Warner Bros. Discovery, Inc. - Series A · NASDAQ:WBD
Warner Bros. Discovery, Inc. - Series A — ViacomCBS — Q3 2020 Earnings Presentation
11 slides from Warner Bros. Discovery, Inc. - Series A's earnings presentation, November 2020
Slide 1: Q3 2020 Earnings
Q3 2020 x yy % EARNINGS ,7 4 CBS
Slide 2: Important Information
IMPORTANT INFORMATION This communication contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 2
Slide 3: ViacomCBS: Q3 Key Themes
VIACOMCEBS: Q3 KEY THEMES UNLOCKED 3 POWER OF 2 FOCUSED ON COMBINATION Q3 RESULTS STREAMING IN YEAR ONE ILLUSTRATE GROWTH CONTINUED OPPORTUNITY MOMENTUM VIACOMCBS 2
Slide 4: Power of Combination in Year One
▪ ‒ Recently created new consolidated streaming organization ▪ ‒ Drove growth in subscribers, MAUs, and revenue ‒ Added substantial content from across the portfolio ‒ Improved monetization at Pluto TV ▪ ‒ Expanded our footprint through cross-company renewals and new deals ▪ ‒ Leveraged power of the
Slide 5: Q3 results illustrate continued momentum
▪ Domestic streaming & digital video revenue at an ▪ CBS was once again the most-watched network annual run-rate of $2.5B and growing more than 50% across Primetime, Daytime and Late Night during as of Q3 the 2019-2020 broadcast year ▪ Grew affiliate revenue 10%, a significant improvement ▪ Maintain
Slide 6: Focused on streaming growth opportunity
▪ ▪ ‒ Domestic streaming subscribers grew 72% to 17.9M ▪ Both CBS All Access and Showtime OTT had significant growth in consumption and sign-ups ▪ Strong conversion of free trials to paying subs on both platforms ‒ On track to launch Paramount+ in early 2021 ▪ ‒ Pluto TV advertising revenue more tha
Slide 7: Financial Results
FINANCIAL RESULTS
Slide 8: Financial results summary by segment
($ in millions) ($ in millions, except per share data) ($ in millions) * See page 1 for information regarding non-GAAP financial measures. Adjusted FCF of $1,497M represents free cash flow adjusted to exclude payments for restructuring, merger-related costs and costs to achieve synergies of $164M. (
Slide 9: Revenue growth drivers and advertising improvement
(Y/Y Growth Rate) (Y/Y Growth Rate) ▪ ▪ ‒ Growth fueled by strength in subscription streaming ‒ A significant improvement relative to the year-over- revenue, as well as higher reverse comp, year decline experienced in Q2, despite continued retransmission fees, and incremental carriage headwinds from
Slide 10: Liquidity and debt maturities
▪ ‒ Maintain a $3.5B undrawn revolving credit facility ‒ No debt maturities until 2022 following successful refinancing transactions completed earlier this year ▪ ▪ * See page 1 for information regarding non-GAAP financial measures. 9 (1) Leverage calculations include benefit of merger-related cost
Slide 11: CBS brands
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