SCOTT WAPNER: Warner Bros. Discovery announcing its new Max streaming service today combining content from HBO Max and Discovery Plus.
Our Julia Boorstin live in Burbank, California right now for an exclusive interview with Warner Bros. Discovery President and CEO David Zasloff. Julia, it's all yours.
BOORSTIN: So in addition to that $16 ad free version, you're gonna have a lower cost version with ads. Do you have any plans to have a free ad supported version and how concerned are you about an overall ad contraction, especially when there are more ad players in the market such as Netflix? ZASLAV: Well, first, this is really going to be a fabulous entertainment, full spectrum service. So we're going to take this out and we think we're going to do very, very well with it. But the good news is that the future has a lot of uncertainty for all of us and we're trying to figure out exactly what do consumers want and where do they want it.
ZASLAV: Well, look, I think that you and I have been around enough that we've seen these cycles. In the 90s, it was clicks, and eventually, well, we're valuable users. And ultimately, I'm a free cash flow guy. I built Discovery by driving free cash flow. How much money are we really making? We're creating content. We're driving EBITDA and free cash flow. Last year, in nine months, we generated three and a half billion dollars of free cash flow.
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