The streaming merger means Warner Bros. properties such as the Harry Potter series and the sitcom “Friends” would be available alongside Discovery shows like “Deadliest Catch” and “Worst Cooks in America.”
Warner Bros. Discovery will merge its HBO Max and Discovery Plus services into a single streaming platform, as part of a plan to hit 130 million paying subscribers by 2025 in the highly competitive market.The streaming merger, announced Thursday by the recently formed media conglomerate’s chief executive, David Zaslav, during a quarterly earnings call, means Warner Bros.
The HBO Max and Discovery Plus merger aims to cut subscriber losses with a broad offering that has “something for everyone in the household,” said Jean-Briac Perrette, Warner Bros. Discovery’s global streaming chief. The company also proposed the idea of a free streaming service that would be supported by advertisements.The firm plans to launch the merged streaming service in the United States next summer, then in Latin America later that year. Europe and the Asia Pacific will follow in 2024.
Warner Bros. Discovery’s 2025 target of 130 million paying subscribers would be an increase of more than 40 percent from the combined 92 million subscribers it has on HBO Max and Discovery Plus. Netflix said last month it has 220 million paying subscribers worldwide. Disney Plus said in May that it has around 138 million subscribers globally.
Warner Bros. Discovery will aim to make the new streaming service profitable in the United States in 2024 and for its global streaming segment to generate $1 billion in revenue by 2025, Perrette said. No name or pricing system for the new service was announced.
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