- More details emerge on the upcoming large-scale streaming service from WarnerMedia (NYSE:T), via its head of content speaking to the Television Critics Association.
- The service -- AT&T's attempt to create a counter to Netflix (NASDAQ:NFLX) -- won't skimp on exclusives, Kevin Reilly says, with regard to longtime hit show and content "crown jewel" Friends.
- While WarnerMedia recently signed a near-$100M licensing deal to keep the show on Netflix one more year, shows like that will likely ultimately end up only on WarnerMedia's service, he says: "Sharing destination assets like that, it's not a good model to share ... They should be exclusive to the service."
- They'll examine every bit of content in their library to see if it will fit the service, Reilly says, adding that there's enough content to license some to other video-on-demand services.
- The service will launch in a beta mode late in 2019, he said, while originals will likely roll out in 2020 and ramp up into 2021.
- But "We're not looking to battle with Disney (NYSE:DIS)," he says, and "We don't need to beat Netflix. We just need to be desired as a differentiated option."
- After hours: NFLX -0.3%.
- Now read: AT&T: Like Clockwork
Original article