David Zaslav, President and Chief Executive Officer, Discovery, Inc.:
Thanks. When you take a look at the premise of this deal, the reason that we have, we have a feeling, but we dont really know in the end, exactly what
were going to need to do. And thats why I think having the free cash flow and the optionality, and the ability to monetize across platforms is important. Having said that, we are, we want to compete against Disney and Netflix, but
were not, were very different company than the two of them. Those are two great companies.
Disney has a group, has a group of people around
the world that absolutely love their product, and theres, theyre doing very well. Netflix has a very broad appeal product, and Ted and Reed are doing a wonderful job building out that brand. They have built the road of getting people
comfortable, buying content and consuming it on all devices. We will have a very compelling offering. So, someone could have Netflix and theyll go there to watch, but we have very identifiable IP, which and much broader, itll be much
were much broader than Disney and were much we have much more identifiable IP.
And if you look at what Casey is doing with HBO,
he has Euphoria right now. He just had Succession, he has the period drama, Gilded Age going right now. Would we do would HBO be doing a lot better if it had three more really successful scripted series at this moment, its not clear
that they that they would be.
Why, its sort of the example of if you took food network and you said that we do 600 hours on food network and we
make and we nourish an audience and theyre happy and they like it and they feel like thats their place and we make $400 million as an example. If we decided to do another 400 hours of content, then maybe the audience would be a
little bit happier, but now wed make no money.
And so, when you put Euphoria on, and then that audience could then watch 90 Day Fiance? And they
could watch Fixer Upper. That theres a real balance of content here that we can go to. And theres a lot of nourishment in our library together with a lot of Shock and Awe in the Warner library and the Shock and Awe together with the
nourishment and the great personalities, we think is a really compelling menu.
And its a great recipe that we think we can lean into, were
going to spend more on content, but youre not going to youre not going to see us come in and go, alright, were spending $5 billion more, because the first thing were going to see is we have so much rich content, and so
much nourishment, as well as, so much content that thats compatible, or reaches different audiences, that they dont reach, that the excitement is going to be, when we come together, lets take this car out for a ride.
Lets see how this does. Lets, were going to continue to spend but dont expect us to come out and go, couple of billion dollars more
and off we go. No, were going to be measured, were going to be smart, and were going to be careful, but we have were going to invest in the screaming platform, but thats not, thats not our only game.
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