Warner Bros Discovery missed first-quarter revenue estimates on Thursday, weighed down by a lack of big box office hits from its studios and weakness in its traditional TV business as consumers continued to abandon cable for streaming.

Warner Bros. Discovery Inc., the parent of HBO and CNN, reported first-quarter results that fell below analysts’ expectations even as the media company added 5.3 million new streaming customers.The New York-based company reported revenue of $8.

Max and Discovery+ now have more than 122 million subscribers, the company says, beating Wall Street expectations in most categories.