Partnership Between Two of the Largest Media
and Distribution Companies Combines Linear Video and
Direct-to-Consumer Streaming Services for Maximum Customer
Value
NEW
YORK and STAMFORD,
Conn., Sept. 12, 2024 /PRNewswire/ --
Warner Bros. Discovery Inc. (NASDAQ: WBD) and Charter
Communications, Inc. (NASDAQ: CHTR) today announced a
groundbreaking, multi-year distribution partnership that
re-imagines the future of video by fully integrating linear video
and streaming services. With this early renewal, the agreement
further evolves the video ecosystem with more value and flexibility
in video bundles, deeper libraries and more choice to better align
with customers' current viewing preferences.
"This innovative partnership with Charter recognizes the value
of our linear content and the investments we've made in premium
original programming, sports and news, while also significantly
expanding the distribution of Max's ad-supported service to
Spectrum's millions of Select customers," said David Zaslav, President and CEO of Warner Bros.
Discovery. "We did this agreement together nearly a year early to
set a framework for the future and to provide more consumers access
to our unparalleled content offering while giving the industry more
resilience as it evolves. We are pleased this achieves each of our
company's objectives."
Charter, the industry leader in customer package flexibility,
hybrid direct-to-consumer (DTC) linear models and soon-to-launch
DTC to broadband distribution, has joined forces with WBD, the
global leader in premium original programming, film, news and
sports. This transformational agreement now provides the premium
service of Max (Ad Lite), including all HBO and Max content as well
as Discovery+, across all Spectrum TV Select packages at no
extra charge to customers, through a mutually beneficial new
arrangement between the two companies. The addition of Max and
Discovery+ represents a game-changer for Spectrum's bundle
proposition, which will offer nearly $60 per month of retail
DTC value included when added to Disney+, ESPN+, Paramount+, AMC+,
BET+ and Vix.
"This strategic relationship with WBD further evolves the linear
and broadband video distribution model and supports Spectrum's
efforts to provide flexible packages, whether through hybrid
linear-DTC full video relationships, smaller video packages with
DTC add-ons, or a suite of a-la-carte or bundled DTC options for
broadband customers," said Chris
Winfrey, President and Chief Executive Officer, Charter
Communications, which operates the Spectrum brand. "The inclusion
of the ad-supported version of Max and Discovery+ in our most
popular packages at no additional cost ensures we provide the most
value to our customers, particularly when combined with the utility
of Xumo, which seamlessly integrates live linear, DVR and VOD, DTC,
and SVOD content with unified search and discovery for the best
overall customer experience. WBD's creativity and commitment to a
healthier video ecosystem further enables us to deliver on our core
principles to create value and choice for customers."
This long-term agreement favorably extends Spectrum's carriage
of WBD's linear network portfolio, including TNT, CNN, Food
Network, HGTV, TLC, Discovery, TBS, Adult Swim and Investigation
Discovery, backed by the largest video distributor serving the
biggest media markets. The deal also establishes Max as a
"preferred partner" for Spectrum when marketing and selling DTC
apps and bundles to broadband subscribers, creating a significant
opportunity that will reach Charter's full video and broadband
customer base. Spectrum plans for a full deployment of its DTC
distribution to broadband customers in 2025, following the 2024
deployment of its DTC inclusion and upgrade offers. Spectrum's DTC
distribution plan will include separate pricing, packaging and
billing capabilities for DTC video services to broadband
customers.
Financial terms of the agreement were not
disclosed.
About Warner Bros. Discovery
Warner Bros. Discovery is a leading global media and entertainment
company that creates and distributes the world's most
differentiated and complete portfolio of branded content across
television, film, streaming and gaming. Available in more than 220
countries and territories and 50 languages, Warner Bros. Discovery
inspires, informs and entertains audiences worldwide through its
iconic brands and products including: Discovery Channel, Max,
discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food
Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT,
TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science
Channel, Warner Bros. Motion Picture Group, Warner Bros. Television
Group, Warner Bros. Pictures Animation, Warner Bros. Games, New
Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies,
Discovery en Español, Hogar de HGTV and others. For more
information, please visit www.wbd.com.
About Charter
Charter Communications, Inc. (NASDAQ: CHTR) is a leading broadband
connectivity company and cable operator with services available to
more than 57 million homes and businesses in 41 states through its
Spectrum brand. Over an advanced communications network, the
Company offers a full range of state-of-the-art residential and
business services including Spectrum Internet®, TV,
Mobile and Voice.
For small and medium-sized companies, Spectrum
Business® delivers the same suite of broadband
products and services coupled with special features and
applications to enhance productivity, while for larger businesses
and government entities, Spectrum
Enterprise® provides highly customized, fiber-based
solutions. Spectrum Reach® delivers tailored advertising
and production for the modern media landscape. The Company also
distributes award-winning news coverage and sports programming to
its customers through Spectrum Networks. More information about
Charter can be found at corporate.charter.com.
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SOURCE Charter Communications, Inc.