Discovery reached 20 million DTC subscribers by the end of Q3 2021, 3 million more than in the previous period, and a big part of that increase was driven by the growth of its OTT Discovery +, which was recently launched in Brazil through Globoplay and that, according to the brand, will soon reach the rest of Latin America individually.
Also, the company expects the service to expand further when Discovery completes its merger with WarnerMedia in the middle of next year, and joins the HBO Max offering. David Zaslav, CEO of Discovery, said: “We are very excited about our pending merger with WarnerMedia and the opportunity to bring these two companies together, combining iconic and globally appreciated brands and franchises, and positioning ourselves to boost more efficiently the global scale across the combined portfolio”.
In addition, regarding the results obtained in the last quarter, he explained: “We achieved double-digit growth in advertising and distribution revenues, as we doubled the revenues of the next generation year after year“. “This strong performance once again drove very healthy cash flows during the quarter, further strengthening our balance sheet and financial profile“, Zaslav added.