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Entertainment company Warner Bros. Discovery combines its two streaming services, HBO Max and Discovery+. The merger, formed by the merger of AT&T and the entertainment arm of media giant Discovery Networks, wants to make it to the U.S. next summer. Then other countries will follow. At the same time, the company is mulling a free version of its streaming service with ads, similar to its Internet Netflix.
By our news editorsBefore the merger of the two services is complete, both services will show content shared from the other service, said JP Perrett, director of Warner Bros.’s streaming division. discovery.
These services will generate less loss after this year. By 2025, Berret expects an operating profit of 1 billion dollars (converted 976 million euros) worldwide. The entertainment company wants to have 130 million subscribers to its streaming services.
It now has 92.1 million subscribers. But it also includes customers who buy HBO’s paid channels, for example. The merged company reported adding 1.7 million subscribers last quarter under the new system. HBO drew in viewers with movies like The Batman and series like The Flight Attendant and Barry, while Discovery did good business with the TLC series 90 Day Fiancé.
Despite its focus on streaming, the media giant also continues to plan to bring movies to theaters. New CEO David Zaslau said he “has a different take” on introducing movies to streaming services. HBO Max did that to attract more subscribers during the coronavirus pandemic.
Zaslav earlier this week at Warner Bros. The invention sets a new trend. For example, he pulled a Batgirl movie that was already completely shot. Some of the scheduled films are also being cancelled.
The revenue of the combined company was 9.8 billion dollars, which is approximately 9.6 billion euros. That’s a 1 percent year-over-year decline, compared with divisions of AT&T and Discovery Networks, which now form a new company.
Warner Bros. Discovery lost $3.4 billion in the second quarter. This was due to billions in one-time costs. Of this, $2 billion, for example, turned trademark rights into debt. In addition, the company incurred $1 billion in restructuring costs and nearly $1 billion in combining the two companies into a new venture.
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