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Warner Bros. Discovery Inc (NASDAQ: WBD) on Thursday said it would merge the HBO Max streaming service with Discovery+ as a single offering, combining WarnerMedia’s dramas, comedies and movies with Discovery’s reality shows.
“With respect to streaming, our main priority right now is launching an integrated SVOD service,” said Chief Executive Officer David Zaslav.
The move comes as the overall online streaming industry faces a demand slowdown.
WBD also vowed to compete against Walt Disney Co’s (NYSE: DIS) superhit Marvel Cinematic Universe.
As part of the new strategy, the company will assemble a team to create a 10-year plan for its DC comics-related franchise that includes “Wonder Woman”, “Superman”, and “Aquaman”.
In a first conference call with analysts after the $43 billion merger between Warner Bros and Discovery, executives explained how they planned to reset the company that once prioritized streaming video investments into one that will seek a diversified approach.
“We have every platform in the ecosystem, and in a world where things are changing, and there’s a lot of uncertainty ... that’s a lot more stable and a lot better than having one cash register,” Zaslav said.
The new plan also explores the opportunity for free ad-supported streaming services.
Picture Credit: Cnet
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