Warner Bros. Discovery’s Focus Will Be to “Compete” in Streaming, “Not Win the Spending War”
“We want to compete against Disney and Netflix, but we are a very different company,” Zaslav explained at the conclusion of the call. “Those are two great companies. Disney has a group of people around the world that absolutely loves their product, and they are doing very well. Netflix has a very broad-appeal product” and doing “a wonderful job building out that brand.” But Warner Bros. Discovery will rely on “very identifiable IP , and we are much broader than Disney,” Zaslav said.
With Discovery spending more than $4 billion in 2021 on content, the firm is currently at peak spending levels, Wiedenfels highlighted. “So, we are definitely spending enough from my perspective,” and “money doesn’t score goals,” but “the key question is going to be ‘how much is going to be enough going forward’.
He also argued that the merged firm would have “the most attractive content in the business,” including DC Comics, Looney Tunes, HBO, Oprah Winfrey, the Gaines, Discovery, CNN and sports at Eurosport. The companies with the “most appealing and complete” content offerings will win in the streaming age, he argued, so Warner Bros. Discovery will benefit from its “broad menu of content to super-serve every demo and every family member.
Zaslav on Thursday also highlighted that the merged firm won’t be “solely depend on one business model” and called Warner Bros. Television “one of the leading content arms dealers in the industry,” adding that “there are not a lot of content makers out there, certainly not of the scale and quality” of Warners. He concluded that overall, “we can monetize across any number of different cash registers.
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