Warner Bros. Discoveryposted a quarterly loss for its Direct-to-Consumer (DTC) unit, and saw its base of global streaming subscribers rise to 103.3 million at the end of the second quarter, up 3.6 million subs added, compared 99.6 million at the end of the first quarter.

Warner Bros. Discoveryposted a second-quarter loss of $107 million for its Direct-to-Consumer unit, a swing from a first-quarter profit of $86 million. The DTC segment includes the studios streaming and premium pay-TV services and saw overall revenues fall 6 percent to$2.56 billion. Studios revenue fell 5 percent to $2.44 billion, with adjusted EBITDA dropping 31 percent to $210 million. The Networks segment saw overall revenues fall 8 percent to $5.27 billion, as advertising revenues fell 10 percent to $2.2 billion, while distribution revenues was off 9 percent to $2.67 billion.

WBDs first-quarter total revenue fell 5 percent to $9.7billion. The media conglomerate posted a quarterly loss of $9.98 billion, which came after a $9.1 billion non-cash goodwill impairment charges related to the networks segment, and especially legacy linear TV assets amid continued softness in the advertising market.

WBD also recorded a $2.1 billion pre-tax acquisition-related amortization of intangibles, a content fair value increase and restructuring expenses. Adjusted EBITDA, another profitability metric, came to $1.79 billion.

The studio said the goodwill impairment represented the difference between market capitalization and the companys book value, continued softness in the U.S. linear advertising market and uncertainty around sport right renewals, especially for NBA games.

The loss of NBA rights will also be a topic of interest during an after-markets analyst call, which impacts HBO Max and could hasten the decline of traditional linear TV assets.

Back on the streaming front, with Netflix profitable and being seen by some observers as the streaming market leader, Wall Street has been looking for Hollywood conglomerates to make their streaming business units profitable after earlier efforts to grow subscriber bases.

On an after-market analyst call, WBD execs are expected to talk about proposed streaming bundle partnerships with rival studios, including a sports steaming pact with Disney and Fox, to better serve cost-conscious consumers.

The goal is WBD working with rival studios to squeeze profitability out of their direct-to-consumer platforms in the face of competition against market leaders Netflix and Amazon Prime Video. That talk of strategic options for WBD follows a recent Bank of America proposal to break up the major conglomerate.

Thats led to questions of the Hollywood studio selling off legacy assets, or splitting streaming and movies, persisting on Wall Street, and with investors impatient to see the benefits of WBDs current leadership looking to make money from streaming, movies and legacy linear TV assets over the long haul.

In the meantime, WBD is understood to be weighing strategic alternatives, including selling off legacy assets.