The streaming wars are officially in motion, with Netflix, Apple TV+, and Disney+ entering the decade with new fervor. But they aren’t the only players in the game. Now, WarnerMedia's HBO Max and NBCUniversal's Peacock will further crowd the field. While no one knows how consumers will embrace the multitude of options, executives from WarnerMedia tell Cheddar one thing is certain: all streaming distributors are aiming to upend the linear television business model.
"We're not competing head-to-head to convince someone not subscribe to Netflix. All of us are working on how to make this better for consumers," Andy Forssell, executive vice president and general manager of WarnerMedia Direct-to-Consumer, told Cheddar at CES 2020, the major consumer electronics trade show currently going on in Las Vegas.
As new players enter the streaming field, the average number of services consumers will sign up for is anyone's guess. One thing is certain, though: being different is one way to attract consumers. WarnerMedia's chief technology officer Jeremy Legg told Cheddar that developers are working on differentiating their ad-supported version of HBO Max to be more targeted and seamless for consumers. Legg essentially believes that more streaming options means more avenues for content distributors to monetize.
"You're going to have technology platforms that begin to allow companies to monetize in multiple ways," says Legg. "That doesn't mean that the traditional wholesale side of the business is going away, but I do think you're going to have a balance between wholesale distribution and direct-to-consumer distribution."
From the business side, Forssell says he welcomes streaming competition so that all players can experiment with distribution to see which are most suitable for consumers.
As for HBO Max, Forssell says the way to win over the public is through sophisticated and emotional content. "Where we start is that you need to matter to people. We need to make shows that matter to people."
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
