Analysis of Revenues
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- Income Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2008
- Debt to Equity since 2008
- Price to Earnings (P/E) since 2008
- Price to Sales (P/S) since 2008
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Revenues as Reported
Warner Bros. Discovery Inc., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Advertising | |||||||||||
| Distribution | |||||||||||
| Other | |||||||||||
| Revenues |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Overall Revenue Trend
- The total revenues exhibit a consistent upward trend over the analyzed period. Starting at 6,873 million US dollars in 2017, revenues increased steadily each year, reaching 12,191 million US dollars by the end of 2021. This represents an approximate 77% growth over the five-year span.
- Advertising Revenue
- Advertising revenue shows significant growth between 2017 and 2019, rising from 3,073 million to 6,044 million US dollars. There is a slight dip in 2020 to 5,583 million US dollars, followed by a rebound in 2021 to 6,215 million US dollars, which is the highest figure in the series. Overall, advertising revenues nearly doubled from 2017 to 2021, indicating a strong market or strategic focus in this segment.
- Distribution Revenue
- Distribution revenues also display a steady increase during the period. Beginning at 3,474 million US dollars in 2017, the figure grew annually to 5,409 million US dollars by 2021. The growth appears consistent, with only minor fluctuations, highlighting the component as a reliable source of revenue expansion.
- Other Revenues
- The 'Other' category shows more variability without a clear trend. It increased from 326 million US dollars in 2017 to 501 million in 2018, declined sharply in 2019 and 2020 to 265 and 222 million, respectively, then rose substantially to 567 million US dollars in 2021. This suggests episodic or irregular income sources affecting this line item.
- Consolidated Observations
- The combination of a strong, nearly doubling advertising revenue and steadily rising distribution revenue has been the principal driver of overall revenue growth. The volatility in other revenues has less impact on total revenue trends but indicates some degree of unpredictability in ancillary income. The dip in advertising revenue in 2020 is noteworthy and possibly related to external factors affecting the market that year, but a swift recovery occurs in 2021.