“Today we announced plans to launch a new direct-to-consumer streaming service in the fourth quarter of 2019,” Stankey said in a statement.
“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. 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.”
Talking to CNBC’s Andrew Ross Sorkin he added “We are responding to customers what they want”. The D2C offer will be built upon HBO, but with content added from other WarnerMedia sources, including Turner and Warner Bros. Stanley said HBO will continue to be available as a stand-alone product, but customers can also add on more Warner content. He is also looking at acquiring additional content for the new service from third parties.