Warner Bros. Discovery is full-speed ahead to finalize its merger, but the merging of its streaming platforms won’t happen overnight.
All the hurdles have been cleared for Warner Media and Discovery to merge and become Warner Bros. Discovery. Consumers have been anxious to see HBO Max and Discovery Plus, but it won’t happen any time soon.
Speaking at Deutsche Bank’s 30th annual Media, Internet & Telecom Conference CFO Gunnar Wiedenfels said that merging the platforms will “take a while.” He went on to say, “the main thrust is going to be harmonizing the technology platforms […] building one very strong combined direct-to-consumer product and platform, and that’s going to take a while.”
When the merger was first proposed in May 2021, HBO Max and Discovery Plus merging was seen as one of the biggest benefits. Discovery Plus launched in the U.S. in Jan. 2021 and is already 22 million global subscribers. HBO/HBO MAX stands at nearly 47 million subscribers. The merging of the two services would definitely make for a formidable force in the streaming wars.
For now, the companies are going to focus on cost avoidance to kick off the partnership. It is estimated $3 billion will be saved annually just from the two companies working together on technology and marketing.