Warner Bros. Discovery Q2 Profit Plunges 91% on Linear TV Challenges, Lower Theatrical Revenue

['Lucas Manfredi', 'Lucas Manfredi Is A Tv Business Reporter At Thewrap', 'Writing About The Programming', 'Executives', 'Trends In The Television', 'Streaming Industries. Prior To Joining The Thewrap In November', 'He Spent Four Years At Fox Business As A Production Assistant', 'A Reporter On Its Digital Team. He Has A Bachelor Of Science In', '.Wp-Block-Post-Author Box-Sizing Border-Box Display Flex Flex-Wrap Wrap .Wp-Block-Post-Author__Byline Font-Size Margin-Bottom Margin-Top Width', '.Wp-Block-Post-Author__Avatar Margin-Right .Wp-Block-Post-Author__Bio Font-Size Margin-Bottom .Wp-Block-Post-Author__Content Flex-Basis Flex-Grow .Wp-Block-Post-Author__Name Margin'] TheWrap 2026-08-06 12:05:36

Weighing on the results were a 22% decline in ad revenue, driven by the absence of the NBA and continued pay TV subscriber declines, and a 26% drop in content revenue due to lower theatrical, TV and games revenues. Streaming stays strongStreaming distribution revenue grew 12% to 2.7 billion, driven by HBO Max’s international expansion and growth in existing markets, including new distribution deals. Ad revenue climbed 9% to $306 million, driven by an increase in ad-lite subscribers. Streaming content released during the quarter included the latest seasons of “Euphoria,” “House of the Dragon,” “The Pitt” and “Hacks. “ Linear networks feeling the pressureGlobal linear network profits declined 4% to $1.45 billion and revenue fell 17% to $4 billion.