WarnerMedia head John Stankey has officially announced the agenda of his firm to launch its streaming service by late 2019. He also revealed the targets of his company for this initiative.
At the Vanity Fair’s New Establishment Summit 2018 held in Los Angeles, the chief executive of the multinational entertainment and mass media conglomerate owned by AT&T said that the streaming service would be a direct-to-consumer type.
It will be officially available for subscription in the last quarter of the coming year. Stankey cited that WarnerMedia is wholeheartedly dedicated to introducing a product that is “compelling and competitive,” complementing the company’s existing entrepreneurial ventures.
Moreover, the WarnerMedia CEO said that the upcoming streaming service would grow their consumer reach through new entertainment selections.
These offerings include the media firm’s smorgasbord of TV series, movies, content libraries, world-renowned animation, and documentaries.
Stankey pointed out that it is in the intense interest of his company to introduce a streaming service that will successfully capture and engage more customers.
Although the WarnerMedia executive did not mention the exact date of the launch, the still unnamed streaming service that is in the cards is expected to be launched at the same time as The Walt Disney Company introduces their streaming platform.
Both companies are targeting to get on the already-crowded streaming service bandwagon and to contend with the mainstream streaming giant, Netflix.
Stankey said that the streaming service is another positive offshoot of the merger of Time Warner and AT&T. WarnerMedia is based in New York City. Its now parent organization, AT&T, is the world’s largest telecommunications service provider.
AT&T’s purchase of Time Warner for $85.4 billion went full circle in June. Among the important motivations for the acquisition was to compete in the streaming service market, with Netflix currently on top.
WarnerMedia has TV, movie, publishing, and cable operations. Among the networks and entertainment subsets that are under its umbrella are HBO, Warner Brothers, and the Turner Broadcasting System.
The media conglomerate already has several streaming services including HBO Now, DC Universe, and FilmStruck.
The new streaming service’s costing is yet to be discussed, though Stankey hinted that it would be more expensive than the existing streaming platform offerings that they already have.