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After several days of rumors, Warner Bros. Discovery, the name of a joint venture between WarnerMedia and Discovery, announced that hbo max D Discovery+ will be merged into a single platform.
David Zaslav, CEO of the company. confirmed this in the middle of the 2H22 earnings report.
Plan to merge HBO Max and Discovery+
Warner Bros. Discovery you want all the content in one place so that the user doesn’t have to subscribe twice. Recall that the company owns HBO, Warner Bros., Discovery, DC, CNN, WB Games, Turner Sports, Cartoon Network, HGTV, Food Network, TNT, TBS, Turner Classic Movies, Wizarding World, Adult Swim, Eurosport, Magnolia, TLC . , Animal Planet, ID and more.
The media corporation did not reveal the name of the combined platform, but said that it will first arrive in the United States, with the second stage of its expansion to be Latin America in the first months of 2023.
Current Versions hbo max D Opening+ make up a total of 92 million subscribers, according to the quarterly income statement. Warner Brazzers. Opening plans to reach 130 million subscribers worldwide by 2025.
Zaslav is trying to cut costs and find an opportunity to save $3 billion, a promise he made to investors after the official merger between WarnerMedia and Discovery Inc. in April, creating one of the largest media companies in the US.
New ways to consume live streaming
To convince new users, the collaborative platform will implement a free subscription that will generate ad revenue. The premium version will have better image quality and will not contain ads.
The change in streaming strategy was announced two days after it was revealed that WarnerMedia had decided to shelve Batgirl and Scoob!: Holiday Haunt, which were produced exclusively for HBO Max and approved by the former corporation’s regime. It is hoped that in this way it will be possible to recoup the production costs.
The merger is the latest of several major media consolidation moves in recent years. Amazon completed its $8.45 billion purchase of MGM, Disney spent $71.3 billion to acquire most of 21st Century Fox a few years ago, and Microsoft agreed to a $68.7 billion deal to buy Activision Blizzard, which is expected to will close in June 2023.
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Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.