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HBO and HBO Max Add 2.7 Million Subscribers in Q1, AT&T Reports Exceed Wall Street Revenue Expectations – Deadline

On a combined basis, HBO and HBO Max added 2.7 subscribers in the first quarter, reported parent company WarnerMedia, AT&T.

Strong streaming returns helped the telecommunications and media giant beat Wall Street expectations in the quarter. Adjusted earnings of 86 cents per share rose 2% and beat analyst consensus forecasts by 86 cents.

Total revenues reached $ 43.9 billion, up nearly 3% and ahead of the number of streets.

HBO Max, the nearly year-old streaming service available at no additional cost to HBO subscribers, has boosted HBO’s overall number to 44.2 million subscribers. The average revenue per user was $ 11.72.

Last year, WarnerMedia decided to give HBO Max some extra ammo by putting the Warner Bros. movies on the service at the same time they make their theatrical debut. The exit approach, which stunned Hollywood, will hold true for the entire 2021 list. Management has explained it as a response to theater closings during the coronavirus pandemic.

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The release of the studio Godzilla vs. Kong was the biggest at the box office during the pandemic, approaching $ 100 million in the United States and $ 400 million globally. But the monster movie was released on March 31, the last day of the quarter, so the results reflect the addition of movies like Tom and Jerry and The small things at HBO Max.

WarnerMedia reported a 10% gain in overall revenue, to $ 8.5 billion, which AT&T said reflects a “partial recovery” from the worst of Covid-19. Advertising revenue jumped 18.5% due to the return of the NCAA men’s basketball tournament, which the pandemic completely wiped out in 2020. Direct-to-consumer subscription revenue increased 35%.

Content revenue increased, which the company attributed to increased sales to HBO Max for motion picture products and basic network licenses. These gains were partially offset by lower TV product licenses compared to the previous year’s licenses to HBO Max.

In previous quarters, AT&T had reported an “activation” number for HBO Max – as of Q4 2020, it was 17.2 – indicating how many HBO customers had activated their streaming subscriptions. He now plans to release a combined figure each quarter, which is in line with his goals for HBO Max. Globally, HBO and HBO Max have reached 63.9 million subscribers.

Earlier this year, AT&T raised its forecast for HBO Max, saying it expects 120-150 million global subscribers by 2025, half of them in the U.S. International rollout is expected to begin in June. , at the same time as an ad-supported level launches. The current, ad-free version will remain $ 15 per month for those without an HBO subscription, with expectations for the AVOD version at $ 10 or just below.

The company’s Mobility division recorded 823,000 subscriber additions during the quarter, with revenue up 9%.

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