Warner Bros Discovery revamps ‘Max’ for streaming growth. Max costs $9.99 for the ad-supported version and $19.99 for “Max Ultimate,” the ad-free tier with four concurrent streams.

The new service will test Zaslav’s goal of creating one of the world’s top streaming services by merging diverse assets, including the Barefoot Contessa culinary show, Batman, and Hanna-Barbera cartoons.

At the debut, Zaslav claimed HBO’s “one-of-a-kind storytelling” would attract customers and Discovery’s unscripted programming would keep them.

On Wednesday, Warner Bros Discovery Inc. (WBD.O) said that its long-awaited streaming service, “Max,” will launch on May 23. It will blend HBO Max’s scripted entertainment with Discovery’s reality programming.

More unscripted and children’s content will help the service surpass HBO fans.

“This is our time, this is our chance,” stated Chief Executive David Zaslav during a Warner studio press event. “This is our company’s destiny.”

Warner Bros Discovery dropped “HBO” from its streaming service moniker, which some viewers associate with custom programming but turns off others.

J.B. Perrette, global streaming president, stated, “HBO is HBO” and “should not be pushed to the breaking point” by taking on a wide mix of HBO and Discovery programming.

“We look to go broader,” Perrette added, “And we think we can compete with the biggest players in the space.”

“Succession” and “The Last of Us” will air on HBO.

It will also include a Harry Potter adaption and a precursor to “Game of Thrones” named “A Knight of the Seven Kingdoms: The Hedge Knight.”

Discovery and WarnerMedia merged in 2022 to leverage streaming video.

By the time the transaction concluded in April last year, Netflix (NFLX.O) had recorded its first subscriber decrease in almost a decade, dampening Wall Street’s excitement for streaming. Investors prioritized profits before subscriber increases, bringing Hollywood frugality.

“We are not trying to win the direct-to-consumer spending war,” CEO Zaslav told investors following the deal.

He rejected his predecessor’s COVID-19-era approach of distributing new movies in cinemas and on HBO Max.

Warner Bros. films would first be released theatrically and make money before streaming.

Warner Bros Discovery leased some of these episodes to other streaming sites to monetize its film and television collections.

Like other media businesses, Warner Bros. Discovery has lost money on its HBO Max and Discovery+ streaming offerings.

The corporation wants 130 million streaming users by 2025, a tenth of Netflix’s 231 million.

Company shares dropped about 6%.