Both groups announced a definitive agreement to combine WarnerMedia’s assets with Discovery's nonfiction and international entertainment and sports businesses to create a premier, standalone global entertainment company.
Global revenues from OTT television episode and movies will reach $210 billion in 2026, up from $106 billion on 2020, according to Digital TV Research, which also confirms that about $23 billion of that total will be added in 2021 alone.
The service reported $440 million in March of last year and 33 million monthly active users, drawing in $150 million in advertising alone. That rate of advertising revenue growth puts it about a year behind Pluto TV.
AT&T has signed a definitive agreement with TPG Capital that calls for the satellite TV provider Directv to become a standalone company in which TPG would own a 30% stake.