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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

Students vandalize and steal from schools for viral TikTok challenge

TikTok logo displayed on a phone screen in Krakow, Poland on July 18, 2021. Photo: Jakub Porzycki/NurPhoto via Getty Images

A viral TikTok challenge is leading students nationwide to shatter mirrors, steal fire alarms and intentionally clog toilets, The Washington Post reports.

Driving the news: Dubbed the the “Devious Licks challenge, students are showing off their "devious licks" on TikTok — with a sped-up version of "Ski Ski BasedGod" by rapper Lil’ B playing in the background.

Axios-Ipsos poll: People of color face more environmental threats

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Data: Axios/Ipsos poll; Note: ±2.5% margin of error; Chart: Sara Wise/Axios

Americans of color are much less likely than white Americans to experience good air quality or tap water or enough trees or green space in their communities, and they're more likely to face noise pollution and litter, a new Axios-Ipsos poll finds.

The big picture: Our national survey shows Black and Hispanic Americans are more likely than their white counterparts to live near major highways or industrial or manufacturing plants — and to have dealt in the past year with water-boil notices or power outages lasting more than 24 hours.

18 hours ago - Health

FDA advisory panel recommends Pfizer boosters for those 65 and older

A healthcare worker prepares a dose of the Pfizer-BioNTech Covid-19 vaccine at the Key Biscayne Community Center on Aug. 24, 2021. Photo: Eva Marie Uzcategui/Bloomberg via Getty Images

A key Food and Drug Administration advisory panel on Friday overwhelmingly voted against recommending Pfizer vaccine booster shots for younger Americans, but unanimously recommended approving the third shots for individuals 65 and older, as well as those at high-risk of severe COVID-19.

Why it matters: While the votes are non-binding, and the FDA must still make a final decision, Friday's move pours cold water on the Biden administration's plan to begin administering boosters to most individuals who received the Pfizer vaccine later this month.