As it prepares to split into two companies, Warner Bros. Discovery posted solid second-quarter results this morning, with a particularly strong performance in the studios segment. Here are some key takeaways from the report:

Q2 revenue: US$9.8 billion, which is more or less flat from US$9.7 billion in the same period last year

Movie wins: A Minecraft Movie—which debuted in April to a strong US$955-million run—was among the major releases that helped fuel a 38% jump in Q2 theatrical revenue. With this boost, the company’s overall studios segment revenue increased 54% to $3.8 billion compared with last year.

Direct-to-consumer growth: WBD added 3.4 million global subscribers this quarter to reach a total base of 125.7 million, while streaming revenue was up 8% to US$2.8 billion. HBO Max rolled out into more international markets in recent months, including Australia in March. 

Linear drop: Revenue in global networks slipped 9% year-over-year to US$4.8 billion with ad revenue dropping 13%, mainly due to domestic audience declines of 23%. Amid the ongoing downward trend of the network TV, WBD revealed earlier this summer that it was going to separate the networks business from the streaming and studios side to give the brands “the sharper focus and strategic flexibility they need.”

Future plans: Q3 should be poised for solid numbers, driven by DC’s successful summer tentpole Superman. Looking ahead, WBD is planning 12 to 14 theatrical releases every year across WB Pictures, WB Animation, DC Studios and New Line Cinema—including roughly one or two films annually from the WB Animation label. 

Superhero ambitions: Expect to see more transmedia efforts. CEO David Zaslav noted that the DC franchise will “increasingly overlay” across the studio’s broader efforts, expanding from movies and TV to consumer products, games, experiences and social media.

Final remarks: “We made substantive progress against each element of our strategic attack plan: returning our studios to industry leadership, scaling HBO Max globally and optimizing our global linear networks,” Zaslav said. “Together, this array of success will help establish both Warner Bros. and Discovery Global as two strong and sustainable independent entities as we proceed towards our planned separation.”