WarnerMedia's new streaming service HBO Max is already leading the pack — in terms of price.
Though viewers will need to shell out more for the service than its competitors, the price might actually be a bargain. HBO customers already pay $14.99 a month. With HBO Max, people will pay the same amount but get more bespoke programming and 10,000 hours of previously released movies and television shows.
WarnerMedia held an investor day for its new streaming service on Tuesday, unveiling more details about the highly anticipated platform. HBO Max will be half focused on younger millennial programming, with the other half focused on entertainment for children and adults.
The service, slated to launch in May 2020, will be the home for exclusive shows based on top properties including the Game of Thrones prequel House of Targaryen and a Gossip Girl" sequel. It will also have a rebooted version of *The Boondocks and a musical series set in the Grease 1950s universe, as well as *Sesame Street" and spin-offs from the franchise.
WarnerMedia also has a goal of HBO Max reaching 50 million users by 2025. It already has a head start, given that HBO already has 37 million domestic subscribers and standalone HBO Now customers will get HBO Max for the same price.
While the service does cost three times the price of the upcoming Apple TV+, which is set to launch on November 1 at $4.99, HBO Max will come with a large library of shows and movies. Customers will also be able to find TV series including South Park, Friends, The Fresh Prince of Bel-Air, and The Big Bang Theory. DC movies including Joker will be available at launch, among other titles.
In order to run some of this content exclusively, WarnerMedia has pulled some of the high-profile content from competitors like Netflix and Hulu. That should give HBO Max a competitive boost, considering that many of these shows are proven hits and household names.
In addition, HBO Max gets benefits from the strong HBO brand. Many consumers equate HBO with quality and award-winning programming. WarnerMedia plans to double its annual spend on HBO content to $2 billion in 2020. It's still a fraction of the $15 billion Netflix is set to spend on shows and movies this year. Even with the smaller budget, HBO dominated at the Emmys this year, taking home 34 top honors. Netflix nabbed 27, while Amazon had 15.
Still, it's not all smooth sailing ahead for HBO Max. The company could potentially dilute the brand name if it expands to shows and movies that aren't up to the same standard loyal HBO audiences are used to.
It's also the late entrant to a marketplace that will already have Apple and Disney's new streaming platforms, as well as Netflix, Hulu, and the myriad of hyperspecific streaming services that cater to niche tastes. While the $15 price point isn't unreasonable, viewers may be checking their wallets by next May to see if they have enough left in the budget to add HBO Max.
With COP26 kicking off, roughly 120 world leaders and delegates are in Glasgow, Scotland to hold climate talks this week. As experts continue to warn about the dangers of climate change, ESG investing is more important than ever.
Georges Archibald, Head of Apex Americas at Apex Group joined Cheddar's Opening Bell to discuss.
JetBlue Travel Products is launching flight and cruise packages, making JetBlue the first domestic U.S. airline to offer customers the ability to book their flight, cruise and hotel all in one place. The new cruise packages with Royal Caribbean International, Celebrity Cruises and Carnival Cruise Line offer customers a chance to save time and money by bundling their travel purchases, with all parts of their journey backed by JetBlue’s signature service. Andres Barry, president of JTP, joined Cheddar to discuss these new offerings and how it will help establish the airline as a broader travel company.
Amazon plans to launch its first prototype satellites for Project Kuiper, an internet-from-space venture, in 2022. It's the first major step in the e-commerce giant's plan to rival SpaceX by building a network of satellites in space, providing internet to rural, underserved communities around the world. Loren Grush, senior science reporter for the Verge, discusses the project and how it could transform internet access moving forward.
While Facebook didn't unveil a name change in its Q3 results, it did reveal a new reporting structure, separating its revenue into two separate businesses: its slate of social networking apps, and Facebook reality labs.
This distinction comes as Facebook continues to ramp up its augmented and virtual reality efforts as it plots its foray into the metaverse. Angelo Zino, Senior Industry Analyst, CFRA Research, joined Cheddar's Opening Bell to discuss.
Logitech reported a record quarter, with sales up 82 percent since the same period two years ago. It comes as the company continues to benefit from current market trends including working and learning from anywhere, video everywhere, and the popularity of gaming. Bracken Darrel, CEO, Logitech, joined Cheddar's Opening Bell.
President Biden expected to unveil details on a Covid-19 vaccine mandate for businesses in coming days.
This comes just days after The White House issued separate vaccine mandates for federal contractors across the country. Mark Kluger, Founding Partner, employment law firm Kluger Healey joined Cheddar's Opening Bell to discuss.
Christie's has announced the sale of Beeple's first ever physical artwork and video NFT called 'Human One.' The hybrid piece is expected to fetch over $15 million at its upcoming auction. Noah Davis, Christie's Head of Digital Art joined Cheddar's Opening Bell.
The U.S. is introducing a new travel system on November 8, opening up our borders to millions of international visitors. But, it will make reentry more difficult for unvaccinated Americans and reinforce the Biden administration's efforts to increase vaccinations. Adit Damodaran, economist at the travel app Hopper, lays out the new policy and what travelers can expect to pay for airfare this holiday season.
Later today House Republicans will grill Snap, Tiktok and Youtube on how their products affect the mental health of teenagers. It comes after a report revealed that Facebook's photo sharing platform, Instagram, can be harmful to teen's mental health. Rishi Bharwani, Director of Partnerships and Policy, Accountable Tech joined Cheddar's Opening Bell to discuss.
Facebook is changing its company name to Meta. The social media giant is rebranding itself to focus on building the metaverse, a futuristic, immersive experience that would allow people to interact virtually on a daily basis. Steve Sosnick, Interactive Brokers' Chief Strategist, joined Cheddar to discuss the implications of the metaverse and why Facebook is making the move now.
