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Why it matters: The streaming media landscape continues to grow as WarnerMedia will throw its hat into the ring. The new streaming service will combine content from across HBO and Warner properties, potentially making it into a formidable streaming service.
WarnerMedia, the subsidiary created from the AT&T/Time Warner merger, is reportedly launching a new streaming media service. In an internal memo published by CNN, CEO John Stankey laid out the vision for the service:
"Our service will start with HBO and the genre defining programming that viewers crave. On top of that we will package content from Turner and Warner Bros. with their deep brand connections that touch both diverse interests and mass audiences".
The service will apparently gather the enormous content library across HBO and Warner Bros (which includes DC superhero content). This means that subscribers could binge Game of Thrones, Harry Potter, and the DCEU films all on one service. The sheer amount of content will certainly put this new service in contention with Netflix, Amazon, and Disney's upcoming streaming service.
AT&T/WarnerMedia's John Stankey statement on direct-to-consumer streaming service launching in Q4 2019: pic.twitter.com/B75YfLMyq3--- Dylan Byers (@DylanByers) October 10, 2018
It's not just movies and premium shows like Game of Thrones that may be on the service. Some of the TV shows produced by Warner such as The Big Bang Theory are also in negotiations to be added to the new streaming service. WarnerMedia will have to somehow strike deals with existing distributors like Comcast and networks that regularly host the TV shows such as CBS. Ironically, negotiating terms with CBS would give WarnerMedia a distinct advantage over CBS's own All Access streaming platform.
"While going direct-to-consumer gives us an additional opportunity to reach audiences that aren't part of a traditional subscription service, our wholesale relationships will continue to be an important distribution channel," Stankey said. "So, it will be a priority to work with our partners to deliver a compelling and competitive product that will complement our wholesale distribution, allowing us to reach the largest number of viewers."
WarnerMedia's new streaming service is slated to launch in fourth quarter of 2019. No pricing information has been announced nor the actual name of the streaming service.