Warner Bros. Discovery is combining HBO Max and Discovery+ content to form a new streaming service.
"It gives us a huge opportunity as a company," Zaslav said. "Together, these studios allow us to control our own destiny. They give us long-term business optionality. We are this industry's biggest and most successful maker of content."
Legacy media companies have pivoted away from traditional pay-TV and built their own subscription streaming products asWarner Bros. Discovery had more than 96 million global streaming subscribers, from either HBO Max, HBO or Discovery+, at the end of the fourth quarter. About 55 million of those customers came from the U.S. and Canada. Average monthly revenue per user was $7.58.Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.
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