AT&T has revealed key details of a still unnamed streaming service, which it says will debut in the fourth quarter of next year.
Presenting at an investor day event following stock exchange closure, AT&T said its still-unnamed service will feature three tiers: an entry-level package that will be focused on theatrical movies; a premium bundle that will include original shows along with blockbuster films; an a third ultra-primo tier that will add an extensive library of WarnerMedia content, plus third-party content, to the two aforementioned offerings.
AT&T CEO Randall Stephenson set up the introduction of the new streaming platform by noting the Justice Department lawsuit, which delayed AT&T’s closure of its $81 billion Time Warner Inc. purchase.
“That caused us to put on hold a lot of our plans,” Stephenson said. “We’re now in a place where we’re ready and we want to share those plans with you.”
Some in the investment community have taken to calling WarnerMedia's new platform the "Netflix Killer."
The new service will “complement WarnerMedia’s existing business; benefit its current distribution partners; expand the audience and increase engagement around its content; and provide data and analytics to inform new products and better monetize content,” Stephenson added.