$WBD Expecting network linear to decline $500mil y/y, to around $5bil rev. adjt EBITDA of $2.2bil.
If you look at Studio, box office has $621mil domestic so far in '24, or 30% of all domestic box office. Last year, all of domestic box office was $1.4bil. Obviously there is
Ryan🔋 Hopeful for ~2mm net adds on DTC. Remember that there is usually some slippage with rolling out Max in new territories. They also need to offset linear HBO losses. Still, I think DTC has a strong quarter but I wouldn’t expect profitability due to costs with LATAM and EU prep.