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Warner Bros. Discovery (WBD) to Launch CNN Max News Channel
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Warner Bros. Discovery (WBD - Free Report) announced the launch of CNN Max, a 24/7 streaming news offering on its flagship platform Max. This offering aims to enhance engagement and is set to debut in the United States on Sep 27.
After CNN's previous brief streaming venture failed last year, this news channel will be introduced as an open beta, allowing the platform to test new features and original storytelling. Subscribers of Max will have the opportunity to provide valuable feedback on the service's performance.
CNN Max will utilize CNN's renowned journalism, worldwide news coverage and live broadcasts from CNN U.S. and CNN International. The service will also incorporate original content designed exclusively for Max.
This unique offering will be accessible through a broad-reaching streaming service in the United States, catering to a notably younger and supplementary audience compared with conventional television.
The initiative will be spearheaded by notable CNN anchors, such as Jim Acosta, Rahel Solomon, Amara Walker, Fredricka Whitfield and Jim Sciutto, alongside various other contributors and correspondents.
Fox extends its coverage, excluding Fox News Channel hosts, through its LIVENow from Fox service on FAST. LiveNOW delivers up-to-the-minute breaking news, live events and unfolding stories from around the country. It provides continuous streaming on television, mobile devices and computers.
ABC News functions as the news segment of the American television network ABC. The principal show is the daily evening news broadcast named ABC World News Tonight hosted by David Muir. Additional programs encompass the Nightline, Primetime and 20/20.
CBS News operates as the news segment of the American television and radio network CBS. It encompasses various television programs, such as the CBS Evening News and CBS Mornings, news magazine shows like CBS News Sunday Morning as well as the Sunday morning political discussion program Face the Nation.
CNN Max's introduction marks a significant step for CNN to bridge the gap that has existed for years between the network and its competitors. Its competitors have established shows which would be difficult to compete, but with some of CNN’s content and brand loyalty, it is expected to boost subscribers as well as revenues in the upcoming quarters.
The Zacks Consensus Estimate for second-quarter 2023 total direct-to-consumer (DTC) subscribers is pegged at 101,600, indicating year-over-year growth of 7.06%. The Zacks Consensus Estimate for 2023 revenues is pegged at $41.98 billion, indicating year-over-year growth of 24.13%.
Shares of WBD have gained 34% year to date compared with the Zacks Consumer Discretionary sector’s rise of 10% in the same period due to steady growth in the DTC subscribers and revenues in the previous quarters as well.
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Warner Bros. Discovery (WBD) to Launch CNN Max News Channel
Warner Bros. Discovery (WBD - Free Report) announced the launch of CNN Max, a 24/7 streaming news offering on its flagship platform Max. This offering aims to enhance engagement and is set to debut in the United States on Sep 27.
After CNN's previous brief streaming venture failed last year, this news channel will be introduced as an open beta, allowing the platform to test new features and original storytelling. Subscribers of Max will have the opportunity to provide valuable feedback on the service's performance.
CNN Max will utilize CNN's renowned journalism, worldwide news coverage and live broadcasts from CNN U.S. and CNN International. The service will also incorporate original content designed exclusively for Max.
This unique offering will be accessible through a broad-reaching streaming service in the United States, catering to a notably younger and supplementary audience compared with conventional television.
The initiative will be spearheaded by notable CNN anchors, such as Jim Acosta, Rahel Solomon, Amara Walker, Fredricka Whitfield and Jim Sciutto, alongside various other contributors and correspondents.
Warner Bros. Discovery, Inc. Price and Consensus
Warner Bros. Discovery, Inc. price-consensus-chart | Warner Bros. Discovery, Inc. Quote
CNN Max Faces Tough Competition From Established Players
This Zacks Rank #3 (Hold) company is set to offer live-streaming news services via free ad-supported streaming TV (FAST) channels. The company faces competition from well-established players like Fox (FOXA - Free Report) news, Cumulus Media’s (CMLS - Free Report) ABC news and Paramount Global’s (PARA - Free Report) CBS news. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox extends its coverage, excluding Fox News Channel hosts, through its LIVENow from Fox service on FAST. LiveNOW delivers up-to-the-minute breaking news, live events and unfolding stories from around the country. It provides continuous streaming on television, mobile devices and computers.
ABC News functions as the news segment of the American television network ABC. The principal show is the daily evening news broadcast named ABC World News Tonight hosted by David Muir. Additional programs encompass the Nightline, Primetime and 20/20.
CBS News operates as the news segment of the American television and radio network CBS. It encompasses various television programs, such as the CBS Evening News and CBS Mornings, news magazine shows like CBS News Sunday Morning as well as the Sunday morning political discussion program Face the Nation.
CNN Max's introduction marks a significant step for CNN to bridge the gap that has existed for years between the network and its competitors. Its competitors have established shows which would be difficult to compete, but with some of CNN’s content and brand loyalty, it is expected to boost subscribers as well as revenues in the upcoming quarters.
The Zacks Consensus Estimate for second-quarter 2023 total direct-to-consumer (DTC) subscribers is pegged at 101,600, indicating year-over-year growth of 7.06%. The Zacks Consensus Estimate for 2023 revenues is pegged at $41.98 billion, indicating year-over-year growth of 24.13%.
Shares of WBD have gained 34% year to date compared with the Zacks Consumer Discretionary sector’s rise of 10% in the same period due to steady growth in the DTC subscribers and revenues in the previous quarters as well.