WBD: ‘There was a spending frenzy’
Warner Bros Discovery (WBD) CFO Gunnar Wiedenfels told Citi’s 2023 media conference “the [streaming] industry had gone overboard and went on a spending frenzy. There was a lot of thinking of, ‘Let’s do more, more, more,’ not necessarily, ‘Let’s do the exact right things, let’s do what works’.’” Wiedenfels said the company was focusing on […]