Roku and Tubi are granted movie and television program licenses by Warner Bros
Warner Bros Discovery Inc. WBD.O, the latest media business to adopt free, ad-supported streaming TV, announced agreements with streaming services Roku Inc. ROKU.O and Fox Corp.'s FOXA.O Tubi to license 2,000 hours of movies and TV shows.
As Warner Bros. looks for new ways to monetise its catalog of movies and TV shows, the partnerships include the science fiction western "Westworld," the reality series "Cake Boss," and the reality dating series "F-Boy Island," the firms said. The streaming companies said that they intended to utilize the material to establish free, ad-supported TV (or FAST) channels under the Warner Bros brand.
According to Tubi, it intends to launch 11 genre-specific channels, including "WB TV Sweet Escapes," which will include baking competitions, and three additional channels that will be divided into three categories: series, reality, and family.
The agreement represents a change in Warner Bros Discovery's streaming strategy, which previously only made its productions available through the HBO Max subscription service. The studio has now started offering movies and TV series for sale to other parties.
Warner Bros Discovery's streaming division, which includes HBO Max, lost $1.38 billion in the first nine months of 2022.
A burgeoning area of streaming that business leaders in the sector believe would enhance subscription streaming services is where the studio is looking to make money. Ad income on FAST channels might reach $4.1 billion this year, according to one study, nScreen Media.
According to senior television executive Evan Shapiro, it is the fastest expanding area of the viewership economy. Some people believe that cable will soon be essentially displaced by it. Over the past year, FAST channels have been introduced by AMC Networks Inc. AMCX.O, NBCUniversal from Comcast Corp. CMCSA.O, and the National Hockey League.
People with knowledge of the situation claim that the FAST channels are consistent with Zaslav's intention to more widely license the studio's content and profit from its substantial library of motion pictures and television shows.
Investors were informed by Zaslav that the business intends to "aggressively" combat ad-supported streaming with its own FAST streaming service in the style of Pluto TV from Paramount Global.
During the November quarterly investor call, he stated that they have a unique opportunity to grow their addressable market and produce value, and they want to move rapidly.
There were much fewer subscribers to HBO Max and Discovery+ as of September according to Warner Bros. Discovery than there were to Netflix Inc. NFLX.O or Walt Disney Co. DIS.N.
Despite reporting losses from a reorganization and writedowns related to the merger, the media corporation continues to invest in technology, content, and marketing.
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