HBO, HBO Max notch 47 million domestic subscribers
AT&T, based in Dallas, needs to pay down a crushing mountain of debt. Under pressure from investors, it has said it will focus on its core wireless business in a competitive phone market. AT&T also isIn the recent quarter, WarnerMedia rolled out an advertising-supported plan for HBO Max.It has become one of the industry’s most popular streaming services and, because of its higher price of $14.
AT&T said Thursday that HBO Max has 12 million retail customers and an additional 31.5 million wholesale customers, which include subscribers who have both the HBO television channel and HBO Max subscriptions. The legacy HBO business has nearly 3.5 million customers. Helped by HBO, WarnerMedia revenue increased 30.7% to $8.8 billion in the second quarter, reflecting a return to a more normal environment. A year ago, WarnerMedia suffered from the loss of live sports, closed theaters and an interruption in TV and movie production. WarnerMedia generates $4 billion from its subscription businesses, which also include the Turner channels and CNN.
The company posted operating income of $1.7 billion in the quarter, a 11.3% decline from the previous year. Higher revenues were more than offset by the company’s investments in HBO Max and higher sports costs.The company now expects to have as many as 73 million global HBO Max and HBO subscribers by year’s end.
“In the end, you are going to live or die by whether your programming team is killing it,” Forssell said. “And our programming teams have been killing it.”
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