Netflix Inc. (NFLX) shares rose as much as 4.3% in Wednesday trading, following the release of details about yet another approaching competitor, AT&T Inc.'s (T) HBO Max. At a presentation Tuesday evening, AT&T detailed the content that will be available on HBO Max as well as the price ( ): $14.99 a month, the same that the company currently charges for access to the regular HBO streaming service. That is more than Netflix's most popular tier, which costs $12.99 a month in the U.S. Netflix faces a host of new competitors in the coming months ( ), including streaming services from other large, established companies such as Apple Inc. (AAPL), The Walt Disney Co. (DIS) and Comcast Corp.'s (CMCSA) NBCUniversal. AT&T shares rose as much as 2.1% in the first half-hour of trading Wednesday, but then fell back to gains of about 0.2%. Netflix shares have increased 1.9% in the past 12 months, as the S&P 500 index has gained 13.2%.
-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 30, 2019 14:46 ET (18:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.