Warner Bros. Discovery CFO says company's streaming services are 'underpriced'
for Disney+, ESPN+ and Hulu last month, including bumping the price of Disney+ without ads from $7.99 per month to $10.99 per month.
Warner Bros. Discovery set new streaming subscriber targets last month, including targeting 130 million global subscribers by 2025. The company also reaffirmed its expectation for its streaming business to break even by 2024 and yield $1 billion in profit by the end of 2025. Warner Bros. Discovery isn't chasing subscriber growth at all costs, said Wiedenfels. That change — to prioritize profitability over growth — allows the company more "pricing power" over its streaming businesses, said Wiedenfels.
"We're not optimizing for subscribers," said Wiedenfels, who called that type of strategy "old-world streaming" thinking.WATCH: Warner Bros. Discovery punts two sequels as company looks to cut costs
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