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HBO, HBO Max Near 70M Global Subs, Despite Estimated 5M Sub Loss Due to Amazon Channels Exit

AT&T Oct. 21 announced that WarnerMedia’s branded HBO property had 69.4 million HBO Max and HBO combined subscribers globally at the end of the third  quarter (ended Sept. 30). That tally is up 12.5 million subs from the previous-year period of 56.9 million. Domestic subs topped 45.2 million, up 7.1 million, from 38.1 million a year ago.

Notably, AT&T said Max subs increased 1.9 million from the second quarter (ended June 30), but were offset by an estimated 5 million sub loss due to Max’s departure from the Amazon Channels platform affording Prime members direct access to third-party SVOD apps. AT&T made the decision to withdraw due to Amazon’s margins on Max subs, among other issues. Other high-profile SVOD exits from Amazon Channels include Netflix and Disney+.

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AT&T said the average revenue per HBO/HBO Max sub is $11.82 monthly, with total WarnerMedia revenue up 14.2% to $8.4 billion. Overall direct-to-consumer subscription revenue is up about 25%.

WarnerMedia assets include Warner Bros. Pictures, HBO and Turner.

“We continue to execute well in growing customer relationships, and we’re on track to meet our guidance for the year,” John Stankey, CEO of AT&T, said in a statement.

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