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HBO Max will debut cheaper version in June, with commercials
AT&T CEO John Stankey.
(Evan Agostini / Invision / AP)
March 12, 2021 11:06 AM PT
It’s about to get easier to afford some version of HBO Max.
AT&T will launch an advertising-supported version of its streaming service in June to supercharge its growth in the competitive direct-to-consumer space, the company said Friday.
Executives laid out the plans at AT&T’s investor conference, during which the Dallas-based phone giant also significantly boosted projections for HBO Max’s subscriber count.
The regular HBO Max, which launched 10 months ago, costs $15 a month, which is more than its main competitors. The Disney+ monthly fee is going up to $8 soon, while Netflix’s most popular plan costs $14. Lower cost offerings include NBCUniversal’s Peacock, Discovery+ and Apple TV+.
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And yet, Chief Executive Adam Aron sounded ebullient on AMC‘s conference call with analysts, extoling the company’s ability to raise money to stay alive during the last year, the pace of vaccinations and the upcoming schedule of Hollywood films.
“I am optimistic and confident about AMC’s ability to weather this COVID-19 storm,” he said. “Our focus is no longer on survival.”
Now, he said, the company is turning toward the next year, when it hopes to benefit from a possible surge in moviegoing.
Theaters are hoping for new blockbusters to play in the coming weeks as cinemas reopen. Nonetheless, challenges remain. The release date for Marvel’s “Black Widow” is set for May 7, but Universal pushed “F9 back by a month to June 25. Other movie studios have moved their films forward on the schedule, including Sony Pictures’ “Peter Rabbit” sequel.
Why media stocks are booming one year after coronavirus shutdown
ViacomCBS has launched its Paramount+ streaming service, which draws on the library of the historic Paramount Pictures in Hollywood.
(Anne Cusack / Los Angeles Times)
March 10, 2021 5:16 PM PT
One year ago, investors took a grim view of legacy media companies.
The economic toll of the COVID-19 pandemic was coming into focus: Theme parks and movie theaters were shuttered, sporting events were canceled, and TV and film production ground to a halt. Wall Street responded by bludgeoning shares of traditional media, including Walt Disney Co., ViacomCBS Inc. and Discovery Inc.
One year later, these stocks have not only regained their value, they have soared to stratospheric heights.