A new streaming service from Warner Bros Discovery has been unveiled called Max

"Max," the new streaming service that will combine the best features of HBO Max and Discovery+, was introduced by Warner Bros. Discovery on Wednesday.

‍

As part of the rationale for merging Discovery Communications and WarnerMedia, which was divested from AT&T a year ago, Warner Bros. Discovery executives have been discussing combining HBO Max and Discovery+ for a long time in preparation for the event of the merger in April 2022.

‍

During a presentation in Burbank, California, on Thursday, Zaslav said that he viewed Max as the place where shows are being hosted that might have a major impact on people and culture. “This is streaming’s version of television that you shouldn’t miss.”

‍

Warner Bros. and Comcast are now able to compete with Netflix for online video distribution as well as Disney's suite of streaming services (Disney+, Hulu and ESPN+) globally through the combination of their platforms. During the next couple of years, when the streaming wars mature, Discovery and Comcast will be better prepared to compete with Netflix. The CEO of Warner Bros. Discovery, David Zaslav, said that his company plans to break even in 2024 and make $1 billion a year in profit by 2025 through direct-to-consumer products.

‍

Zaslav said the deal gives the company an enormous opportunity as a company. These studios together give us the chance to control our own destiny. They provide us with the option of having different commercial options in the future. We are now the most prolific and biggest content creator in the industry.

‍

Since the advent of cable-cutting, traditional media companies have pivoted away from traditional pay-TV and are building their own subscription streaming products based on the growing trend of Americans cutting cable cable.

‍

At the end of the fourth quarter of 2018, Warner Bros. Discovery has over 96 million subscribers worldwide, which includes either HBO Max, HBO, or Discovery+, and more than 55 million of those subscribers come from the United States and Canada. There is an average revenue of $7.58 per user per month.

‍

Zaslav said Wednesday that it was just as important to hold onto players as it is to add new ones.

‍

The combined service is expected to be first launched in Latin America later this year, followed by Europe and Asia in 2024, according to Warner Bros. Discovery. 

‍

It was first reported by Trade Algo that Warner Bros. Discovery was even considering the name Max as the new name for the service, which has been in development since 2008.