WBD Splits Up — But Can It Catch Up?

After a mere three years as a conglomerate, Warner Bros. Discovery is cleaving itself in two, with the aptly, if not creatively, named Streaming & Studios going one way and its Global Networks another. The split is supposed to help each unit become nimbler and more focused, especially as legacy linear TV continues its decline. Also of note is that Discovery+ will land in Global Networks — not Streaming, where HBO Max falls. It remains to be seen if HBO Max will lose Discovery and other content that falls under Global Networks. Regardless, even on the Streaming & Studios side of things there could be a rocky road ahead rife with competition.

• The Measure’s longitudinal streaming study, powered by MX8 Labs, shows that 30% of surveyed viewers watch Max (as it was named at the time of the study) — far behind Netflix (72%) and other major streamers, and tied with Tubi. Younger viewers are slightly more likely to watch Max, reported by 35% of people ages 18-24. 
• Discovery+ (available at the study’s time via Max as well as a standalone subscription), ranks even lower, at a mere 13%. That’s behind even Apple TV+ (22%), which has a much smaller library and leans into prestige and high-concept shows, something critics say turn off many viewers. 
• Just 9% of respondents ranked Discovery+ as their No. 1 platform for content appeal, with that rising to 16% for Max; by comparison 40% favored Netflix content above all else, and 20% said Prime Video content was the most appealing.