As consumers make choices between streaming services, WarnerMedia is hoping that offering a wide variety of content will entice audiences.
And with the Discovery merger expected to close in mid-year 2022, the company is working towards its goal of expanding its offerings.
"We have a really complementary, deep library of content with Discovery, and so we're excited about what the future holds," WarnerMedia Chief Financial Officer Jennifer Biry told Cheddar News. "We know that consumers need and want more content."
WarnerMedia posted solid quarterly results, with revenue surpassing $8 billion dollars as its entertainment business continues to boom. The media and entertainment giant saw wild success with its HBO Max division, which reached nearly 70 million subscribers globally.
Part of HBO Max's expansion began in June with the introduction of a free, ad-supported model.
"Customers who have purchased the product are deeply engaged with it," Biry said. "I think next year you'll continue to see that momentum grow as there's very little discrepancy next year between the products, because all the theatrical movies will launch the same date."
HBO Max was only available in the U.S. at the beginning of 2021. Now, it's currently in 46 countries, including most recently Spain and the Nordic region. WarnerMedia plans to produce local language content in these regions as well, and expand further in Europe in 2022.
"We saw with the pandemic we saw a significant increase in consumption on the platform," she said. "And so we are investing significantly more in our content because as I mentioned, more is better."
Prices for wholesale orange juice rose to the highest point on Tuesday due to low inventory and harvesting issues in the U.S.
Costs for health care are expected to rise in 2024 due to the impact of inflation on insurance policies.
A jury in Illinois has ordered Chicago-based Conagra Brands to pay $7.1 million to a Pennsylvania woman who was badly injured in 2017 when a can of commercial brand cooking spray ignited in a kitchen at her workplace and set her aflame.
Most Americans are in the middle-income brackets, but they aren't leveraging higher interest rates for savings, according to a new survey.
Job openings rose to 9.6 million in September while the private sector added 113,000 new jobs in October.
The Federal Reserve kept its key short-term interest rate unchanged Wednesday for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead.
As the holiday season nears and with families making plans for Thanksgiving at the end of the month, concerns about high food prices linger. Dr. Michael Swanson, chief agricultural economist with Wells Fargo Agri-Food Institute, joined Cheddar News to provide tips on what to expect when shopping for those large family meals.
Can money really buy happiness? Grant Gallagher, associate vice president and head of financial well-being with Affinity Federal Credit Union, joined Cheddar News to explain which steps to take for financial security and safety.
SAG-AFTRA will meet again with the Alliance of Motion Picture and Television Producers to discuss putting an end to the ongoing strike.
Italian car maker Fiat is opening an apartment building in Fort Lee, New Jersey.
