WBD CEO: “Italy a key market”
February 7, 2024
From Branislav Pekic in Rome
Italy is a strategic market for Warner Bros Discovery (WBD), and CEO David Zaslav plans to increase investments there.
Speaking at a Milan Town Hall for employees, Zaslav praised the creativity of the Italian team and highlighted their success in generating revenue and diversifying income streams. He said that WBD will invest in both linear TV and streaming in Italy.
The company was the top Hollywood studio at the Italian Box Office for the first time in 2023, and they plan to continue producing local content.
According to Zaslav, linear TV remains a key growth area for WBD in Italy, despite the focus on streaming. In 2023, WBD finished as the third national broadcaster by share (over 8 per cent), with an increase of 8 per cent over 2022, which had an impact on advertising revenue.
WBD currently has an exclusive agreement with Sky Italia for the distribution of HBO content until 2025.
Zaslav pointed out that “content is king” for WBD, and they will continue to invest in creating high-quality content for the Italian market.
WBD produces 17 multi-platform channels in Italy in addition to the discovery+ OTT service.