increased 8% ex-FX to $306 million, primarily from global ad-lite subscriber growth, although the absence of the NBA reduced the growth rate by 16% ex-FX. Streaming Adjusted EBITDA increased 63% ex-FX to $512 million as revenue growth exceeded the increase in operating expenses.

Key facts

• Streaming total revenues: $3,079 million for three months ended June 30, 2026. source
• Streaming subscriber-related revenues: $2,995 million for three months ended June 30, 2026. source
• Streaming costs of revenues (excluding depreciation & amortization): $1,904 million for three months ended June 30, 2026. source
• Streaming Adjusted EBITDA: $512 million for three months ended June 30, 2026. source
• Streaming selling, general and administrative expense: $663 million for three months ended June 30, 2026. source
• Streaming revenues increased 10% ex-FX to $3,079 million compared to the prior year quarter. source
• Streaming operating expenses increased 3% ex-FX to $2,567 million compared to the prior year quarter. source

Impact estimates