The service will focus on entertainment and won't include news "at first," CNN added.

Whether or not it's an enticing offering will depend on both the content lineup and the pricing, of course. However, the announcement could also raise concerns about the fate of WarnerMedia's programming on other services. Disney, for instance, won't bring future Marvel movies to Netflix now that its own platform is on the way (in a similar time frame to Warner's, we'd note). Will Warner do the same? There's a worry that viewers will have to subscribe to a raft of studio-specific services just to watch everything they want, which could either raise rates or drive people to piracy.