Comcast pulling movies from Netflix and HBO Max
Comcast Corp.’s NBCUniversal is thinking of pulling its films from Netflix and HBO Max streaming platforms. It is going to spare the following film releases for its streaming service Peacock. It was created a year ago and has got 33 million accounts. The final decision has not been taken yet.
The central part of Walt Disney Co. and Warner Bros’s (owner AT&T) streaming platforms is their original movies. Disney didn’t prolong its contract with Netflix, keeping its films for its streaming service. AT&T is doing its best to show the freshly released movies the same day they are shown in cinemas. These companies invest a great amount of money to raise their infant streaming platforms.
Due to the COVID-19 situation, the time between a film’s release and its availability at homes was shortened by Universal, Warner Bros., and Disney, and viewers, in their turn, got accustomed to watching new movies at their homes as soon as possible after their release. This made streaming services compete even more for original movies.
Media companies, investing significantly in streaming platforms have been given higher stock prices. Recently Disney has become Netflix’s rival, and its stocks grew 70% over the last several years. ViacomCBS Inc. and Discovery Inc. in their turn are reaping the fruits of online investment.
Last summer Universal was considering licensing its films to other companies, but because of the coronavirus pandemic, the negotiations went slower. A hybrid deal, in which Peacock shares its rights with another service, is thought of as well.
Netflix and HBO Max have been relying on their own movies recently to be ready for losing licensed movies. For instance, Netflix produced about 60 films last year, winning Oscar nominations as well. Nevertheless, the loss of films would be tough for both companies, as broadcasting Hollywood movies helps to withhold the audience. HBO Max has got contracts for new films with Warner Bros., Fox, and Universal; Netflix, on the other hand, screens movies by Illumination, ViacomCBS’s Nickelodeon, and Sony Corp.’s Sony Pictures Animation.