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Shares of Warner Bros. Discovery (WBD) are trading lower after the company reported first quarter earnings and revenue that missed Wall Street expectations. Yahoo Finance's Alexandra Canal joins Morning Brief to break down the company's earnings and its latest move in streaming game.
The entertainment giant announced during its earnings call that it will roll out a new streaming bundle this summer with Disney (DIS), which will include Max, Disney+, and Hulu. The move is the company's latest effort to drive incremental subscriber growth and increase retention as streaming bundles have gained more traction in the last year.
The price of the joint streaming bundle has yet to be announced, however, the company said it will be based on the current price of Max, which is among the more expensive services on the market.
The announcement came as Warner Bros. Discovery saw streaming momentum in its fourth quarter, with Max topping Street estimates by adding 2 million subscribers. As its linear networks continue to struggle, the company is looking for more opportunities in the streaming space to drive up overall revenue.
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This post was written by Melanie Riehl