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Warner Media, the content company created when AT&T acquired Time Warner last year, announced Tuesday that it would be calling its new direct-to-consumer subscription streaming service "HBO Max."

Driving the news: It unveiled a new slate of programming that would debut on the service next year, include the entire "Friends" catalog, which had previously been made available on Netflix.

Why it matters: As the battle between streaming services heats up, expect more fights over "catalog" content, or older classic shows with lots of episodes that keep users hooked to their accounts.

Details: On top of "Friends," Warner Media announced several other programming updates for "HBO Max," which it says is scheduled to launch commercially in spring of 2020 with 10,000 hours of premium content.

  • It will have the exclusive streaming rights at launch to all episodes of fan favorites “The Fresh Prince of Bel Air” and “Pretty Little Liars,” as well as the exclusive rights to 'Warner Bros.’ produced dramas for The CW beginning with the fall 2019 season.
  • It will also include exclusive movie production deals with Hollywood Heavyweights like producers Greg Berlanti and ReeseWitherspoon.

Be smart: The title alludes to the fact that the service will include HBO's hit programming, as well as other content from within the Warner Media umbrella, which includes Turner, a network of cable channels, and Warner Bros.

Our thought bubble: The goal for Warner Media is likely to convert as many HBO subscribers as possible over to the new service. As of now, only a few million people subscribe to HBO's digital service, HBO Now.

  • In order for it to pay off for Warner Media to be able to afford buying exclusive rights to major catalogs, it's going to need to be able to add subscribers quickly.
  • Data suggests that some consumers will leave Netflix if the "Friends" library leaves the service.

The big picture: Netflix was able to rise to streaming dominance years ago by acquiring the streaming rights to catalogue classics at a low cost. (This was before Netflix has nearly 150 million subscribers worldwide, so the networks sold Netflix those rights on the cheap.)

What's next: Now that Warner Media, Disney, and others are building streaming services to compete with Netflix, expect to see more catalog programming get yanked from Netflix's library, and pulled onto the services of TV networks that own those titles.

  • For example, NBCUniversal announced two weeks ago that "The Office" would move to its streaming service beginning in 2021.

Go deeper

6 hours ago - Politics & Policy

Kellyanne Conway's parting power pointers

Kellyanne Conway addresses the 2020 Republican National Convention. Photo: Nicholas Kamm/AFP via Getty Images

Kellyanne Conway has seen power exercised as a pollster, campaign manager and senior counselor to President Trump. Now that his term in office has concluded, she shared her thoughts with Axios.

Why it matters: If there's a currency in this town, it's power, so we've asked several former Washington power brokers to share their best advice as a new administration and new Congress settle in.

6 hours ago - Politics & Policy

GOP holdouts press on with plans to crush Cheney

Screenshot of emails to a member of Congress from individuals who signed an Americans for Limited Government petition against Rep. Liz Cheney. Photo obtained by Axios

Pro-Trump holdouts in the House are forging ahead with an uphill campaign to oust Rep. Liz Cheney as head of the chamber's Republican caucus even though Minority Leader Kevin McCarthy told them to back down.

Why it matters: What happens next will be a test of McCarthy's party control and the sincerity of his opposition to the movement. Cheney (R-Wyo.) is seen as a potential leadership rival to the California Republican.

Democrats aim to punish House GOP for Capitol riot

Speaker Nancy Pelosi passes through a newly installed metal detector at the House floor entrance Thursday. Photo: Drew Angerer/Getty Images

House Democrats plan to take advantage of corporate efforts to cut funding for Republicans who opposed certifying the 2020 election results, with a plan to target vulnerable members in the pivotal 2022 midterms for their role in the Jan. 6 violence.

Why it matters: It's unclear whether the Democrats' strategy will manifest itself in ads or earned media in the targeted races or just be a stunt to raise money for themselves. But the Capitol violence will be central to the party's messaging as it seeks to maintain its narrow majorities in Congress.