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HBO Max, HBO add 2.8M subscribers in Q2; WarnerMedia, AT&T revenues up

HBO Max and HBO added 2.8 million domestic subscribers in the second quarter of 2021 as WarnerMedia’s total revenues climbed to US$8.8 billion. Total domestic subscribers for HBO and HBO Max ...
July 22, 2021

HBO Max and HBO added 2.8 million domestic subscribers in the second quarter of 2021 as WarnerMedia’s total revenues climbed to US$8.8 billion.

Total domestic subscribers for HBO and HBO Max topped 47 million — up 10.7 million from the past year and 44.2 million at the end of the first quarter of 2021 — and 67.5 million globally, up 12 million in the past year.

In its Q2 report released on Thursday (July 22), parent company AT&T reported consolidated revenues of $44 billion, an increase from $41 billion in Q2 2020.

The telco giant forecasts HBO and HBO Max to reach 70 to 73 million subscribers by the end of the year.

WarnerMedia revenues were up from $8.5 billion in Q1 and 30.7% from the year-ago quarter. AT&T said those gains reflect a partial recovery from the pandemic’s impact last year, and are driven by higher revenues in content and “other,” subscription and advertising revenues.

The mediaco’s direct-to-consumer (DTC) revenues climbed 38.5%, while subscription revenues came in at $4 billion, an increase of 21.3%, primarily reflecting growth of DTC HBO Max and HBO subscription revenues following the launch of HBO Max in May 2020.

WarnerMedia’s ad revenues were $1.7 billion, up 48.5% when compared to the prior year, which AT&T attributed to news and the return of the NBA.

Content and other revenues came to $3.1 billion, up 34.9%, driven by higher third-party TV production and theatrical.

“We’re pleased with our performance and our momentum is strong,” said John Stankey, AT&T CEO. “HBO Max had another strong quarter and is ahead of plan to be a leading direct to-consumer streaming platform, with both subscriber- and ad-supported choices. As a result, we’re raising our global HBO Max year-end forecast to 70 million to 73 million subscribers. Also, we’re updating full-year guidance for consolidated revenue, wireless service revenue, adjusted EPS and free cash flow.”

HBO Max’s roster of unscripted fare includes Legendary (pictured), Baketopia12 Dates of ChristmasHaute Dog and others, including newer greenlights such as a rock climbing competition series with Jason Momoa, the upcoming FBoy Island and competition series The Real Magic Mike.

Photo by Eddy Chen/HBO Max

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