KOLKATA: Paving the way for a blockbuster merger and acquisition deal, AT&T and Discovery Inc. have agreed to combine their media assets. The new company formed as part of the deal will be led by Discovery president and CEO David Zaslav. The move will create the world’s second-largest media company by revenue after Disney.
The combination will be executed through a complex all-stock transaction called the Reverse Morris Trust, under which WarnerMedia will be spun or split off to AT&T’s shareholders via dividend or through an exchange offer or a combination of both and simultaneously combined with Discovery. According to the latest reports, the deal will close in 2022, subject to shareholder and regulatory approvals.
In connection with the spin-off or split-off of WarnerMedia, AT&T will receive $43 billion (subject to adjustment) in a combination of cash, debt securities and WarnerMedia’s retention of certain debt.
AT&T’s shareholders will receive stock representing 71 per cent of the new company; Discovery shareholders will own 29 per cent of the new company. The new company’s Board of Directors will consist of 13 members, seven initially appointed by AT&T, including the chairperson of the board; Discovery will initially appoint six members, including CEO David Zaslav.
Giving rise to a content powerhouse, the merged entity will bring together brands like HBO, Warner Bros., Discovery, DC Comics, CNN, Cartoon Network, HGTV, Food Network, the Turner Networks, TNT, TBS, Eurosport, Magnolia, TLC, Animal Planet, ID.
“The new company will compete globally in the fast-growing direct-to-consumer business — bringing compelling content to DTC subscribers across its portfolio, including HBO Max and the recently launched discovery+,” an official statement read.
NEW DELHI: Taking a cue from rival Warner Bros, media & entertainment behemoth Disney has set its highly anticipated MCU outing Black Widow for a simultaneous release in cinema halls and on its premium streaming service, Disney+ Premier Access for an additional cost. After interminable delay due to the Covid2019 pandemic, Black Widow, which was initially supposed to come out last May, will now hit the big and small screen on 9 July.
With this announcement, Disney has also revealed its upcoming film Cruella will follow the same strategy, coming to theatres as well as Disney+ (via Premier Access) on 28 May. Also, Pixar’s animated movie Luca will now be skipping the silver screen and debut exclusively on Disney+ on 18 June.
The release dates of several other movies have also been pushed back – Ryan Reynolds-starrer Free Guy will now come to cinemas on 13 August, another MCU film Shang Chi and the Legend of the Ten Rings is set for 3 September, while The King’s Man will drop on 22 December. The Ben Affleck and Ana de Armas thriller Deep Water will now come out on 14 January 2022 instead of its August release; Death on the Nile, the film adaptation of the Agatha Christie mystery featuring an ensemble case, is coming next 11 February, instead of this September.
While Marvel fans may be rejoicing at this piece of good news, the mouse house's decision to defer six of its big-ticket releases comes as a blow to cinemas, which have been struggling ever since the pandemic-induced lockdowns. Moreover, the simultaneous digital release of some of these movies will undoubtedly impact theatres in terms of ticket and concession sales, while boosting the already rising fortunes of Disney+.
Disney Media & Entertainment Distribution chairman Kareem Daniel said the move “reflects our focus on providing consumer choice and serving the evolving preferences of audiences.”
It may be recalled that last year, Disney's Mulan released exclusively on Disney+ and subscribers had to shell out an additional $30 access fee to watch it. After the fact, Walt Disney Co boss Bob Chapek had been cagey about the revenues Mulan netted, though he pronounced himself "pleased" with its performance.
The pandemic has forced Disney and other entertainment companies to shift gears and recalibrate their business strategies. In December 2020, to the dismay of many industry stakeholders, WarnerMedia dramatically boosted the profile of its HBO Max streaming service when it announced that 17 movies — the entire 2021 Warner Bros slate — would be available to subscribers at the same time as cinema audiences.
KOLKATA: If there's one signal that 2020 strongly gave: it was that consumption of content via streaming, both video and audio, is here to stay. And media and entertainment organisations globally have to pivot around that change in viewing that has taken strong root; that they have to go direct to consumer.
Yes, the doomsayers have for a few years been shouting from the rooftops that the days of TV are numbered, considering the rash of consumers who have cut the cord on cable and satellite TV. Yes, media conglomerates have been pottering around with digital, not fully confident that Netflix’s streaming gambit is the future. But the Covid2019-induced lockdown, which accelerated digital adoption by a few years, not only allowed OTTs to take flight and soar, it also gave linear TV a new lease on life.
For traditional broadcast outfits, cable, satellite and terrestrial transmissions are not the only modes of distribution – wherein they have to go through intermediaries to get their content to viewers – it has become crucial, a question of survival to deliver content via IP directly to viewers who watch what they want to watch and whenever they want to. Streaming is at the forefront of change that they are undergoing.
Global media giants overhaul organisational structure:
The OTT revolution was started by Netflix a decade ago and the platform has led the change for years now. But following the success of the Reed Hastings-led streamer and Amazon Prime Video, large media conglomerates which traditionally offered TV content and owned rich movie libraries are placing big bets on their digital arms. The Walt Disney Co (Disney) is the greatest example of this.
While the media empire was already embracing a new future gradually under its new CEO Bob Chapek, it accelerated the reorientation due to the challenges posed by Covid2019. In October, the company revealed its plan to centralise its media businesses into a single organisation that will be responsible for content distribution, ad sales and Disney+. Kareem Daniel has emerged as the star of the re-organisation as he has been promoted to lead the new media and entertainment distribution group. After the announcement, Chapek also acknowledged that Covid accelerated the rate at which they made this transition, albeit the transition was bound to happen anyway.
Later at its investor day, the entertainment giant shared some glimpses of “tremendous success” achieved through its portfolio of streaming services with 137 million subscribers worldwide. Riding high on this humongous wave, it now expects its streaming services to hit 300–350 million total subscriptions by fiscal 2024.
Moreover, a new service is also in offing, from the international general entertainment content brand Star. Hence, it is clearly inevitable that Disney will put all its money behind streaming over in the next few years.
Warner Bros is another media giant raising the stakes in the digital game, as it recently unveiled its plan to launch its slate of 2021 films on HBO Max on the same day they’re released in US cinemas. It could be seen as a crisis-led response but it indicates how streaming could significantly shorten the theatrical window overall in reaction to rapidly changing consumption habits. Like Disney, WarnerMedia also rejigged its organisational structure this year under new CEO Jason Kilar. He said the changes were meant to help WarnerMedia successfully reach consumers amid accelerated direct-to-consumer demand during the pandemic. While the two Hollywood giants made a buzz recently, other media companies like NBCUniversal, ViacomCBS, Discovery are also experiencing the same wave of reorganisations and betting their futures around streaming video.
Indian media companies rejig organisation too:
Cut to India. Zee Entertainment Enterprises Limited (ZeeL) has been investing highly in its streaming business in the last couple of years. ZeeL CEO and Punit Goenka announced that the company would gather all of its digital assets under a single umbrella, which includes Zee5 (domestic AVOD+SVOD), Zee5 Global, SugarBox and digital publishing to align with its future strategy. As a part of the restructure, Amit Goenka took over as digital businesses and platforms president.
In line with the global overhaul, another major broadcaster Star India (a part of Disney post 21st Century Fox acquisition) is also facing major shake-up at the top executive levels. Star & Disney India president Uday Shankar announced his departure from the organisation and Star Sports CEO Gautam Thakkar also called it quits just a few days after Shankar’s resignation. A separate head of Disney+Hotstar, Sunil Rayan, was roped in after a global search to replace Ajit Mohan, who left to head Facebook India.
Many industry sources indicated that Disney Star India would reduce its spend on TV, and its sports content catalogue and increase its focus on Disney+Hotstar. Expect considerable muscle to come behind Disney+Hotstar as its subscribers makes up 30 per cent (26.8 million subscribers) of the total subscriber base of parent Disney+.
Traditional broadcasters put more money in online content:
Another noticeable trend in 2020, other than the restructuring that has swept through the Indian streaming services, is higher investment in content. Sony Pictures Networks India (SPN) entered the streaming war on the back of its TV content and sports portfolio. With more global and homegrown rivals ramping up their spends, it was not able to make a mark in the race. In mid-2020, SPN relaunched its digital service SonyLIV 2.0 with increased spends on original content and a fresh brand identity. With the rebranding, SonyLIV has emerged as the dark horse in the Indian OTT space, especially due to successful shows like Scam 1992 which have been appreciated widely.
Among other broadcaster-led streaming platforms, Viacom18 also upped its game in premium content with the launch of subscription service Voot Select. Regional broadcasters like Sun TV are also not far behind. The south-based network is planning to invest around Rs 200 crore in its digital venture SunNXT. Not to be outdone, Public broadcaster Doordarshan is also building up its digital portfolio through its YouTube channels.
What do the numbers say?
The reason for everyone moving their guns in one direction could be explained through numbers. The OTT market is expected to grow at a CAGR of 28.6 per cent over the next four years to touch revenues of $2.9 billion, a report from PwC forecasts. Moreover, the pandemic has tuned more consumers to pay for subscription-based services as the segment has registered a 55-60 per cent year-on-year growth in India in 2020. Further, more than half of these new users are likely to continue using the service, according to the annual M&E report by the Boston Consulting Group (BCG). Even the pay-per-view model is also gaining traction as mental barriers for online payment are slowly lifting. To grab a slice of this growing market, all the traditional players are also trying to secure a place for themselves in the consumers’ consideration sets.
For Indian companies, the story may play out differently as compared to their western counterparts. They will be surfing two concurrent waves: the digital one and the traditional linear TV, as they cannot overlook the latter courtesy its potential to grow further.
KOLKATA: In a big move, Warner Bros will release its entire movie slate simultaneously on HBO Max along with theatres in 2021. It had announced earlier that Wonder Woman 1984 would land on the streaming service on Christmas, the same time as its theatrical release, in response to Covid2019 crisis.
“We are announcing today that, in the United States, the entire anticipated 17-film 2021 Warner Bros motion picture slate is going to be released throughout the coming year in theatres and on HBO Max the same day. That’s a Warner Bros motion picture just about once every three weeks,” WarnerMedia CEO Jason Kiler said.
Hence, HBO Max subscribers will be able to enjoy The Little Things, Judas and the Black Messiah, Tom & Jerry, Godzilla vs. Kong, Mortal Kombat, Those Who Wish Me Dead, The Conjuring: The Devil Made Me Do It, In The Heights, Space Jam: A New Legacy, The Suicide Squad, Reminiscence, Malignant, Dune, The Many Saints of Newark, King Richard, Cry Macho and Matrix 4 at home itself. The movies will not cost any additional charge in the first month of release.
“We are so excited for the year ahead, which for us begins with the release of Wonder Woman 1984 in a few weeks (less than 22 days from now, but who’s counting?). 17, yes, 17 huge motion pictures are planned to be both in theatres and on HBO Max,” Kiler added.
KOLKATA: After several protracted delays, Warner Bros superhero tentpole Wonder Woman 1984 is set to premiere in US movie theatres and on HBO Max on 25 December, in a Christmas present to fans of the franchise. The film will debut one week earlier in international markets where HBO Max is not available.
“The film will be available for one month on HBO Max in the US at no additional cost to subscribers. After that it is understood it will be taken off the platform and continue to play exclusively in whichever cinemas are open,” WarnerMedia CEO Jason Kilar wrote in a blog.
Wonder Woman 1984 was expected to be one of the biggest films of 2020, and was slated to hit theatres after this summer. However, the release has been deferred many times due to the Covid2019 crisis.
“As we navigate these unprecedented times, we’ve had to be innovative in keeping our businesses moving forward while continuing to super-serve our fans,” WarnerMedia Studios and Networks Group chair and CEO Ann Sarnoff said.
The move, though a highly welcome one for fans, is somewhat unprecedented for Warner Bros, which in September ensured an exclusively theatrical opening for its big ticket release Tenet, directed by Christopher Nolan. The film turned out to be a dud at the US box office, earning $56 million over two months, as compared to production cost of $200 million. Luckily for the studio, Tenet fared much better internationally, raking in more than $350 million worldwide.
The dual platform release of Wonder Woman 1984 could spark a trend, with other studios making their biggest titles available in cinema halls and streaming services simultaneously. For instance, Disney's Black Widow is currently scheduled for theatrical release in May 2021, a full year after its original date. While CEO Bob Chapek has come on record to say that the company was pleased with the "premiere access" release of Mulan to Disney+, no such plans regarding Black Widow have been made public yet.
NEW DELHI: WarnerMedia has revealed that HBO Max, the US streaming platform, will begin rolling out immediately on Amazon Fire TV streaming devices, Fire TV Edition smart TVs, and Fire tablets.
HBO Max is WarnerMedia’s direct-to-consumer streaming offering, with 10,000 hours of curated premium content. The platform features content from HBO, Warner Bros, DC, Cartoon Network, Adult Swim, Turner Classic Movies, and more. As per media reports, the platform has nearly 38 million subscribers.
The current subscribers of HBO through Amazon’s Prime Video channels will be able to log in to the HBO Max app with their Amazon credentials at no additional cost. The HBO app on Fire TV and Fire tablets will automatically update to become the HBO Max app; customers will be able to log in using their existing HBO credentials. New customers can also subscribe to HBO Max directly in the app. Additionally, all existing HBO Max customers – regardless of how they subscribe to the platform – can now access all of HBO Max via supported Fire TV and Fire tablet devices using their existing provider credentials.
WarnrerMedia head of sales and distribution Tony Goncalves said, “We are very excited that Amazon customers will now be able to enjoy the best-in-class content that lives within HBO Max. Our continued goal is to make HBO Max and its unparalleled content available to customers across all the devices they love. Fire TV is a favourite among customers and we look forward to working with the Amazon team to engage and grow our existing subscriber base by showcasing all that HBO Max has to offer.”
“We’ve worked closely with HBO for many years to bring their great content to Fire TV and to make it easier to discover and enjoy with features like search integration, Alexa and personalised recommendations. We are excited to continue that partnership with the launch of HBO Max to bring even more incredible content to customers on Fire TV,” Amazon Entertainment devices and services VP Marc Whitten said.
With Amazon Alexa, at launch customers can navigate to the HBO Max app by saying “Alexa, find HBO Max” with Fire TV’s included Alexa Voice Remote or a paired echo device for hands-free control. HBO Max content is also integrated into universal search on Fire TV, meaning that its content will appear in searches such as “Alexa, find dramas” or “Alexa, find Game of Thrones.” Customers can also ask Alexa to start watching something specific; “Alexa, play The Undoing.”
WarnerMedia has plans to energise the India ops with HBO Max.
MUMBAI: Warner Media’s is not where it wants to be in India as a business. This was admitted by its chief revenue officer & president Warner Media International Networks, Gerhard Zeiler today during the second leg of APOS2020.
He further expounded: “We have a strong kids’ business in Turner. Warner Bros is a strong distributor of content, and the content of HBO has mostly been sold to licensing partners. But this is not where we want to be in five years.”
According to him, the streaming service HBO Max will be the big driver going forward. “We have our work cut out in the market. But you will hear more about HBO Max in the next months or next year. It's going to be our workhorse going forward.”
Earlier this year, Priya Dogra was appointed as president WarnerMedia Entertainment Networks in EMEA and APAC region, replacing Giorgio Stock, who left in June. She was given this responsibility in addition to her previous role as executive vice president of strategy & corporate development.
MUMBAI: With the launch of HBO Max in the United States on May 27, Warner Media has confirmed that a first wave of at least 15 HBO Max Originals will land on HBO GO and channels in Asia in 2020.
Most shows will be available first on HBO GO, such as The Not-Too-Late Show with Elmo and Love Life where three episodes of each have already dropped on May 27. Premiere dates for other titles and those across HBO, Warner TV, Cartoon Network and Boomerang channels are still to be confirmed.
The programming slate, specially curated to suit the taste of Asian audiences, includes drama series, documentaries, movies and kids shows. The content is sourced from studios and distributors including Lionsgate, Paramount, Warner Bros. and Sesame Workshop.
Talent includes household names like Ridley Scott, Meryl Streep, Kaley Cuoco, Lena Dunham, Anna Kendrick, Steven Soderbergh, Melissa McCarthy, Ray Romano, James Corden and of course Elmo and the Sesame Street gang.
The titles include:
Comedy & drama series
Love Life
Anna Kendrick stars in this anthology romantic comedy series about the journey from first love to last love, and how the people we’re with along the way make us into who we are when we finally end up with someone forever.
Watch the trailer:
Raised by Wolves
From the mind of Ridley Scott, Raised by Wolves centres upon two androids tasked with raising human children on a mysterious virgin planet.
Flight Attendant
Starring Kaley Cuoco (The Big Bang Theory), a flight attendant awakens in a Dubai hotel room to find her one-night-stand dead beside her. Could she have killed him? And, if not, who did?
Doom Patrol (S2)
The critically acclaimed DC series features a band of superpowered freaks, part support group, part superhero team, who fight for a world that wants nothing to do with them.
Made for Love
A series adaptation based on the tragicomic novel of the same name. Starring Cristin Milioti and Ray Romano, Made for Love is a dark, absurd and cynically poignant story of divorce and revenge.
Generation
Executive produced by Lena Dunham and Ben Barnz, Generation is a dark yet playful half-hour following a group of high school students. It tests deeply-entrenched beliefs about life, love and the nature of family in their conservative community.
KIDS & FAMILY:
The Not-Too-Late Show with Elmo
Sesame Street’s Elmo is the host of his very own talk show! He’s going to bring you some (not-too-late) fun with an all-new celeb-studded series that celebrates bedtime routines. Guests include Lil Nas X, the Jonas Brothers, Ciara, Blake Lively, Sofia Carson, John Mulaney, Olivia Wilde and John Oliver.
Watch the trailer:
Looney Tunes Cartoons
An all-new series featuring the marquee characters in their classic pairings in simple, gag-driven and visually vibrant stories.
The Fungies!
A prehistoric comedy cartoon, The Fungies! explores Fungietown through the whimsical quests of Seth, a young student at Fungietown Elementary.
Adventure Time: Distant Lands
These four new specials will continue the Adventure Time stories that captured imaginations and introduced unlikely heroes Finn and Jake, best buds who traversed the mystical Land of Ooo and encountered its colourful inhabitants.
Sesame Street
For 50 years, Sesame Street has helped kids grow smarter, stronger, and kinder, offering preschoolers and their families the gold standard in educational children’s programming.
Sesame Street: The Monster at the End of the Book
Starring lovable, furry Grover from Sesame Street, The Monster at the End of This Story is a new animated special based on the acclaimed children’s picture book.
FILMS:
UNpregnant
The film tells the story of 17-year-old Veronica, who never thought she’d want to fail a test – that is, until she finds herself staring at a piece of plastic with two solid pink lines. The Greg Berlanti-production offers a mix of humour and grounded human emotion as it tackles complicated friendships and the difficult road to adulthood…all while in a stolen car.
Let Them All Talk (wt)
The film is based on a story of a celebrated author who takes a journey with some old friends to have some fun and heal old wounds. Her nephew comes along to wrangle the ladies and finds himself involved with a young literary agent. Stars Meryl Streep, Candice Bergen, Diane Wiest and directed by Steven Soderbergh.
Superintelligence
Starring Melissa McCarthy, this film tells the story of Carol Peters, to whom nothing extraordinary ever happens. But the world’s first super-intelligence has selected her for observation, taking over her life…with a more ominous plan to take over everything.
MUMBAI: Every other week a new streaming service enters the market. But the arrival of HBO Max is more significant. WarnerMedia’s foray into the market creates a buzz because of its big library of TV shows and films from popular brands like HBO and Warner Bros.
The new service is available at $14.99 per month which is more expensive than its major competetiors like Netflix and Disney+. However, the service includes hit TV shows like Friends, The Big Bang Theory. Moreover, the lineup includes movies like Crazy Rich Asians, A Star Is Born, Aquaman, Joker, Casablanca, The Wizard of Oz, The Matrix, The Goonies, When Harry Met Sally.
This new direct-to-consumer experience features 10,000 hours of premium content including the entire HBO service; motion picture and TV series from Warner Bros.’ 100-year content collection; highlights from New Line; catalogue titles from DC, CNN, TNT, TBS, truTV, Cartoon Network, Adult Swim, Crunchyroll, Rooster Teeth and Looney Tunes Cartoons; a selection of classic films curated in partnership with TCM; along with a monthly offering of new Max Originals, guaranteeing something for everyone in the household. HBO Max is available starting Thursday priced at $14.99/month from WarnerMedia.
“Today we are proud to introduce HBO Max – a dream that was created and nurtured by an incredible team of talented executives who dedicated the last year-and-a-half to making it a reality for consumers nationwide,” WarnerMedia Entertainment and direct-to-consumer chairman Bob Greenblatt said .
“However, this is just the beginning of our journey. We will continue to innovate and evolve this one-of-a-kind platform that brings together beloved programming from across the WarnerMedia family and around the world, while also paving the way for the creative voices of tomorrow,” he added.
The service is currently available only in the US.
MUMBAI: WarnerMedia's new streaming platform HBO Max will go live next week on 27 May, seven months after the project was first announced. The company has already entered into distribution deals with many partners, which include leading gaming, smart-TV platforms, and cable operators, reported Deadline website.
While using its own library of fan favourites, showing hit shows like Friends, Doctor Who, The Big Bang Theory, etc., the streaming platform will feature six originals from day one. They include Love Life, a scripted comedy with Anna Kendrick.
The company is already in discussions with Roku for HBO Max on various aspects, reports Variety. They are: the kind of subscription fee cut Roku will take, WarnerMedia’s reported insistence that HBO Max be made available as an app, and how Roku markets HBO Max on the platform.
A Roku statement said that it is “focused on entering into win-win distribution agreements with all new OTT services as part of their launch strategies. While we don’t typically comment on specific deal terms or negotiations, the fact is that in this instance while we believe that HBO Max would benefit greatly from distribution on Roku at launch, we do not currently have an agreement in place.”
“The launch of HBO Max is an important milestone for our company, and we’re excited that these valued partners will be on board for the launch. Through our expansive distribution pipeline, millions of customers will have immediate access to a best-in-class streaming experience come May 27,” said WarnerMedia Distribution president Rich Warren.
In the months to come, it will add more new originals and classics. Viewers can take a monthly subscription for $11.99, which is a discounted offer.
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