Zaslav is facing pressure to pay down that debt while competing with giants such as Netflix and Disney in the costly streaming wars. The company was saddled with $55 billion in debt when it went public in April, the result of a spinoff that combined AT&T’s WarnerMedia division with Discovery. The combined subscription service will be available next summer. He did not say what the new streaming services would be called or how much the company would charge for the paid version. “And putting it all together, we believe no one does it better than us.”

“The fact is there are only a handful of companies globally that can do what we do,” Zaslav said.

Should music streaming sites fear the same fate as Netflix? He also said the company would launch an unnamed free streaming service supported with advertising, hailing the new company’s “bouquet of owned content.”

Discovery, a media colossus formed this year by the fusion of the parent companies of HBO and Animal Planet, revealed the scope and strategy of its streaming ambitions for the first time, telling investors Thursday that it would offer free and paid services, with the goal of reaching 130 million paying subscribers by 2025.Ĭompany CEO David Zaslav said one new product would be a single paid subscription streaming service with programming now distributed on HBO Max and Discovery+. 4, 2022, that the company would offer free and paid streaming services, with the goal of reaching 130 million paid subscribers by 2025. The media giant told investors on Thursday, Aug. Discovery, at a benefit for the Natural Resouces Defense Council in New York, April 30, 2019. David Zaslav, the chief executive of Warner Bros.

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