Netflix Subscribers, Say Goodbye to Friends

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In addition, the company confirmed long-expected news that it has secured the domestic streaming rights to the still-popular reruns of 236 episodes of "Friends" as of 2020, when Netflix's licensing contract for the '90s show expires.

WarnerMedia announced earlier today that the Netflix-challenger that the AT&T-owned conglomerate is bringing to the great streaming wars will be called HBO Max.

The Tuesday announcement is another blow to Netflix, which paid WarnerMedia about $100 million to keep "Friends" on its service late previous year, the New York Times reported. A number of originals are already in the pipeline, including Dune: The Sisterhood, Station Eleven, The Flight Attendant, Made for Love, Gremlins, Love Life, and Tokyo Vice.

It is also making original movies and series for the service, including a romantic comedy with Anna Kendrick and at least two movies produced by Reese Witherspoon. It will also be the exclusive streaming home to new Warner Bros.' produced series for The CW beginning with the fall 2019 season, including the highly-anticipated new DC Entertainment show Batwoman, and the upcoming Riverdale spin-off Katy Keene.

As a result, the new service will also include exclusive streaming rights to shows like "The Fresh Prince of Bel Air" and "Pretty Little Liars". Thanks for the memories, gang ☕.

These series may soon migrate to Disney+, CBS All Access, and WarnerMedia and NBC Universal's streaming services. Its content slate includes programming from HBO, Warner Bros., DC Entertainment, New Line, Adult Swim, Crunchyroll, CNN, Cartoon Network, The CW, Looney Tunes, Turner Classic Movies, TNT, TBS, truTV, and Rooster Teeth, as well as a "robust" collection of new originals. We do know HBO is promising "10,000 hours of premium content", which will definitely get you through a few lazy weekends. Included as part of HBO Max's library are properties from Warner Bros. Both shows are thought to be two of the most popular on Netflix, which means the company will have to continue funding new programming in order to find another new hit to keep subscribers engaged.

Tony Goncalves, CEO of Otter Media, now oversees the development of HBO Max with Andy Forssell, also from Otter Media and formerly CEO of Hulu, as the general manager.

Netflix has become one of the top streaming services in the industry, remaining ad-free while increasing the monthly subscription cost from $8.99 to $12.99 in the last five years.