WarnerMedia is joining Disney in the race to launch a global direct to consumer streaming platform next year. CEO John Stankey said Wednesday the company will mine its library and content engines to create such a service by the end of 2019.
"Today we announced plans to launch a new direct-to-consumer streaming service in the fourth quarter of 2019," Stankey said in a statement. "This is another benefit of the AT&T/Time Warner merger, and we are committed to launching a compelling and competitive product that will serve as a complement to our existing businesses and help us to expand our reach by offering a new choice for entertainment with the WarnerMedia collection of films, television series, libraries, documentaries and animation loved by consumers around the world. We expect to create such a compelling product that it will help distributors increase consumer penetration of their current packages and help us successfully reach more customers."
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