HBO Max’s growth continues to impress as the streaming service had a great first quarter of 2021. Thanks to debuting blockbusters such as Godzilla vs. Kong and Zack Snyder’s Justice League, the streaming service saw nearly 3 million additional subscribers. That amounts to a staggering number of 44.2 million customers for both HBO and HBO Max domestically. That is up from 2020’s $41.5 million mark.
“We continued to excel in growing customer relationships in our market focus areas of mobility, fiber and HBO Max,” said AT&T CEO John Stankey. “We had another strong quarter of postpaid phone net adds, higher gross adds, lower churn and good growth in Mobility EBITDA. We also continue to increase penetration in markets where we offer fiber broadband and we’re moving quickly to deploy more fiber. HBO Max continued to deliver strong subscriber and revenue growth in advance of our international and AVOD launches planned for June.”
WarnerMedia’s direct-to-consumer subscription revenue is up roughly 35 percent, while its total revenue now sits at 8.5 billion. That is up nearly 10 percent. “Content revenues were $3.4 billion, up 3.5 percent due to higher sales to HBO Max for theatrical product and higher basic networks licensing,” the company announced in its financial report. “[This is] partly offset by lower television product licensing from prior-year licensing to [the streaming service].”
Clearly, HBO Max’s move of putting films on its streaming service in addition to theaters during the pandemic has paid off.