Today, AT&T released their Q1(1st quarter of 2021) earnings report, touting steady their steady growth as a company. HBMOAX was at the forefront of the conversation with subscribers increasing by 3 million, since 2020. In addition, they also talked about their future projections for the streaming service, and also announced a discounted version of HBOMAX heading to the US in June.
By the end of 2020 (Q4), HBO+HBOMAX had 41.5 million subscribers. By the end of March 2021 (Q1), HBO+HBOMAX has 44.2 million Domestic Subscribers. AT&T CEO, John Stankey commented,
“HBO Max continued to deliver strong subscriber and revenue growth in advance of our international and AVOD launches planned for June,”
Wallstreet analyst expected AT&T to conclude their Q1 (2021) with a revenue of $42.7 billion and adjusted earnings of 78 cents per share. AT&T beat those expectations, ending Q1 (2021) with a revenue of $43.9 billion and adjusted earnings per share of 86 cents.
COVID-19 proved an obstacle for many companies, but Warner Media, a subsidiary of the parent company AT&T, reported a 9.8% increase compared to Q1 of last year (2020). Which puts them up $8.5 billion in revenue. They credited, higher subscriptions, advertising, and content revenue for this growth.
In Q1 of 2021, HBOMAX had an increase of 2.8 million subscribers, putting them at 9.96 million subscribers (6.88 million Q4 2020). The increase was made possible by HBOMAX originals such as Zack Snyder’s Justice League, and also because of Warner Bros’ day-and-date release strategy for their tentpole-blockbuster films. Which meant every theatrical Warner Bros release, would simultaneously debut on HBOMAX on the same day, for the duration of a month, with NO extra cost, besides your existing subscription payment. This strategy started with Wonder Woman 1984 and most recently continued with Godzilla vs Kong. Which has been having one of the most impressive recent theatrical runs, garnering $80 million after just 19 days. For comparison, Wonder Woman 1984 only grossed $32 million after 19 days. This is reportedly the biggest viewing audience for any HBOMAX property, though they have not disclosed specific numbers. But this not only signals a brighter future for theaters as we exit the COVID-19 pandemic, but it signifies growth of Warner Media as a whole.
By the end of 2020, HBO+HBOMAX had a total of 61 million worldwide subscriptions. Now they sit at 63.9 million by the end of Q1 (2021). And by the end of 2021, AT&T expects to cap off the year with 67-70 million subscribers worldwide.
With the new strategy that HBOMAX will be implementing in June, with the service introducing a cheaper version of HBOMAX accompanied by ads, that could be possible. In addition, for the remainder of 2021 and 2022, Warner Bros will resume their day-and-date release strategy of their tentpole films. Which means we can still expect to enjoy films such as The Suicide Squad and Space Jam: A New Legacy in the comfort of our homes.
Lastly, this year, WarnerMedia expects to launch HBO Max in 60 markets outside the U.S. Including 39 territories in Latin America and the Caribbean in late June and 21 territories in Europe in the second half of 2021.
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