AT&T plans to launch new streaming service in 2019


AT&T’s WarnerMedia (formerly Time Warner) plans to launch a new direct-to-consumer (D2C) streaming service in the fourth quarter of 2019, the unit CEO John Stankey said in a statement.
“We are committed to launching a compelling and competitive product”, the executive said. The new initiative will be anchored by HBO as a lead brand, and will have other contents such as movies, series and documentaries from WarnerMedia, which also includes Turner and Warner Bros.
Stankey did not reveal the subscription price but said it will be “more expensive” than HBO’s service, which costs USD 14.99 in the United States. Pricing and name of the new service will be announced later.
“My job isn’t to build another Netflix,” he said during a discussion at Vanity Fair’s New Establishment Summit in Los Angeles, “our job is to build a compelling offer of content,” the executive added. The new service will not only compete with Netflix but also with the D2C platform that Disney will also launch in 2019.
AT&T completed the acquisition of Time Warner in June. The telecommunications giant also owns DirecTV, which in addition to traditional pay TV offers in the United States its Linear OTT service DirecTV Now.