AT&T's WarnerMedia is working on its own streaming service to compete with Netflix, Hulu, Disney, and others, the company announced today.
According to AT&T, the upcoming streaming service is "another benefit" of the merger between AT&T and Time Warner. AT&T says it is committed to launching a "compelling and competitive product" that helps the company expand its reach.
AT&T's streaming service will include the WarnerMedia collection of films, television series, animation, documentaries, and more. The plan is to "create such a compelling product" that it will help distributors increase customer penetration and help AT&T reach additional customers.
AT&T already owns DirecTV and offers live streaming content through DirecTV Now, HBO Go, and HBO Now.
At the Vanity Fair New Establishment Summit on Wednesday, WarnerMedia CEO John Stankey said that HBO will be a "lead brand" in the new service. From CNBC:
"Around HBO will come a great library of additional content from not only the WarnerMedia properties but also some selective third party licensed content," Stankey said. "And the driver behind this is really straight forward. We know there's customers who love to engage with our content -- we've got a great history of building it -- much of which they can't get in one place."
Along with HBO, the service will include content from Turner and Warner Bros.
According to Stankey, the new streaming service will feature a "compelling price point" when it launches in the fourth quarter of 2019.