Lights, camera, action! HBO Max is about to get a makeover like no other.
The competition in the streaming market is cut-throat, and companies are looking for every possible advantage to attract more customers. Rebranding has become a popular strategy, and now one of the industry’s biggest players, Warner Bros. Discovery, is taking on the challenge with the merging of HBO Max and Discovery Plus into a new and improved platform called Max.
With Max’s launch set for May 2023, let’s dive into what this rebranding effort entails and whether it will help the company stand out in the competitive streaming market.
Rebranding HBO Max: What’s new and why?
HBO Max’s rebranding efforts go beyond a cosmetic name change, with the streaming platform’s executives seeking to appeal to a broader audience with a fresh and dynamic new look. The “Max” brand is taking center stage, and the catchy tagline “The One to Watch” is sure to grab the attention of viewers who are on the hunt for the latest and greatest content. While the new logo features a bold and stylish design, it also incorporates design elements from the iconic HBO logo, highlighting the brand’s rich history while ushering in a new era of streaming.
Claiming to have “the most differentiated content portfolio in the world”, HBO Max wants to be recognized not only as a home for HBO content but also as a hub for a wide range of streaming content. These changes are a strategic move to differentiate HBO Max from its competitors and increase its subscriber base in a crowded streaming market.
Max’s improved features and new pricing tiers
Warner Bros. Discovery Global Streaming and International CEO, JB Perrette, has revealed how the new Max platform is set to deliver more personalized content recommendations to users by deploying both machine learning and human editorial curation. Moreover, the platform will offer an expanded kids’ profile, improved technical features and an Ultimate Ad-Free tier with an expanded catalog of 4K ultra-high definition content.
The revamped monthly subscription plans will offer users three options, including an ads-including Ad-Lite plan (US$10/month), an Ad-Free plan (US$16/month) and an Ultimate Ad-Free plan (US$20/month) with 4K content access. Users who are subscribed to the current HBO Max’s Ad-Free tier have six months to decide whether to upgrade to the Ultimate Ad-Free plan for the additional 4K content, which will be packaged similarly to Netflix’s US$20 Premium subscription.
Can HBO Max’s rebranding efforts help them stand out in the streaming market?
While Max’s new features and ambitious plans are expected to make a big impact in the crowded streaming market, a great user experience is just one piece of the puzzle. Let’s examine how Max’s rebranding efforts position it in this crowded landscape and explore whether the platform can stand out from its rivals.
With a projected compound annual growth rate (CAGR) of 21.5% from 2023 to 2030, the streaming industry is on a hot streak. While Netflix still reigns supreme in the U.S. streaming video-on-demand (SVOD) market as of Q3 2022, it has lost some ground with a 6% dip compared to Q3 2021. In April 2022, the streaming giant reported its first subscriber decliner—200,000 in the first three months of the year—in more than a decade.
Meanwhile, HBO Max emerged as a rising star, soaring from a 10% market share to 15% in 2021/22. But that’s not all—the combined power of HBO, HBO Max and Discovery Plus made them the highest earners among video streaming platforms in 2021, raking in a whopping US$35.6 billion.
However, HBO Max’s recent decision to rebrand as Max has raised eyebrows and caused some controversy among subscribers and the public. The move led to a 6% drop in Warner Bros. Discovery’s stock in April this year, with critics calling it one of “the most insane marketing decisions” ever made to drop the iconic HBO name in an attempt to “include more”. Furthermore, the merger of HBO Max and Discovery Plus has led to the removal of 36 TV shows from HBO Max content as a tax write-off strategy. To add fuel to the fire, the announcement of a Harry Potter franchise reboot sparked further backlash, with some calling for CEO David Zaslav’s ousting and questioning the company’s motives.
Despite these setbacks, HBO Max is not backing down. To differentiate itself from competitors, the company has updated its subscription plans and launched several highly anticipated HBO shows, including adaptations of The Sympathizer by Park Chan-wook and Robert Downey Jr. as well as a new Game of Thrones prequel. Whether these moves will help HBO Max stand out and attract more subscribers remains to be seen, but the company is not shying away from taking risks in a competitive industry.
Why rebranding is important for startups
Rebranding is not a new concept and is a powerful tool that startups can leverage to differentiate themselves and establish their brand identity. Let’s take a closer look at why rebranding is important for startups.
In today’s fast-paced business world, startups face intense competition as new businesses emerge regularly. By refreshing their messaging, updating their visual identity and refining their target audience, startups can better position themselves for success.
Take Uber for example, which in 2018 underwent a major rebranding effort that included a new logo, font and color scheme. This redesign helped the ride-hailing giant evolve into a more sophisticated and refined brand. Similarly, Slack and Dunkin’ Donuts (now Dunkin’) also successfully rebranded to reflect their growth and evolution.
In summary, rebranding efforts not only help startups stay relevant in an ever-changing market but also improve their market position. In the case of HBO Max, the company’s innovative approach and commitment to providing a seamless user experience position it as a strong contender in the streaming market. However, whether the company can successfully stand out from its competitors remains to be seen, as the market’s rapid growth and potential to cater to a wider audience make it a challenging landscape to navigate.
Also read:
- Why Is Rebranding Not Always Successful?
- Tips to Build a Successful Rebranding Strategy
- 8 Tips to Help a Company Rebuild Its Reputation
Header image courtesy of Flickr
