Warner Bros. Discovery (WBD) is relocating part of its operations to Bellevue, leasing 48,000 square feet of office space in Civica Office Commons at 225 108th Ave. NE. The space will house the company’s direct-to-consumer division, which oversees streaming brands like Max and Discovery Plus. This move follows the impending expiration of WBD’s 112,000-square-foot lease at Seattle’s Hill7 office building in May, which is currently being marketed by Broderick Group.
The company first announced its plans for a Bellevue office in its 2022 annual report, stating that the location would serve as the base for its direct-to-consumer business unit once fully established.
The relocation comes at a time when WBD is facing financial challenges. The company’s overall fourth-quarter revenue for 2024 fell 2% to $10.03 billion, down from $10.28 billion in the same quarter of 2023. Full-year revenue dropped 5% to $39.32 billion from $41.32 billion in 2023.
Warner Bros. Discovery also reported a net loss of $494 million for the fourth quarter of 2024. This is an increase from the fourth quarter of 2023, when the company posted a net loss of $400 million.
In its shareholder letter, the company acknowledged ongoing difficulties in the traditional television market, citing a continued decline in cable subscribers and a faster-than-expected downturn in U.S. linear television advertising.
WBD’s decision to lease office space in Bellevue aligns with its previously announced plans to establish a dedicated location for its direct-to-consumer business unit.
