A powerhouse lineup of content is spearheading the launch of HBO Max, led by the multibillion-dollar Harry Potter film franchise.
The new streaming service, launched Wednesday by WarnerMedia, will offer all eight Harry Potter movies. The films, which feature Emma Watson, Rupert Grint and Daniel Radcliffe, grossed $7.7 billion for Warner Bros, over the decade they rolled out between 2001 and 2011.
The Harry Potter movies are just one of the more eye-catching offerings from the vast content library HBO Max will have access to through its parent, WarnerMedia.
Overall, HBO Max, which costs $14.99 a month, significantly more than rivals Netflix (NFLX) - Get Report ($12.99 for its most popular plan) and Disney's (DIS) - Get Report Disney+ ($6.99 a month) boasts a library of over 10,000 hours of movie and TV content, from "Crazy Rich Asians" and a "Star is Born" to old-time Hollywood classics like "Casablanca."
In addition, the AT&T (T) - Get Report owned WarnerMedia is spending $4 billion to acquire new content as it forges ahead with a major push to become a top player in the fast-growing streaming market.
A big chunk of that content expansion money went to secure "Friends" and "South Park," although HBO Max is also creating new content as well, with a new "Doctor Who," a romantic comedy series starring Anna Kendrick entitled "Love Life" and a reality show for children called "Craftopia."
HBO Max is the latest new streaming service launched with an eye to taking on industry powerhouse Netflix. WarnerMedia has laid out ambitious growth goals, estimating HBO Max will reach the 75 million to 90 million subscriber mark by 2020.
Shares of WarnerMedia's corporate parent AT&T rose 3.24% to $31.82 a share on HBO Max's launch day.