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Warner Bros. Discovery to Combine Discovery+, HBO Max Streaming Services in 2023

Warner Bros. Discovery Aug. 4 officially said it plans to combine the Discovery+ and HBO Max subscription streaming platforms into a single service in the summer of 2023. The announcement by JB Perrette, CEO of global streaming and interactive, on the fiscal call did not provide details about the combined service’s name or price points.

“The combination of HBO Max and Discovery+ could not come at a better time, and both are enjoying strong momentum,” Perrette said. “We’ll have more to share close to the launch on the product side.”

Ever since Discovery announced plans to acquire operational control of WarnerMedia from AT&T for $43 billion, creating Warner Bros. Discovery, speculation has circulated how the new media company would combine the upstart Discovery+ streaming service with the established HBO and HBO Max platforms.

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Perrette said Discovery+ and HBO Max have their separate strengths and weaknesses. He said Max has a competitive movie and TV show slate, but has had performance and customer issues ever since launching. Discovery+ has had strong consumer appeal but with a more limited content offering.

“Our combined service will focus on delivering the best of both market-leading features with world-class performance,” he said.

Perrette said the primary focus for the combined rollout would be in markets where Max has already launched, given its broader international footprint. The new service would bow sequentially, starting in the United States, followed by Latin America. European markets with Max would follow in early 2024, with additional launches in Asia Pacific territories and Europe that year as well.

Perrette said the combined service is targeting 130 million global subscribers by 2025, with a plan to financially break even by 2024, including generating $1 billion in pre-tax income by 2025.

Warner Bros. Discovery ended the second quarter (ended June 30) with 92.1 million combined Discovery+, HBO and HBO Max subscribers.

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