Randall Stephenson, CEO, AT&T

Patrick T. Fallon | Bloomberg | Getty Images

Randall Stephenson, CEO, AT&T

AT&T will launch a streaming service to rival Netflix next year, the company said Wednesday.

The new service, anchored by HBO as lead brand, will host all of WarnerMedia’s other properties, including movie and TV franchises, and follows AT&T’s purchase of Time Warner earlier this year. AT&T — which already owned DirecTV — has been broadening its advertising and media offerings since closing the deal.

“Around HBO will come a great library of additional content form not only the WarnerMedia properties but also some selective third party licensed content,” WarnerMedia CEO John Stankey said during an on-stage interview at the Vanity Fair New Establishment Summit Wednesday.

“And the driver behind this is really straight forward. We know there’s customers who love to engage with our content — we’ve got a great history of building it — much of which they can’t get in one place,” he said.

AT&T already offers a handful of streaming services. DirecTV Now is a cable replacement that lets users stream live TV. HBO Go is a streaming version of HBO that requires a cable login. HBO Now is a standalone streaming service for HBO content. The new service, AT&T said, will be a standalone streaming service and host content from HBO as well as other WarnerMedia properties.

The company didn’t name specific properties to be included in the service, but owns movie studio Warner Brothers and franchises like Batman.

Stankey said the new platform will come at a “compelling price point” but declined to pinpoint a price. The service will launch in the fourth quarter of 2019.

This is breaking news. Please check back for updates.

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