AT&T to Launch New Streaming Service Called AT&T TV
AT&T will begin trialing a new over-the-top streaming service in the third quarter of the year called AT&T TV.
Announced during the company's second-quarter earnings call on Wednesday, AT&T TV will be added to the company's other streaming options. The already available DirecTV Now and Watch TV. The latter service is bundled with certain unlimited wireless data plans and offers over 35 live channels including AT&T-owned TBS, TNT and CNN. HBO Max, AT&T's forthcoming Netflix rival that will host programming from the company's WarnerMedia group, will also offer live programming in addition to HBO, Time Warner and Warner Bros. films and TV shows.
Details related to the AT&T TV are sparse, and pricing is similarly not yet known. What we know is that the new service will have an Android TV box and that it will be able to be self-installed by consumers potentially leading to cheaper prices.
"This summer we will launch a new entertainment experience called AT&T TV," an AT&T said in a statement. "We're piloting it in select markets this summer before expanding availability on a rolling basis throughout the year. We'll share more information in the coming weeks."
Premium TV subscribers decline
AT&T exceeded analyst expectations on Wednesday for net wireless subscribers who pay a monthly bill, as it continued to bundle media content from Time Warner into new wireless plans.
But the second-largest U.S. wireless carrier by subscribers lost more premium TV subscribers than the previous quarter as viewers moved to streaming services like Netflix.
AT&T lost 778,000 premium TV subscribers, a category that includes DirecTV satellite and U-verse television customers, much more than the 544,000 lost in the first quarter. The company also lost 168,000 streaming DirecTV Now accounts. AT&T said it expects a similar level of video losses to continue in the current quarter.
Still, it added a net 72,000 phone subscribers.
AT&T closed its $85-billion acquisition of media company Time Warner in June last year, creating a new business segment called WarnerMedia to house assets including the Turner TV networks and premium channel HBO.
The new WarnerMedia segment, which includes Turner and premium TV channel HBO, reported revenue of $8.4 billion.