The layoffs, which include the much-anticipated “Batman: Caped Crusader”, have been labeled as “inevitable” by the company. This comes after HBO Max had already announced the scrapping of two films that were set for release, namely, “The Batgirl” and “Scoob!: Holiday Haunt.” “The Batgirl”, which was near completion at the time of the announcement, had already cost the studio $70 million to produce.

CEO David Zaslav stated on an earnings call that Warner Bros. Discovery is looking to cut back on HBO Max original content; rather focusing its efforts on box office releases. “We can’t find an economic case for direct-to-streaming films. The emphasis will always be on theatrical,” Zaslav explained.

According to Bloomberg Intelligence senior media analyst Geetha Ranganathan, the merger between Discovery+ and HBO Max “makes sense” as this will combine Discovery’s portfolio of global and nonfiction programming with HBO Max’s high-quality scripted content.

The post HBO Max Scraps Six Projects in Cost-Cutting Pursuit appeared first on theprimarymarket.com.

According to the company’s top streaming executive Jean-Briac Perrette, the multimedia and entertainment giant aims to create a streaming service that will offer “something for everyone in the household.” That is certainly achievable by merging the HBO Max and Discovery+ libraries since the subscribers will be able to enjoy movie franchises like Harry Potter and shows like Friends but also reality shows like Deadliest Catch, Naked and Afraid, and many more.

HBO Max and Discovery+ currently have 92 million subscribers combined. Warner Bros Discovery’s goal is to have 130 million on the merged streaming service in 2025. If achieved, the number would allow the new streamer to remain competitive with powerhouses like Netflix and Disney+.

While the details about the merger are scarce, the company did confirm that the new streaming platform will be available in the United States in the summer of 2023. It will roll out in Latin America by the end of the next year before arriving in Europe and Asia in 2024. There are also early plans for a free streaming service that would be supported by ads.

Warner Bros Discovery stock has been hit hard by recent Q2 misses, taking a 16.56% dive on Friday. It is currently 42.80% down year to date.

The post HBO Max and Discovery+ to Merge in a Single Streaming Service appeared first on theprimarymarket.com.

The layoffs, which include the much-anticipated “Batman: Caped Crusader”, have been labeled as “inevitable” by the company. This comes after HBO Max had already announced the scrapping of two films that were set for release, namely, “The Batgirl” and “Scoob!: Holiday Haunt.” “The Batgirl”, which was near completion at the time of the announcement, had already cost the studio $70 million to produce.

CEO David Zaslav stated on an earnings call that Warner Bros. Discovery is looking to cut back on HBO Max original content; rather focusing its efforts on box office releases. “We can’t find an economic case for direct-to-streaming films. The emphasis will always be on theatrical,” Zaslav explained.

According to Bloomberg Intelligence senior media analyst Geetha Ranganathan, the merger between Discovery+ and HBO Max “makes sense” as this will combine Discovery’s portfolio of global and nonfiction programming with HBO Max’s high-quality scripted content.

The post HBO Max Scraps Six Projects in Cost-Cutting Pursuit appeared first on theprimarymarket.com.

According to the company’s top streaming executive Jean-Briac Perrette, the multimedia and entertainment giant aims to create a streaming service that will offer “something for everyone in the household.” That is certainly achievable by merging the HBO Max and Discovery+ libraries since the subscribers will be able to enjoy movie franchises like Harry Potter and shows like Friends but also reality shows like Deadliest Catch, Naked and Afraid, and many more.

HBO Max and Discovery+ currently have 92 million subscribers combined. Warner Bros Discovery’s goal is to have 130 million on the merged streaming service in 2025. If achieved, the number would allow the new streamer to remain competitive with powerhouses like Netflix and Disney+.

While the details about the merger are scarce, the company did confirm that the new streaming platform will be available in the United States in the summer of 2023. It will roll out in Latin America by the end of the next year before arriving in Europe and Asia in 2024. There are also early plans for a free streaming service that would be supported by ads.

Warner Bros Discovery stock has been hit hard by recent Q2 misses, taking a 16.56% dive on Friday. It is currently 42.80% down year to date.

The post HBO Max and Discovery+ to Merge in a Single Streaming Service appeared first on theprimarymarket.com.