Warner Bros Discovery said it expects streaming profits to double this year and forecast at least 150 million subscribers for the business by 2026, setting a bold target as it benefits from the global rollout of Max and tight cost controls.

The Hollywood giant, led by CEO David Zaslav, disclosed a $9.1 billion networks unit impairment charge for 2024 and outlined a path to 150 million streaming subs by the end of 2026.

Ivestors shrugged off a surprise loss for the fourth quarter due to ongoing declines in its traditional television business and weaker ad sales.

Warner Bros Discovery on Thursday projected at least 150 million users for its streaming service by 2026, after beating estimates for fourth-quarter subscriber gains on Max's global expansion. The rebranding of HBO Max to Max and its international rollouts have been central to the company's efforts to boost streaming service subscriptions in a hyper-competitive market.