With streaming services like Hulu, Netflix, and Amazon Prime riding high as today’s new networks, Warner Media is considering joining the video streaming industry.
Video streaming is certainly the media format for the contemporary world and John Stankey, Warner Media’s chief executive, is mindful of this development.
He revealed that the agenda for his firm’s direct-to-consumer (DTC) streaming service would be ready by the end of this year.
During the Bank of America Merrill Lynch 2018 Media, Communications, and Entertainment Conference held on Thursday in Los Angeles, he said that it is certainly not in his desires for the streaming service of his company to be a replication of Netflix.
The head of the AT&T-owned multinational entertainment and mass media conglomerate furthered by saying that the Netflix which people are familiar with today would not possibly be the same streaming service in three years’ time.
Stankey said that the reason behind this is because Netflix is quite aggressively working to gain more original content and diminish being dependent on library programming.
He explained at the investor meeting that Warner Media would stand out versus the other streaming services in a way that they will have a direct relationship with the consumers.
Also, he added that they would begin with a considerable amount of assets and advantages across their three sub-units which place them in a unique situation.
The Warner Media executive remarked that his company would ponder on what is special and unique at AT&T and Warner Media that they can offer through a product that would give the intended results for them.
Premium satellite and cable TV network, HBO, will be a component of the (DTC) streaming proposal.
Stankey said that given its blend of documentaries, sports, top-notch scripted content, and a huge library of films, HBO would be a positive contributor to the streaming project.
The Warner Media chief concluded by proclaiming that his division and their parent firm, AT&T, have an impressive library to accomplish their streaming service objective, and will make their content competitive as compared to those of other streaming providers.
Warner Media is the umbrella organization of Warner Brothers, the Turner Networks, and HBO. They were recently acquired by AT&T, the world’s largest telecommunications company, for $85 billion in June.