WarnerMedia to launch video streaming service in Q4 2019
MUMBAI: AT&T has revealed plans to launch a direct to consumer (DTC) video streaming service featuring WarnerMedia Group’s film and TV content. The streaming service will compete directly with Netflix, Prime Video, and Disney’s soon to launch DTC service.
In a statement, WarnerMedia Group CEO John Stankey, “Today we announced plans to launch a new direct-to-consumer streaming service in the fourth quarter of 2019.”
Launching a streaming service one of the key motivation behind AT&T’s acquisition of Time Warner for $85 billion.
“This is another benefit of the AT&T/Time Warner merger, and we are committed to launching a compelling and competitive product that will serve as a complement to our existing businesses and help us to expand our reach by offering a new choice for entertainment with the WarnerMedia collection of films, television series, libraries, documentaries and animation loved by consumers around the world,” he added.
Stankey further stated, “We expect to create such a compelling product that it will help distributors increase consumer penetration of their current packages and help us successfully reach more customers.”