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BFD Expert Voices - Media Deals

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Verizon has no plans to acquire content and instead has invested in building partnerships with streaming bundles, Verizon Consumer Group CEO Sowmyanarayan Sampath said Wednesday at the Paley International Council Summit.

Why it matters: The strategy has proven lucrative to major media companies like Warner Bros. Discovery to grow streaming subscribers and reduce churn.

What they're saying: When asked onstage about potential interest in content acquisitions, Sampath succinctly said, "No."

"We have some library. We'd be happy to talk about it," quipped Bruce Campbell, chief revenue and strategy officer for Warner Bros. Discovery, who joined Sampath onstage for the session moderated by Axios.

The big picture: RIP Verizon Media. Long live +play and myPlan.

In 2022, Verizon launched +play, a platform for its customers to purchase streaming and other subscription services. In 2023, it incorporated content perks into a new mobile phone plan.

"We're the OG in the subscription business," Sampath said. "We want to stay focused on mobility and broadband but use our distribution to offer value to customers."

Campbell said partnerships reduce churn, increase engagement and create marketing efficiencies. He noted the upcoming premiere of "The White Lotus" on Max as an opportunity to market its bundle with Disney+ and Hulu.

Between the lines: Bundles can help alleviate customers' struggles with discovering and managing subscriptions while also offering discounts.

"Consumers want things easy. They deserve to have things easy," Campbell said.

Verizon's offerings seek to help consumers not only sign up but also cancel, if they wish. Sampath and Campbell agreed that the cancellation process should be simple.

"We believe that our content and our products are strong enough that people are going to stay based on what we're offering," Campbell said. "Making it hard for them to cancel, that's not a long-term success strategy."

Yes, but: NCTA, an industry group representing major media companies including Warner Bros. Discovery, sued to block the Federal Trade Commission's "click to cancel" rule.

Campbell was not speaking specifically to the legislation.

What we're watching: Venu, a new streaming service that bundled sports content from Warner Bros. Discovery, Disney and Fox, is in limbo after rival Fubo TV sued it on antitrust grounds.

"I obviously can't speak about the litigation associated with Venu, but I think all the partners, we've been very clear on the outset ... the opportunity was to bring something to consumers that doesn't exist today," Campbell said.

Campbell said its distribution strategy of sports content is "evolving," and while its sports rights have primarily been associated with its linear networks, TNT and TBS, the company is looking to do more with Max.

Verizon and WBD execs share streaming strategies

The telecom sells bundles like Netflix and Max.

Verizon Consumer Group CEO Sowmyanarayan Sampath, Warner Bros. Discovery Chief Revenue and Strategy Officer Bruce Campbell and Axios' Kerry Flynn seated in chairs on a stage with a background that says The Paley Center for Media 

Verizon's Sowmyanarayan Sampath, Warner Bros. Discovery's Bruce Campbell and Axios' Kerry Flynn. Photo: John Nacion for The Paley Center for Media

Streaming media

Verizon has no plans to acquire content and instead has invested in building partnerships with <a class="gtmContentClick" data-vars-link-text="streaming bundles" data-vars-click-url="https://www.axios.com/pro/media-deals/2024/06/26/verizon-myhome-bundle-netflix-max" data-vars-content-id="3a41f214-2c90-49d9-92a4-34bc691e7550" data-vars-headline="Verizon and WBD execs share streaming strategies" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2024/06/26/verizon-myhome-bundle-netflix-max" target="_self">streaming bundles</a>, Verizon Consumer Group CEO Sowmyanarayan Sampath said Wednesday at the Paley International Council Summit.Why it matters: The strategy has proven lucrative to major media companies like Warner Bros. Discovery to grow streaming subscribers and reduce churn.

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Verizon and WBD execs share streaming strategies

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