HBO extends to about 77 million total subscribers as Netflix reports a drop
Key takeaways:
- HBO and HBO Max rose to 76.8 million subscribers by the end of the first quarter of 2022.
- That’s up 3 million subscribers since the last quarter.
- Earlier this week, Netflix declared its first subscriber loss in almost a decade.
HBO and HBO Max had 76.8 million subscribers at the end of the first quarter of 2022, ex-parent firm AT&T said Thursday.
That keeps a 3 million subscriber growth from the last quarter and a 12.8 million year-over-year rise.
The domestic average income per user, or ARPU, reached $11.24, up from $11.15 earlier.
The news arrived soon after Netflix announced its first subscriber loss in nearly a decade. Tuesday evening, Netflix’s disappointing profits report sent the stock falling 35% on Wednesday, brushing $50 billion from its market cap. Netflix has nearly 222 million paying households, but it counts 100 million families sharing passwords.
Netflix pointed to expanded competition and decreased pandemic conditions that had held many users glued to their screens as donating to the slowdown.
Though AT&T said the HBO results, WarnerMedia, the company that owns HBO, is now a part of Warner Bros. Discovery. The newly combined firm will report HBO results for the next quarter.