Warner Bros. Discovery has decided it can’t be all things to all of the consumers that touch its many film, television and streaming brands. So the company is partnering with rival Disney on a streaming bundle to combat the issue bedeviling Hollywood: subscriber churn.
“Churn is just the killer in this business,” Warner CEO David Zaslav said on the earnings call Thursday, when the media and entertainment giant reported yet another quarter dripping with red ink.
WBD missed most Wall Street estimates on Thursday. But analysts shrugged off the poor results, choosing instead to press executives for more clarity on the joint Disney+-Hulu-Max bundle that Disney and Warner announced Wednesday.