Warner Bros. Discovery Reaches Elusive Full-Year Streaming Profit. But Netflix Did it First | Chart

Last week, Warner Bros. Discovery reported its Q4 earnings for 2023. There were several numbers for CEO David Zaslav to celebrate, but perhaps the most tempting fact to shout from the rooftops was that WBD became the first major Hollywood conglomerate to record a full year streaming profit — but only when counting HBO, which WBD did. 

But benchmarking against other legacy entertainment companies conveniently leaves Netflix out of the picture. Netflix has already reached profitability, and many are ready to declare it the winner of the streaming wars. 

The WBD share price was down by 13% at the open on Friday following the company’s earnings report.