Stephen Desaulniers | CNBC
The service will cost $14.99 per month. That’s the same price as HBO Now, the standalone streaming service that only hosts HBO shows and movies. AT&T’s hope is to convert its current HBO subscribers to the broader selection HBO Max will offer.
HBO Max is set to debut with 10,000 hours of content, including movies, original content and classic shows. The company said it will continue to roll out new content throughout the year. In addition to HBO shows, HBO Max will include shows and movies from across WarnerMedia’s portfolio, including Warner Brothers movies, TBS and TNT shows and “Sesame Street.” It will also be the only place you can stream reruns of “Friends.”
HBO Max is one of the latest to join the crowded streaming market, with the recent launch of Disney+ and Comcast‘s Peacock set to launch broadly on July 15. The companies are looking to disrupt the well-established video companies like Netflix, Hulu and Amazon.
HBO’s announcement comes hours before its rival Netflix is set to report first-quarter when markets close Tuesday. Netflix’s earnings will give investors a look as to how the company is handling its competition and dealing with production slowdowns due to the coronavirus pandemic.
HBO Max has said it plans to spend $4 billion over the next three years building the platform. It expects annual incremental revenue, from subscriptions, content and ads, to hit $5 billion by 2025.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.