HBO Max drives $3 million in streaming revenue growth, offset by NBA ad losses ahead of proposed Paramount merger.
Warner Bros. Discovery reported a 10% year-over-year increase in streaming revenue, reaching $3 million in the second quarter. The gain was fueled by HBO Max expansion into new markets and a strong content slate, including shows like *House of the Dragon* and *Euphoria*. Adjusted earnings before interest, taxes, depreciation, and amortization exceeded $500 million for the segment.
Advertising revenue for streaming rose 9%, driven by growth in global ad-lite subscribers. However, the loss of NBA media rights reduced year-over-year ad growth by 16%, excluding currency impacts. The company expects stronger performance in the second half of 2024 with upcoming releases like *Harry Potter* and *Gilded Age*.
The results come as Warner Bros. Discovery faces regulatory scrutiny over its proposed merger with Paramount Skydance, which would combine HBO Max and Paramount+ into a single platform. A trial is scheduled for March following legal challenges by state attorneys general.