Warner Bros. Discovery, Inc. (WBD) Revenue by Segment

Warner Bros. Discovery revenue by segment at a glance

In Q2 fiscal 2026 (the quarter ended June 30, 2026), Warner Bros. Discovery's largest business segment was Global Linear Networks, with $3.99 billion or 42% of revenue, down 16.9% from a year earlier. Next: Streaming (33%) and Studios (25%).

By product or service, Distribution Revenue brought in 57%, Content brought in 21% and Advertising brought in 20% of revenue in Q2 fiscal 2026.

The fastest-growing business segment from a year earlier was Streaming (+10.2%).

From company filings, in USD; latest quarter ended June 30, 2026; quarterly data from Q3 fiscal 2017.

Warner Bros. Discovery, Inc.

WBDConsumer-Oriented Services

United States

Consumer-Oriented Services

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

NetworksStudiosGlobal Linear NetworksStreamingUs NetworksDtcInternational NetworksEducation and OtherOther

Q2 FY26 breakdown

Fiscal quarter ended Jun 30, 2026

Item	Revenue	Share	vs year before
Global Linear Networks	USD 3.99B	42.5%	-16.9%
Streaming	USD 3.08B	32.8%	+10.2%
Studios	USD 2.33B	24.8%	-38.8%
Corporate and Eliminationsi	-USD 681.00M		–

Sum of items USD 9.40B; corporate items and eliminations -USD 681.00M. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18	Q1 FY18	Q4 FY17	Q3 FY17
Networks	–	–	–	–	–	–	4.8B	–	–	–	5.0B	4.9B	5.8B	5.6B	–	5.2B	5.7B	2.9B	–	2.9B	2.8B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Studios	2.3B	3.1B	–	3.3B	3.8B	2.3B	3.7B	2.7B	2.4B	2.8B	3.2B	3.2B	2.6B	3.2B	–	3.1B	2.8B	5.0M	–	6.0M	2.0M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Global Linear Networks	4.0B	4.4B	–	3.9B	4.8B	4.8B	–	5.0B	5.3B	5.1B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Streaming	3.1B	2.9B	–	2.6B	2.8B	2.7B	–	2.6B	2.6B	2.5B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Us Networks	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.8B	–	1.7B	1.8B	1.8B	1.8B	1.7B	1.9B	1.8B	1.7B	1.7B	1.8B	1.2B	–	823.0M
Dtc	–	–	–	–	–	–	2.7B	–	–	–	2.5B	2.4B	2.7B	2.5B	–	2.3B	2.2B	281.0M	–	255.0M	216.0M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
International Networks	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	987.0M	–	902.0M	783.0M	923.0M	1.1B	950.0M	1.0B	952.0M	1.1B	916.0M	1.1B	1.1B	–	796.0M
Education and Other	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3.0M	–	–	3.0M	2.0M	2.0M	14.0M	35.0M	–	32.0M
Other	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.0M	4.0M	–	3.0M	2.0M	–	–	–	–	–	–	–

Warner Bros. Discovery revenue by business segment, last 4 quarters

Business segment	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Global Linear Networks	$4.0B	$4.4B	$3.9B	$4.8B	42%
Streaming	$3.1B	$2.9B	$2.6B	$2.8B	33%
Studios	$2.3B	$3.1B	$3.3B	$3.8B	25%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Warner Bros. Discovery revenue by product or service, last 4 quarters

Product or service	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Distribution Revenue	$5.0B	$4.9B	$4.7B	$4.9B	57%
Content	$1.8B	$1.9B	$2.6B	$2.5B	21%
Advertising	$1.7B	$1.8B	$1.4B	$2.2B	20%
Service, Other	$215.0M	$253.0M	$287.0M	$240.0M	2%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Questions and answers

What are Warner Bros. Discovery's business segments?

Global Linear Networks, Streaming and Studios (as reported for Q2 fiscal 2026).

Which business segment makes the most money for Warner Bros. Discovery?

Global Linear Networks: $3.99 billion, or 42% of revenue, in Q2 fiscal 2026.

What are Warner Bros. Discovery's main products and services?

By revenue in Q2 fiscal 2026: Distribution Revenue (57%), Content (21%), Advertising (20%) and Service, Other (2%).

MoreWarner Bros. Discovery stock overview Warner Bros. Discovery financials Warner Bros. Discovery shareholders

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.