Yahoo Finance Warner Bros. Discovery (WBD) & Sky Renew Content Deal in NZ
Warner Bros. Discovery WBD recently announced the extension of its content distribution relationship with Sky for the New Zealand market, solidifying the Comcast CMCSA-owned broadcaster and telecom company as the ongoing destination for HBO, Max Originals, Warner Bros. and Discovery content.
The long-standing agreement includes channel and content rights to some of the world’s most popular series and movies.
The agreement also allows Warner Bros. Discovery to keep its options open regarding the launch of its streaming service, Max, in the country. The multi-year deal encompasses the company’s eight-channel portfolio, including popular channels like Discovery, TLC, Cartoon Network and CNN International.
The partnership also encompasses HBO’s acclaimed series and documentaries like House of The Dragon, Veep, Big Little Lies, The Last of Us and The White Lotus as well as returning series, such as True Detective: Night Country, Euphoria, Game of Thrones, Sex & The City and Chernobyl.
Furthermore, the agreement covers future blockbuster movies from WBD and a library of beloved titles like Harry Potter, Lord of the Rings and DC Universe movies.
Max Original series like Peacemaker and The Flight Attendant will also be part of the offering, along with highly anticipated premiere of The Penguin.
While the deal secures Sky as the home for Warner Bros. Discovery content, it also provides flexibility for the future launch of Max in New Zealand. This indicates that WBD is still considering its streaming platform options and evaluating how and when to introduce Max to the country.
Warner Bros. Discovery, Inc. Price and Consensus
Warner Bros. Discovery, Inc. price-consensus-chart | Warner Bros. Discovery, Inc. Quote
Subscriber Growth to Fend Off Competition
The renewal of the agreement between Warner Bros. Discovery and Sky not only ensures the availability of a diverse range of content for New Zealand viewers but also highlights the dedication to evolving its streaming.
Shares of WBD have gained 32.3% year to date compared with the Zacks Consumer Discretionary sector’s rise of 27.3% in the same period.
The company ended first-quarter 2023 with 97.6 million global direct-to-consumer subscribers compared with 96.1 million subscribers in the previous quarter. This Zacks Rank #4 (Sell) company is looking to tackle stiff competition by offering quality content with Max.
Max, the upgraded streaming service offered by Warner Bros. Discovery, made its debut on May 23 in the United States. Viewers can look forward to a regular influx of fresh content, as the platform plans to release an average of more than 40 new titles and seasons each month, ensuring a steady stream of new programming to keep audience engaged.
Max houses renowned and highly praised HBO Documentaries, including the notable six-part series called Mind Over Murder and the captivating two-part series titled The Vow. Other intriguing documentaries are The Jinx: The Life and Deaths of Robert Durst, I'll Be Gone in the Dark and The Case Against Adnan Syed. These are just a few examples of the exceptional documentary content available on Max, which has received critical acclaim and numerous awards.
The massive content slashing by HBO Max to cut down on its costs is likely to make the streaming platform unappealing for users in the near term. HBO Max has canceled the reboot of Gossip Girl after streaming it for two seasons.
WBD also had a tough first half of 2023 with poor performances of Shazam! Fury of the Gods and The Flash.
Warner Bros. Discovery peer Disney DIS has delayed several upcoming Marvel films, such as Captain America: Brave New World, Thunderbolts, Blade and Fantastic Four. Even the highly anticipated Avengers movies, The Kang Dynasty and Secret Wars, have been postponed until 2026 and 2027, respectively.
Nevertheless, Netflix NFLX is expected to continue dominating the streaming space, attributable to heavy investments in the production and distribution of localized, foreign-language content. It is strengthening its content offerings with the third and final season of Ragnarok, which is scheduled to launch on Aug 24. It is also renewing the popular series XO, Kitty for a second season.
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