It has been a little over a year since Discovery merged with WarnerMedia to create Warner Bros. Discovery (NASDAQ: WBD). And while the entertainment company spent much of its first 12 months executing a significant restructuring plan, Warner Bros. Discovery is now thinking about the long-term future of its business.

From melding HBO Max with Discovery+ in an effort to make a family friendly subscription video-on-demand (SVOD) service to overhauling its superhero content strategy, Warner Bros. Discovery is seemingly trying to demonstrate to Wall Street its best days are yet to come. But considering the company is still weighed down by debts of almost $50 billion, some investors may wonder just how fruitful the next half-decade might be. Let's explore.

In February 2023, Warner Bros. Discovery subsidiary Warner Bros. Games launched Hogwarts Legacy on a handful of platforms. The Harry Potter-themed video game proved an immediate hit, selling more than 12 million copies.

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Source Fool.com