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Investing.com -- Warner Bros Discovery (NASDAQ:WBD) announced on Wednesday that it will provide sports and news content at no additional charge to standard and premium subscribers in the U.S. on its streaming platform, Max. This decision comes as a response to the growing shift of consumers from cable TV networks to streaming services.
Media companies like Warner Bros Discovery are capitalizing on this trend to increase their market share and draw in advertisers by showcasing live sports events on their platforms. The company’s initial plan was to charge customers $9.99 a month starting from March 2024 for premium sports add-ons. These add-ons included a wide range of sporting events from leagues like the National Hockey League, National Basketball Association, and U.S. Soccer.
However, due to unspecified technical reasons, the streaming service extended the promotional period. Reversing its initial plan, Warner Bros Discovery stated on Wednesday that it would not pursue the additional charges for sports content.
In addition to this, the company also announced that CNN Max, which offers a news streaming feed and sports content, will not be included in the basic ad-supported plan from March 30 onwards.
Earlier this year, Comcast (NASDAQ:CMCSA) revealed its strategy to stay competitive in the streaming era. It included the launch of Sports & News TV, a new video package for its Xfinity internet customers. This move by Warner Bros Discovery aligns with the industry trend of enhancing streaming offerings to remain competitive.
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