HBO and HBO Max gained 3 million subscribers before splitting from AT&T

HBO Max and HBO picked up 3 million subscribers in the identical quarter that Netflix lost 200,000 of them for the primary time in years, Variety reported. The streaming/cable service reported earnings below former dad or mum AT&T for the final time, because it’s set to change into a part of the brand new Warner Bros. Discovery media conglomerate.

The lion’s share of latest HBO/HBO Max subs had been within the US (1.8 mllion), and the providers now rely 48.6 million subscribers domestically and 76.8 million worldwide. That’s up 12.8 million over final year, displaying strong progress. (HBO Max prices $15 monthly ad-free or $10 with adverts, and HBO on cable is $15 monthly.)

However, it was nonetheless a drag on dad or mum AT&T (for the final time). WarnerMedia income was down 32.7 % over final year to $1.3 billion because of investments in HBO Max and the failed launch of CNN+.

That’s basically why AT&T determined to divest WarnerMedia and focus strictly on its core telecom business. To wit, the company introduced its largest acquire in post-paid telephone web additions in additional than a decade. Excluding WarnerMedia and different divested companies, AT&T income was $29.7 billion, up 2.5 % over the identical quarter final year.

With WarnerMedia and Discovery divested, AT&T plans to speculate any free money in 5G and fiber deployments (it nonetheless has $169 billion in debt, regardless of the $43 billion greenback deal to promote WarnerMedia.) “AT&T has entered a new era,” stated CEO John Stankey in a ready assertion throughout the company’s earnings name.

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