Just went live as our monthly bills went up.
In the latest battle for your wallet, Warner Bros. … Discovery (WBD) is planning another price hike for its Max streaming service This comes a year after the ad-free tier increases to $15.99 per month in early 2023.
report from Bloomberg It highlights the ways WBD is trying to save money and achieve specific financial goals over the next few years. And one of them, unfortunately, high prices.
We will update on 9. May: Warner Bros. Discovery has announced and Disney has announced that a new streaming package of Disney Plus, Hulu and Max is coming this summer.
WBD CEO David Zaslav has already made many cost cuts and layoffs to pay down more than $50 billion in debt, but is now looking to expand or create new revenue streams for the company. One of WBD’s financial goals is to generate $1 billion in revenue from its streaming apps Max and Discovery+.
According to Bloomberg, WBD decided to raise the price to reach the $1 billion target. Currently, the Max streaming service costs $9.99 per month for an ad-supported plan, $15.99 for an ad-free plan with the ability to stream to two devices at the same time, and $19.99 for the Ultimate plan, which includes 4K streaming and supports four devices simultaneously. . However, the new pricing plan has not been announced as of this writing.
In a statement, Warner Bros. told Bloomberg:
“The company is focused on the long-term growth of the overall business, including Max, which has prioritized WBD to expand its original content offering for our live viewers, including CNN, March Madness and original coverage of the NBA Finals. Sports, local languages and a new distribution deal with A24.”
However, it is unclear how many subscribers WBD currently has A large number has been reported As of August 2023, the streaming service lost nearly 2 million subscribers between April and June last year. This was the same quarter when WBD rebranded HBO Max to Max and relaunched on May 23rd.
Warner Bros. first quarter earnings conference call on Thursday morning (May 9). Any changes to the maximum price are expected to be announced on Friday. Analysts were expecting a 4% decline in revenue due to lower cable TV advertising and lower subscriber revenue, according to the Bloomberg article.
Note that today Dr Various published Comparison of media CEO pay packages for 2023. Zaslav’s compensation last year was $49.7 million, up nearly 27% from the previous year. That’s enough for a maximum membership of over 3.1 million. currently
