HBO will get a bigger budget under AT&T to compete with Netflix, but the fight will be fierce

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AT&T wants to increase HBO's budget to develop more original content and compete with Netflix.

AT&T gained control of HBO after its purchase of Time Warner was approved this week.

Hill - Netflix - Content - Eyes - Consumers

It might be a steep hill to climb, though, as Netflix is dominating in original content in the eyes of consumers.

AT&T has big plans for HBO.

Judge - AT - T - Purchase - Time

A judge approved AT&T's $85 million purchase of Time Warner this week after the Justice Department attempted to block the deal with an antitrust lawsuit. That means that the wireless carrier now controls premium cable network HBO.

In an interview with Bloomberg, John Stankey, the incoming head of AT&T's entertainment division, said that he wanted to increase HBO's budget and invest "heavier in content development" in an effort to compete with streaming giant Netflix.

Bloomberg - Notes - Budget - HBO - Netflix

Bloomberg notes that even with an increased budget, it would be hard for HBO to rival Netflix: HBO's programming budget for original shows and film deals in...

(Excerpt) Read more at: Business Insider

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