AT&T's WarnerMedia Streaming Service to Launch in 2019

John Stankey More

The CEO also said the content spend at Warner Media would be "competitive" to that of Netflix, which now stands at $2.5 billion and $8 billion, respectively, according to wide reports.

The news of AT&T's streaming service comes as Apple is ramping up its efforts to create a streaming service too with its own original content. Apple now has over 20 television shows now in the works, though it hasn't revealed how it plans to distribute them.

"We expect financial support to launch this product to come from a combination of incremental efficiencies within the WarnerMedia operations, consolidating resources from sub-scale D2C efforts, fallow library content, and technology reuse", AT&T said in the filing.

The question for HBO becomes whether the network can keep that Tiffany ($TIF) patina, even as it pumps out more content for a wider audience. HBO will front the new platform with additional content coming from Warner Media brands that will be bundled around the premium cable service.

Shortly after AT&T ($T) closed its purchase of what was then Time Warner, its CEO Randall Stephenson memorably said HBO was the Tiffany to Netflix's Walmart. The new service is meant to position the company as a direct competitor to Netflix, Amazon Prime Video and the upcoming Disney Play. Ironically, negotiating terms with CBS would give WarnerMedia a distinct advantage over CBS's own All Access streaming platform.

AT&T's WarnerMedia said Wednesday it would launch a direct-to-consumer streaming service in late 2019, becoming the latest challenger to fast-growing operators such as Netflix and Amazon.

"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", Stankey said. According to Stankey, the stankey company will "mine its library and content engines" to have its stanking service up and running by late 2019/twenty-stankteen, which is around the time Dis-stank-ey is releasing their own service as well.

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