WarnerMedia’s HBO and HBO Max platforms ended 2021 with an estimated 73.8 million combined subscribers — exceeding company estimates of 70 million to 73 million subs, according to an AT&T regulatory filing.
The disclosure comes ahead of the appearance today (Jan. 5) of the telecom’s CFO, Pascal Desroches, at the Citi AppsEconomy Conference.
The data would suggest WarnerMedia weathered two significant hurdles in 2021: The same-day theatrical/streaming movie release strategy, and the third quarter loss of almost 2 million HBO Max subs after the service’s departure from the Amazon Channels platform.
Critics contend that after a strong start with Wonder Woman 1984 and Godzilla vs Kong, Warner Bros. theatrical releases suffered at the box office due to their concurrent free availability on Max.
Indeed, just two of the studio’s North American theatrical releases (Godzilla vs. Kong and Dune) sold more than $100 million worth of tickets in North America. Warner generated less than $650 million at the domestic box office, fourth among major studios.
The new year finds AT&T finalizing a $43 billion spin-off of WarnerMedia to Discovery for the new proposed Warner Bros. Discovery media company. With WarnerMedia CEO Jason Kilar likely exiting the company, the former Hulu boss continues to defend his controversial theatrical/streaming release strategy.
“We were the first one over the wall with this,” Kilar said in a media interview last fall. “So, we took a position of leadership. We’re the only company, for the last year-plus, that has delivered 18 movies. Nobody else has done that, nobody else has come even close. If you take a look at what the exhibitors have been saying, we were their lifeline in their period of greatest need.”