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Discovery reported strong Q2 2021 financial results, with total revenues of $3,062 million, marking a 21% increase year-over-year. U.S. advertising revenues increased 12%, while International advertising revenues surged 88%. The company achieved 17 million direct-to-consumer subscribers, contributing to a remarkable 130% revenue growth in its next-gen businesses. However, total operating expenses rose 33%, impacting profits slightly. Free cash flow decreased 14% to $757 million, reflecting higher content investments.
Discovery (Nasdaq: DISCA, DISCB, DISCK) will release its second-quarter 2021 financial results on August 3, 2021, at 7:00 a.m. ET. A conference call will follow at 8:00 a.m. ET to discuss the results, available via a live audio webcast on Discovery's website. A replay of the call will be accessible shortly after its conclusion until August 10, 2021, via phone and webcast. Discovery is a leader in real-life entertainment, offering over 8,000 hours of original programming annually and reaching audiences in 220 countries through various platforms.
The HGTV Smart Home 2021 sweepstakes, located in Naples, Florida, closed on June 11, 2021, with a prize package valued over $1.1 million. The package includes a fully furnished home, a 2021 Mercedes-Benz E-Class Cabriolet, and $100,000 from LendingTree. Eligible participants could enter twice daily at HGTV.com. The home features three bedrooms, three bathrooms, and modern amenities, designed by Tiffany Brooks. HGTV is owned by Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK), a global leader in entertainment, distributed to over 86 million households.
On June 7, 2021, GAC Media, LLC announced the acquisition of the Great American Country (GAC) Network from Discovery, Inc.. This marks a strategic investment in family-friendly programming, as GAC reaches approximately 40 million households. Concurrently, GAC Media acquired RIDE TV, a 24-hour equestrian channel. Bill Abbott will serve as President & CEO, aiming to enhance advertising and distribution opportunities. Details on the transaction's financial terms were not disclosed, but GAC Media seeks to innovate and expand family-oriented content.
Discovery (Nasdaq: DISCA, DISCB, DISCK) announced that President and CEO David Zaslav will present at Credit Suisse's 23rd Annual Communications Conference on June 15, 2021, at 8:35 a.m. ET. A webcast link will be available in the 'Investor Relations' section of Discovery's website, with an on-demand replay accessible shortly after the presentation. As a global leader in real-life entertainment, Discovery delivers over 8,000 hours of original programming annually and reaches audiences in over 220 countries across multiple platforms.
Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK) announced the new name for the upcoming standalone global entertainment company formed by combining WarnerMedia and Discovery assets: Warner Bros. Discovery. This new entity aims to blend Warner Bros.' storied creative legacy with Discovery's global storytelling reach. The merger will create a content powerhouse with nearly 200,000 hours of programming and over 100 beloved brands. Through this venture, the company intends to enhance original content investment and broaden consumer access through innovative streaming solutions.
Discovery (Nasdaq: DISCA, DISCB, DISCK) announced that CFO Gunnar Wiedenfels will present at the Evercore ISI Inaugural TMT Conference on June 7, 2021, at 1:15 p.m. ET. Investors can access the presentation via a webcast link available on the company's Investor Relations website. Discovery is a global leader in real-life entertainment, delivering over 8,000 hours of original programming annually and reaching audiences in over 220 countries. The company operates several well-known brands, including Discovery Channel and HGTV, and offers various direct-to-consumer streaming services.
Discovery (Nasdaq: DISCA, DISCB, DISCK) announced that President and CEO David Zaslav will deliver a keynote presentation at the 2021 J.P. Morgan Global Technology, Media and Communications Conference on May 26, 2021, at 8:00 a.m. ET. A webcast link will be available in the "Investor Relations" section of Discovery's website, with an on-demand replay to follow.
Discovery is a global leader in real-life entertainment, delivering over 8,000 hours of original programming annually and reaching audiences in over 220 countries.
Discovery (Nasdaq: DISCA, DISCB, DISCK) announced that President and CEO David Zaslav will speak at the 2021 MoffettNathanson Media & Communications Summit on May 12, 2021, at 12:00 p.m. ET. A webcast of the presentation will be accessible via the Investor Relations section of Discovery's website, with an on-demand replay available shortly after the event.
Discovery is a leader in real-life entertainment, delivering over 8,000 hours of original programming annually, reaching audiences in over 220 countries.
Discovery, Inc. reported Q1 2021 financial results, showcasing a 4% revenue increase to $2,792 million. However, net income dropped 63% to $140 million, and diluted earnings per share fell to $0.21. The company highlighted strong growth in direct-to-consumer subscribers, reaching 15 million, primarily driven by discovery+. U.S. advertising revenues decreased 4%, while international advertising revenues rose 16%. Total Adjusted OIBDA declined 25% to $837 million. The company anticipates continued momentum in subscriber growth and viewer engagement across platforms.
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