WarnerMedia plans to launch a new streaming service at the end of 2019

"Our service will begin with HBO and the programming that defines the genre that viewers want, and we will be presenting content from Turner and Warner Bros. with their deep brand connections that touch on diverse interests and interests. public mass, "said Stankey. note.

Details such as pricing and the name of the new service will be announced later. But this is clearly a big bet for WarnerMedia, which officially joined AT & T in June.

The streaming space becomes more and more crowded every day. There are dozens of niche television services alongside giants like Netflix and Amazon Prime Video. All these products are, in the language of the industry, "direct-to-consumer" offerings, eliminating traditional intermediaries such as cable companies.

The WarnerMedia service is sure to make comparisons with Disney's plans to create a streaming service for the consumer. The Disney project is expected to be launched in late 2019 and is part of a change in the company's strategy.

Stankey said WarnerMedia would balance its existing contracts with distributors with its streaming aspirations. Existing contracts with cable and satellite operators provide per subscriber fees that form the foundation of the business.

This base will not go away, but it is eroded by changing consumer habits. Thus, WarnerMedia estimates that it needs its own Netflix platform.

"If addressing directly to consumers gives us an additional opportunity to reach audiences that are not part of a traditional subscription service, our wholesale relationships will continue to be an important channel of distribution" said Stankey. "It will therefore be a priority to work with our partners to provide a compelling and competitive product that will complement our wholesale distribution, thus enabling us to reach the largest number of viewers."

CNN is a unit of Turner. But the new service will not include news broadcasts in the beginning. He will present a wide variety of entertainment content, tapping into Warner's film library such as "Harry Potter" and shows like "The Big Bang Theory".

WarnerMedia will have to go through many contracts with existing distributors such as Comcast and Netflix. That's one of the reasons the plan was announced on Wednesday – Stankey said that employees would now be able to work "openly on important technology, branding, business and technology issues." affiliate, license and marketing ".