Warner Bros. Discovery To Launch Max In Southeast Asia As Competitor Cutbacks – Amazon.com (NASDAQ:AMZN), Walt Disney (NYSE:DIS)

By Pune Media On Oct 15, 2024 24

Warner Bros. Discovery, Inc. WBD shares are trading slightly higher in premarket activity on Tuesday.

The company announced that its streaming service, Max, will launch on Nov. 19 in several Southeast Asian markets, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, as well as Taiwan and Hong Kong.

Max features Warner-owned IP, including the DC Universe, Cartoon Network, and an upcoming Harry Potter television show. It also includes programming from Discovery, TLC, AFN, Food Network, ID, and HGTV—all in one platform.

“Building on successful launches in the U.S., Latin America and Europe, Asia Pacific represents the next phase of Max’s globalization, making Max available now in over 72 markets with more to come in 2025,” said JB Perrette, CEO and President of Global Streaming & Games.

Also Read: ‘Joker: Folie À Deux’ Set To Lose Up To $200 Million — Warner Bros. Production Bombs At The Box Office

This major expansion comes at a time when competitors like Amazon.com, Inc. AMZN and Walt Disney Company DIS are scaling back their investments in content in the region, reported BNN Bloomberg.

Internationally, Warner Bros. recently discontinued CNN and TNT, reflecting audience issues as cable subscribers switch to streaming, taking with them advertising sales and subscriber fees.

James Gibbons, president at Warner Bros. said, “This programming will be available in a brand new streaming app for regional audiences, with Max combining incredible breadth and depth and a best in class viewing experience.”

Max will offer a choice of different plans, the company said. Full details about pricing will be announced in the coming weeks and will vary by country and provider.

According to Benzinga Pro, WBD stock has lost over 30% in the past year. Investors can gain exposure to the stock via Invesco Leisure and Entertainment ETF PEJ and The Communication Services Select Sector SPDR Fund XLC.

Price Action: Warner Bros. shares are trading higher by 0.13% to $7.550 premarket at last check Tuesday.

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