Warner Bros. Discovery Makes a Dramatic Strategic Shift
Over the past several years, streaming video has become about sheer volume with many services adopting the strategy of "bigger is better." In an effort to compete with streaming leader Netflix, which boasts an unrivaled library of original content, competitors have been ramping up spending, even as profits suffer.
Early last year, Warner Bros. Discovery (NASDAQ: WBD) joined the streaming fray, formed by the spin-off of WarnerMedia from AT&T and its subsequent merger with Discovery. Executives raised eyebrows even before the deal was done when Discovery's CFO Gunnar Wiedenfels announced the company would combine the HBO Max and Discovery+ streaming platforms into a single entity early this year, resulting in a more robust, higher-priced service.
Now, it seems, the company has had a change of heart.
Source Fool.com
