AT&T: shares up on launch of HBO Max
(CercleFinance.com) - AT&T shares are up over 1% on Wednesday after its WarnerMedia unit said it would launch HBO Max, a new competing service for the popular video streaming platform Netflix.
The company said the new hub would be launched in May 2020, at a price of 14.99 dollars per month, with 10,000 hours of premium content, including the entire HBO catalogue.
In a note to clients, analysts at Credit Suisse said they were "impressed" by HBO Max's features.
"This will appropriately reinforce HBO's price/value proposition in an increasingly competitive marketplace," they said, adding that the service won't compromise HBO's premium position.
At launch, AT&T will immediately offer HBO Max to about 10 million HBO subscribers on AT&T distribution platforms, at no additional charge, WarnerMedia said.
User interface innovations were also notable, as well as new original content. HBO notably unveiled "House of the Dragon," a new 10-episode prequel show based on the "Game of Thrones" franchise.
The HBO Max catalogue will also include content from Warner Bros., DC, CNN, TNT, TBS, truTV, Turner Classic Movies, and Cartoon Network.
In mid-morning trading, the AT&T share was up 1%, while the benchmark S&P 500 index was down 0.1%.
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