Discovery ends 2021 with 22 million DTC subscribers

Thursday, February 24th, 2022 
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NEW YORK — Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK) today reported financial results for the quarter and year ended December 31, 2021.

Operational Highlights

  • Ended 2021 with 22 million DTC Subscribers*, an increase of 2 million subscribers since the end of Q3.
  • Generated $450 million of Next Generation Revenues* in Q4, and roughly $1.6 billion of Next Generation Revenues in 2021, growth of 80% versus the prior year.
  • Successfully transitioned the entirety of our discovery+ subscriber base across Europe onto the same technology platform as the U.S., which will deliver a more personalized content and viewing experience, and we expect will drive better consumer engagement and lower churn, as well as enabling an ad-lite advertising offering in key markets, beginning in March in the UK.
  • Broadcast the Olympic Winter Games from Beijing and produced strong results across Discovery’s European television network and streaming products. discovery+ drove an increased number of new paid streaming subscribers, the total of which exceeded PyeongChang 2018 by almost 50%. Additionally, well over half of all new Olympics subscribers engaged with discovery+’s entertainment content, reinforcing the increased depth and value of our offering.

BT Group Joint Venture

In February 2022, the Company confirmed that it was in exclusive discussions with BT Group to create a 50:50 joint venture by combining its Eurosport business in the UK and Ireland with BT Sport, subject to a definite agreement and regulatory approval. The companies are aiming for the joint venture to be operational in 2022.

* Direct-to-Consumer (“DTC”) Definitions:

  • Next Generation Revenues: Subscription and advertising revenues generated from the Company’s DTC products, as well as revenues from TV Everywhere, our GO applications and other digital properties.
  • DTC Subscription: We define a DTC subscription as 1) a subscription to a DTC product for which we have recognized subscription revenue from a DTC platform; 2) a subscription received through wholesale arrangements for which we receive a fee for the distribution of our DTC platforms, as well as subscriptions provided directly or through third-party platforms; and 3) a subscription recognized by certain joint venture partners and affiliated parties. We may refer to the aggregate number of subscriptions across our DTC services as subscribers. A subscription is only counted if it is on a paying status, and excludes users on free trials. At the end of each quarter, subscribers include the actual number of users that rolled to pay up to seven days immediately following quarter end.

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