Warner Bros. Discovery ups Q1 streaming operating income 29%, revenue increases 9% to $2.9 billion. May 6, 2026 Warner Bros. Discovery May 6 reported "Streaming" segment operating income of $438 million for the first quarter (ended March 31), up 29% from operating income of $339 million in the previous-year period. Revenue increased 9% to almost $2.9 billion, from $2.65 billion. Distribution revenue, minus advertising, increased 9% to $2.53 billion, from $2.33 billion, as a result of the continued growth in existing markets and global expansion of HBO Max, including new distribution deals, partially offset by the domestic distribution deal renewal with a former related party previously disclosed in the second quarter of 2025. Advertising revenue from HBO Max's ad-supported tier increased 20% to $284 million, from $237 million. Content revenue decreased 23% to $68 million, from $88 million, due to the timing of third-party licensing deals. Subscription revenue increased 10% to $2.8 billion, from $2.6 billion. WBD, like other SVOD owner/operators, has stopped reporting subscriber data, including average revenue per subscriber (ARPU) on a quarterly basis. The platform remains on track to generate 150 million global subscribers by the end of the year. During the quarter, HBO Max premiered season two of "The Pitt" and the first season of "A Knight of the Seven Kingdoms," which averaged more than 20 million and 36 million global viewers per episode, respectively. Additionally, the quarter featured the premiere of the comedy "Rooster" and the limited series "DTF St. Louis," both of which resonated strongly with audiences, according to WBD. Notably, "Rooster" was the most-watched HBO comedy in more than 10 years and has already been renewed for a second season. "We are also pleased with our first-quarter launches of HBO Max in Germany, Italy, the U.K. and Ireland," CEO David Zaslav and CFO Gunnar Wiedenfels wrote in the shareholder letter. "To date, our U.K. and Germany launches have gone particularly well with retail subscriber acquisitions trending ahead of internal expectations, while Italy has been in-line. With these launches complete, our focus is now squarely on continuing to drive market penetration and greater monetization to support healthy subscriber-related revenue and adjusted pre-tax earnings growth for the foreseeable future." * Warner Bros. Discovery to Offer 'Warner Pass' Streaming Option in France Looking to diversify consumer access in France to HBO, Turner, Warner Bros. and Discovery content, Warner Bros. Discovery is launching "Warner Pass" on Amazon Prime Channels - the e-commerce behemoth's platform affording Prime members direct access to third-party streaming services... * Warner Bros. Discovery's MotorTrend Group Launches FAST Streaming Channel Warner Bros. Discovery business unit MotorTrend Oct. 26 announced the launch of a (FAST) free ad-supported streaming television channel. Available on Samsung TV Plus and Xumo, the FAST channel compliments MotorTrend+, the ad-free subscription streaming service dedicated entirely to the... * Warner Bros. Discovery to Combine Discovery+, HBO Max Streaming Services in 2023 Warner Bros. Discovery Aug. 4 officially said it plans to combine the Discovery+ and HBO Max subscription streaming platforms into a single service in the summer of 2023. The announcement by JB Perrette, CEO of global streaming and interactive, on... * Warner Bros. Discovery to Host Hybrid HBO Max/Discovery Streaming Unveil Media Event April 12 Warner Bros. Discovery March 30 announced that it would host a press event on April 12 at 1 p.m. ET (10 a.m. PT) to discuss the upcoming enhanced direct-to-consumer streaming product. The press event, which will be webcast for investors...

Reporting to CEO David Rawlinson II, Wellen joins from MotorTrend Group, where he served as CEO and President.