Warner Bros. Discovery surges as HBO Max inks new Asia streaming deal

Warner Bros. Discovery shares jumped almost 8% in Wednesday’s trading, leading S&P 500 gains, after the media giant unveiled a new streaming partnership in Southeast Asia.

Starting in Q4 of this year, HBO Max will join forces with leading local streamer Viu, which boasts viewers in Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

Instead of fighting for market share from scratch, Warner is tapping into Viu’s strong regional base to speed adoption and cut marketing costs. The deal means subscribers get both global blockbusters and local hits under one roof, including “Harry Potter,” DC movies, “Game of Thrones,” and Korean drama “Taxi Driver 3.”

Back in June, Warner announced plans to split into two publicly traded companies, one of which includes a new Streaming & Studios unit that will house Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, along with the company’s deep film and TV library. 

For Warner, the new deal could not only bolster exposure in the Asian market, but also boost margins and keep subscriptions coming in.

Shares of the media powerhouse are now up 14% year to date.