The CEO of Discovery, David Zaslav, said that his company and all its associated brands (Discovery Channel, TLC, Food Network, and HGTV) are still doing quite well on existing cable and streaming platforms, but he’s fully aware that won’t always be the case. In order to grow, he said, Discovery has to embrace streaming.
That’s why he plans on launching a streaming service dedicated solely to Discovery content. It’s not happening anytime soon though. Speaking to a Citi investor conference this week, Zaslav said, “If we want to win in the long-term – and we have this great IP that people love that’s curated through great brands and characters that people love – we have to take that out,” referring to relying on cable viewers. The company absolutely has to, he noted, look towards streaming.
A Discovery-based streaming service has at least been in the works for several months now. Back in the third quarter of 2019, Discovery executives noted they planned to pursue streaming, both in the United States and in international markets.
So while we don’t have any idea of a price, or if it will even be a standalone platform or an agreement with existing platforms, it’s good to see Discovery embrace this market.