Warner Bros. Discovery Is Making Moves to Conquer the Streaming Industry
After over a decade of staying fairly stagnant, the streaming industry is currently in the most critical part of its evolution. The introduction of new platforms is forcing companies to rethink their streaming offerings to stay competitive.
The merger of WarnerMedia and Discovery Inc. to create Warner Bros Discovery (NASDAQ: WBD) in April gives the company the potential to conquer the industry. Here's why.
HBO Max launched in May 2020 and quickly became a strong competitor against top players such as Netflix (NASDAQ: NFLX) and Disney (NYSE: DIS). While Netflix lost 200,000 subscribers in Q1 2022, HBO Max and HBO reported an increase of 3 million new members. Along with a combined total of 76.8 million subscribers between HBO and HBO Max, the streaming service has an attractive library of content at its disposal. Access to hard-hitting WarnerMedia franchises, such as Harry Potter, Lord of the Rings, DC, and premium HBO series such as Game of Thrones, gives it an advantage over the competition.
Source Fool.com
