HBO and its companion streaming service HBO Max have seen subscribers increase to almost 70 million in a positive quarter for parent company AT&T.
The pull of shows such as White Lotus and Hacks along with its day-and-date theatrical releases like The Suicide Squad saw subscribers to both services grow by 1.9 million from the previous quarter to 69.4 million.
HBO however has lost ground in the US, dipping from 47 million to 45.2 million after HBO was removed from Amazon Prime Video in September.
WarnerMedia CEO Jason Kilar, whose position at the company still remains unstable, said that the company would benefit by building direct customer relationships: “It sets us up for a larger, more valuable, business. Although it is the harder path, we think it’s the better path for the business.”
WarnerMedia’s revenue overall was US$8.4 billion for the quarter.
The investors call comes days before HBO Max begins to roll out across Europe on October 26. The service will initially launch in Sweden, Denmark, Norway, Finland, Spain and Andorra, with a further 14 countries scheduled for launch in 2022.
AT&T CEO John Stankey underlined the importance of HBO Max to the business on a call with investors: “HBO Max is the foundation of that business moving forward and how the combined Company will continue to go to market and everything that we do right now to make that product better and add customers is a step in the right direction and the consistent direction of where the closed and combined business goes.”
The company also expects the spin-off of WarnerMedia with Discovery to be complete in mid-2022, despite the Biden administration’s ongoing antitrust crackdown against megamergers.
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