Details are still under wraps about AT&T’s upcoming OTT service, but the company’s execs said Wednesday that the Disney+ announcement (and its relatively cheap price point) gave them more optimism about what their own service will offer consumers. (Adweek)
Telecom giant AT&T, led by chairman and CEO Randall Stephenson, on Wednesday reported higher first-quarter financials for its WarnerMedia unit amid growth across all units and said it lost 83,000 subscribers at its DirecTV Now streaming service in the period after a 267,000 subscriber drop in the fourth quarter. (THR)
WarnerMedia, home of Turner, Warner Bros. and HBO, reported results on a pro-forma basis. It posted $8.38 billion in revenue, just below analysts’ estimates of $8.45 billion but up from $8.1 billion in the year-ago quarter. But the operating income grew 11.6 percent to $2.24 billion, with margins still at a healthy 26.8 percent. (Deadline)
Warner Bros. operating income was up 42.8 percent on theatrical revenue gains of 12.7 percent (largely from Aquaman carryover); Turner was up 7.0 percent; and HBO grew 6.0 percent year over year. (Variety)