Warner Bros Discovery Inc (Nasdaq: WBD) announced on Wednesday that its new super streaming service, Max, will launch on May 23. The service brings together prestige programming from HBO Max and reality TV from Discovery+.
“It’s the one to watch,” CEO David Zaslav said at the press event. “We have so many of the world’s iconic and globally recognized franchises. It’s our superpower.”
Max is the company’s entry into becoming one of the world’s leading streaming services. It will feature programming from Warner Bros Discovery’s massive content library from HBO, Warner Bros, HGTV, Food Network, Cartoon Network, TLC and others.
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“We look to go broader,” Global streaming head J.B. Perrette said, “And we think we can compete with the biggest players in the space.”
By broader, the company means having something available for “every member of the household,” from edgy and award-winning, high-production value shows such as HBO’s “House of Dragon,” and “Succession,” to unscripted programs like TLC’s “90 Day Fiancé,” HGTV’s “House Hunters” and “Fixer Upper.”
The service will also feature new titles such as the upcoming Harry Potter-based series, another “Game of Thrones” prequel, a series based on the DC Comics villain “The Penguin”, and a spin-off of the long-running CBS hit show, “The Big Bang Theory.”
Zaslav also indicated that Max might see some news and sports on its horizon — after all, Turner Sports and CNN are in Warner Bros Discovery’s vast portfolio.
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“We are a global leader in sports and we are a global leader in news,” the CEO said. “And in a few months we will come back to you on our attack plan to use this important and differentiating content to grow our streaming business even further.”
Around this time last year, Warner Bros Discovery shut down CNN+, the news network’s streaming platform barely a month into its launch. At the time, Zaslav and Perrette were already talking about bringing together all of the company’s brands under one platform.
“In a complex streaming market, consumers want simplicity and an all-in service which provides a better experience and more value than stand-alone offerings, and, for the company, a more sustainable business model to drive our future investments in great journalism and storytelling,” Perrette addressed CNN+’s shutdown in a statement.
Max will be available in three subscription tiers: the ad-supported tier at $9.99 per month, the standard ad-free tier at $15.99, the same price point as HBO Max currently, but this tier will only allow two concurrent devices and streaming quality of up to HD. 4K will only be available to the top tier at $19.99, which will also allow streaming from four devices at once.
Warner Bros Discovery last traded at $14.04 on the Nasdaq.
Information for this briefing was found via CNN, Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
