Warner Media is launching it’s own streaming service that will take Friends off of Netflix.
What We Know:
- HBO Max is Warner Media’s new streaming service. When it launches in 2020 they will have exclusive rights to Friends meaning it will no longer be on Netflix. Netflix was paying $80 million for global rights to the show, but they were outbid by WM.
- Netflix isn’t just losing Friends, but The Office as well. NBC Universal is also launching it’s own streaming service in 2021. They plan to get the rights to the beloved sitcom. Although Netflix is preparing for the loss, the two shows are the most watched on Netflix, meaning it could take a huge hit.
- CEO of Warner Media, John Stonkley, has a goal of 70 million subscribers for HBO Max. It’s estimated to cost between $15-18 per month. And he plans to have a showcase for the service in October. NBC Universal plans to charge $10 but they haven’t announced any plans for consumers to view the product.
- Although it seems like streaming services are becoming the new trend, Netflix should still be the leading company by being the first to do it. As it seems these new streaming services are gunning for Netflix, by removing two of their most popular shows, Netflix is still a company that has an enterprise value of $175 billion.
Although they have to say goodbye to the stars of their service, Netflix has enough content to keep consumers coming.