MarketPR

WBD streaming tops $3 billion as management builds toward 2027

8/7/2026

Streaming revenue at Warner Bros. Discovery (WBD) crossed $3 billion for the first time in the second quarter of 2026, with subscriber-related revenue growing 10% on a 200 basis point sequential acceleration.

The division posted a 17% adjusted EBITDA margin, reversing losses recorded in 2022.

Management reaffirmed confidence in the pending sale to Paramount Skydance and pointed to 2027 as the year the content slate justifies the setup.

The streaming print HBO Max drove the milestone through global expansion and a pair of high-engagement series. "The Pitt" and "House of the Dragon" averaged more than 25 million viewers per episode during the quarter.