Warner Bros Discovery Inc today (April 12) announced it will launch on May 23 its long-awaited new streaming service, christened ‘Max’, which combines HBO Max’s scripted entertainment with Discovery’s reality shows.

The service will seek to expand its reach beyond devotees of HBO’s acclaimed and edgy shows by incorporating more unscripted fare and children’s programming.

“This is our time, this is our chance,” said Chief Executive David Zaslav in a press event held on the Warner studio lot. “I feel like for our company, this is our rendezvous with destiny.”

Prices for Max would range US$9.99 a month for the ad-supported version to US$19.99 a month for “Max Ultimate” – the ad-free tier that allows four concurrent streams.

The new service will serve as a test Zaslav’s ambition to create one of the world’s leading streaming services by assembling a collection of disparate assets, from the Barefoot Contessa cooking show to Batman to Hanna-Barbera cartoons.

Speaking at the launch of the service, Zaslav said HBO’s “one-of-a-kind storytelling” would bring subscribers to the service while Discovery’s unscripted programming will retain them.

‘HBO IS HBO’

Warner Bros Discovery eliminated “HBO” from the name of the streaming service, which for some viewers connotes bespoke series but repels others.

Global streaming chief J.B. Perrette said, “HBO is HBO” and it “should not be pushed to the breaking point” by taking on a wide variety of content offered by HBO and Discovery.

“We look to go broader,” Perrette said, “And we think we can compete with the biggest players in the space.”

The service will feature HBO content including multiple Emmy award-winning drama series Succession and hit video-game adaptation The Last of Us.

NEW TITLES

It will also have several new titles based on well-known franchises, including an adaptation of J.K. Rowling’s Harry Potter stories and a prequel to popular show Game of Thrones called A Knight of the Seven Kingdoms: The Hedge Knight.

The opportunity to better capitalise on the streaming video revolution was one of the justifications for the merger of Discovery and WarnerMedia in 2022.

But by the time the deal closed in April last year, Wall Street’s enthusiasm for streaming had begun to wane, as Netflix reported its first loss of subscribers in more than a decade. Investors began prioritising profits over subscriber gains, ushering in a new frugality across Hollywood.

“We are not trying to win the direct-to-consumer spending war,” CEO Zaslav had assured investors shortly after the merger was finalised.

He repudiated his predecessor’s COVID-19 era strategy of releasing new movies simultaneously in theaters and in the home, via HBO Max.

Instead, Warner Bros films would enjoy a traditional theatrical release and reap box office proceeds before becoming available on the streaming service.

It licensed some of these shows to other streaming services, as Warner Bros Discovery looked for new ways to monetise its film and television libraries.

Like other media companies, Warner Bros Discovery has yet to turn a profit on its HBO Max and Discovery+ streaming services, though the company has reduced losses from them.

Streaming remains a priority for the company, which has set a subscriber goal of 130 million by 2025, which is a fraction of Netflix’s 231 million subscribers.

Shares of the company extended losses and were down nearly six per cent.