Sales are dressed in uncertainty
Warner Bros. Discovery has completed his American TV in advance, but has not announced how many advertising income it has secured. This omission is striking. Competitors such as NBCUIversal, Fox, Disney, Paramount and Televisaunivision have released all data that show stable or increased advertisements.
In a shareholders’ letter released on Thursday, Warner Bros. Discovery that “enjoyed strong prices and resilient demand for sports programming and sturdy prices for general entertainment.” However, it did not specify whether the total volume of deals was up or down compared to 2024. Historically speaking, a lack of details such as this often indicates a decline.
Impact of losing NBA broadcasting rights
An important factor that influences the situation of Warner, is the loss of NBA rights -a relationship that goes back to 1989. The absence of the competitions of the competition from his networks, starting at the end of 2025, is expected to be the company $ 1.1 billion in TV -advertisements in TV -advertisement by 2026. Moffettnathanson analysts Robert Fishman.
In the meantime, NBCUIVERSAL, who recently concluded an 11-year-old NBA right agreement, reported a record sale in advance. NBC said his NBA-related advertising obligations grew by 15% and that 25% of those advertisers were new in traditional TV. Other networks also benefited from upcoming large events, such as the Super Bowl, Winter Olympics and FIFA World Cup.
Careful optimism of Warner Execs
On a call with investors, Warner CFO Gunnar Wiedenfels, who will soon lead a new spider from Warner’s TV assets, made an optimistic tone. “We have seen the prices in all categories, and more in sport than in general entertainment,” he said. “On the digital side there is some price pressure, but we have retained a very strong prize premium for the quality of the inventory that we deliver.”
A strategic intersection
The end of the NBA deal from Warner can free cash for investments in other content. But without sports programming, the company loses an important sales argument for advertisers. In his shareholders’ letter, Warner clearly recognized this challenge: “We will not start the NBA in the US in the fourth quarter, which will influence both the income of advertisement and the costs of income.”
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