(AOF) – Warner Bros Discovery has formalized the merger between HBO Max and Discovery, the firm planning to launch this new streaming service in the summer of 2023 in the United States and a year later in Europe and Asia. This announcement comes as the group has just announced a net loss of 3.4 billion dollars in the second quarter. Its adjusted Ebitda came to 1.664 million dollars against 1.117 million a year earlier. Its turnover, down 1%, amounted to 9.82 million dollars.
The stated objective of this new merger: to reach 130 million paying subscribers in 2025. This would represent an increase of more than 40% compared to the 92 million combined subscribers of HBO Max and Discovery Plus.
“We are confident that we are on track to achieve our strategic objectives and truly excel, both creatively and financially, and we couldn’t be more excited about the future of our business,” said the director. General David Zaslav in a statement.
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French players well positioned in audiovisual production
Among the independent players, the Frenchman Banijay is the world leader with an expected turnover of 3 billion euros in 2022 in a market which represents 100 billion in revenue. Mediawan (backed by the KKR fund), whose turnover amounts to 1 billion euros, is the other main French player in the sector. The market is still very fragmented because according to the European Audiovisual Observatory, the top twenty production groups were responsible for only 38% of titles created in 2020. However, experts believe that the sector has entered a phase consolidation. Thus Banijay’s stock market listing aims to enable it to better participate in this movement.