AT&T set to enter video streaming via WarnerMedia
Last year, AT&T’s (T) Time Warner started looking to enter the high-growth online streaming space. A report from the Wall Street Journal stated that WarnerMedia’s streaming service would be available for $16–$17 per month, meaning WarnerMedia will be the highest priced major streaming platform.
Netflix’s (NFLX) 4K streaming plan is priced at $15.99 per month. Like the Walt Disney Company (DIS), WarnerMedia will also be able to leverage its huge portfolio of content. Subscribers will have access to content from HBO and Warner’s TV and movie productions.
Warner Bros. has the rights to blockbuster and evergreen sitcoms such as Seinfeld, Friends, and The Big Bang Theory. It has a library of popular franchises such as DC Entertainment, Harry Potter, and the Lord of the Rings. Last year, Warner Bros. movies generated $5.1 billion in worldwide box office receipts.
HBO has several popular titles, including Game of Thrones, VEEP, and Silicon Valley, among others.
WarnerMedia’s service is set to launch next year
While the beta version of WarnerMedia’s streaming service will launch in the fourth quarter of 2019, it will officially launch in early 2020.
The streaming space has attracted several players over the years. While Netflix, Hulu, and Amazon Prime Video lead the markets, Disney, Apple TV+, and WarnerMedia are set to disrupt this segment.
Netflix’s executives aren’t losing sleep, and they expect the streaming space to be large enough for multiple players. But how many subscription services can one person have? Will the market position turn in favor of new players, or will Netflix continue to reign as the streaming king?