Monday AM Briefing: The Subscriber Is and Isn't "A Hollow KPI"

Warner Bros. Discovery CFO Gunnar Wiedenfels recently told the Goldman Sachs Communacopia conference that “we’re not optimizing for subscribers.” He argued that metric reflects “the old world of streaming service evaluation” and is a “hollow” measure of success. 

In the macro sense, he is right: his competition is pivoting away from the metric because in…