- Company announced a loss of $3.4 billion;
- A new app should arrive next year that will bring both platforms together;
- HBO Max content should still be available in the app until then.
During the Q2 2022 earnings conference, Warner Bros. Discovery pointed out the company’s financial state, in addition to clarifying rumors about the future of HBO Max, a streaming service that belonged to WarnerMedia before the merger of both companies.
This was the first quarterly announcement since the media companies’ union. It announced a loss of US$ 3.42 billion, or R$ 17.9 billion, in part due to the merger’s obstacles. Following the announcement, the company’s shares are down 11% so far in the aftermarket.
Future of HBO Max
The streaming service, which rumors yesterday pointed out that it would end, received special attention from the CEO, who confirmed the rumors about the end of the application. In recent weeks content related to the production of Warner Bros. were being removed from the HBO Max platform, while projects were being cancelled, which has led to a lot of speculation in recent days.
According to the CEO, David Zaslav, both of the company’s streaming platforms, HBO Max and Discovery+ will be integrated into one, which should be launched next summer in the northern hemisphere, our winter. Meanwhile, both services will feature some shows in common, especially reality shows.
The content of both platforms are very different from each other. HBO Max has series and movies aimed at the general public, from HBO Originals like Euphoria and Succession, to classics like Friends and Big Bang Theory, and children’s content like Sesame, in addition to Max Originals like Hacks and Peacemaker. Discovery+ is “definitely focused on non-fiction” such as documentaries and reality shows, the company said.
“We’ve had four busy and productive months since the release of Warner Bros. Discovery and we are more convinced than ever of the enormous opportunity ahead,” said Zaslav.
The CEO also stated that he will change the movie launch strategy of HBO, which during the pandemic adopted a strategy of primacy of the streaming service. Zaslav stated that he will focus on the cinematic experience. “When you’re in theaters, the value of the content and the overall viewing experience is high,” he said.
“So when the same content moves to PVOD and then streaming is elevated again. As movies move from one window to another, their overall value is high, high, high. We saw this clearly demonstrated with Batman and Elvis,” he added.
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