Discovery Plans To Bring Oprah and Martha Stewart To A Global Audience, CEO Says

published 11.01.2021 19:16

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Discovery Communications Inc. (NASDAQ: DISCA) has been working on a streaming video platform for five years with the objective of transforming the media company from a "cable and free-to-air company to a global IP company," Discovery CEO David Zaslav said during a Bloomberg interview.

Competitive Advantage: Discovery's 2018 acquisition of Scripps Networks created a new entity that fits in with the company's longer-term streaming plans, the CEO said.

Other similar deals include a 2019 global content partnership with the BBC in which Discovery acquired streaming video rights to hundreds of hours of content.

Discovery believes its content library boasts a major advantage over rival streaming video platforms like Netflix Inc. (NASDAQ: NFLX) that offers only scripted content, he said.

Related Link: Discovery+ Streaming Platform Could Win Big With Strong Brand, Content Library Built For The World: Discovery has been building its streaming content under the assumption it can't compete unless it reaches a global audience and owns its content, Zaslav said.

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