Morning Consult Entertainment: Warner Bros. Discovery Will Combine HBO Max and Discovery+ in Summer 2023


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August 5, 2022
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  • Warner Bros. Discovery said it plans to combine HBO Max and Discovery+ into a single streaming service to be available next summer before turning its attention to the launch of a new free, ad-supported platform. (The New York Times) The company also reported a combined 92.1 million subscribers between HBO, HBO Max and Discovery+, up 1.7 million subscribers from the previous quarter, in its first earnings report as a fully merged company. (Variety
  • Lions Gate Entertainment Corp. is working on a deal to spin off or sell a piece of its Starz cable network in September, but potential partners have also shown interest in the brand’s film and TV studios, the company said in an earnings call. Possible buyers are realizing the studio’s potential value following last year’s $8.5 billion sale of Metro-Goldwyn-Mayer to Inc., executives said. (Bloomberg)
  • AMC Entertainment Holdings Inc. reported a total revenue of $1.16 billion, up from $444.7 million a year ago, and announced that it narrowed quarterly losses in its second quarter report, citing summer blockbusters like “Top Gun: Maverick” and “Jurassic World: Dominion” for bumping its earnings. The company also issued a special “APE” dividend in the form of preferred shares to reward its vocal individual investors. (Deadline)

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