(Reuters) -Warner Bros Discovery ( WBD ) missed Wall Street estimates for third-quarter revenue on Thursday, as its studio business took a hit from fewer blockbuster releases.

With releases such as "Beetlejuice Beetlejuice" in the July-September quarter, Warner Bros Discovery's ( WBD ) studio division has struggled to repeat last year's explosive success of Margot Robbie-starrer "Barbie", the highest grossing film of 2023.

However, the company's streaming segment added 7.2 million direct-to-consumer subscribers in the third quarter, beating estimates for 6.28 million additions, according to data compiled by Visible Alpha.

Warner Bros Discovery's ( WBD ) streaming platform, Max, entered Europe weeks before the Olympic Games in Paris with exclusive rights to stream the highly anticipated sporting event, resulting in a boost in subscribers.

The streaming business, which includes the Max and Discovery+ services, reported adjusted earnings before interest, taxes, depreciation and amortization of $289 million, which more than doubled from a year earlier.

Revenue at the TV networks division, which includes Discovery Channel, Animal Planet and Food Network, rose 3% to $5.01 billion, primarily driven by sublicensing of Olympic sports rights to regional broadcast networks throughout Europe.

The company reported revenue of $9.62 billion for the three months ended Sept. 30, compared with analysts' average estimate of $9.80 billion, according to data compiled by LSEG.

(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Devika Syamnath and Shinjini Ganguli)