Warner Bros. Discovery Report. had 92.1 million subscribers in the first quarter since the merger

In its first quarter as a unified entity, Warner Bros. Discovery posted a domestic loss of 300,000 subscribers but international revenue of 2 million – bringing the media and entertainment conglomerate’s total subscribers for the second quarter to 92.1 million. That number includes HBO Max and Discovery+ subscribers, plus the HBO app.

For the first quarter, WarnerMedia reported 76.8 million HBO or HBO Max subscribers in the previous quarter, and Discovery reported 24 million direct-to-consumer subscribers – which together represent a decline in subscriber numbers. signed from Q1 to Q2. Although this loss is moving into Q2, The Hollywood Reporter reported that Cowen analysts had previously upgraded Warner Bros. Discovery to outperform its own predictions since CEO David Zaslav announced plans to not spend Netflix or other competitors.

“Performance will depend heavily on CEO David Zaslav’s ability to blend the different cultures of the two companies and navigate his relationships with the community,” the Cowen analysts wrote. Hollywood.

However, at the time of this writing and shortly after the Q2 earnings call, Warner Bros. Discovery. dropped 10% from 17.48 to 16.03.

Warner Bros. Discovery hopes to reach 130 million global subscribers by 2025.

Netflix, formerly the top streaming service, has enjoyed some success this year. In its Q2 report back in July, the company experienced the largest subscriber shuffle in its history–lost almost a million subscribers in a quarter.