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HBO Max has 28.7 million subscribers, but not all of them are actually watching yet

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HBO Max, the brand new premium streaming channel from AT&T’s Warner Media, mentioned in its earnings report on Thursday that 8.6 million clients have activated their subscriptions to the service within the third quarter, bringing the whole variety of HBO and HBO Max subscribers within the US to 38 million — forward of the corporate’s goal of 37 million for the tip of 2020 — and 57 million globally.

AT&T counts “activations” in addition to subscribers, as many shoppers who already pay for HBO have entry to HBO Max as a part of their bundle, however haven’t but activated that subscription and began watching. In accordance with the earnings report, 28.7 million clients have been eligible to get HBO Max on the finish of the third quarter, however activations of HBO Max so far quantity 12.7 million, that means about half of the prevailing HBO subscribers who may get HBO Max at no cost haven’t but watched Max content material (and is probably not conscious it’s obtainable to them). And HBO Max nonetheless isn’t on main platforms like Roku, which seemingly has had an impression on subscriber progress.

The remainder of AT&T’s third quarter outcomes have been combined. Its cable division, which incorporates DirecTV, misplaced 627,000 clients within the quarter. however broadband subscribers have been up by 158,000, together with greater than 100,000 subscribers on one in every of its Preserve People Related plans. Its wi-fi division noticed a rise of 645,000 postpaid cellphone subscribers.

AT&T noticed a revenue of $2.Eight billion within the third quarter, down from $3.7 billion a yr in the past. Income was additionally decrease, coming in at $42.Three billion in comparison with $44.6 billion within the year-ago quarter. Its Warner Bros. division noticed income drop 28 p.c to $2.5 billion, taking successful from closed theaters and film releases delayed till subsequent yr. HBO’s third quarter income was down 2.1 p.c to $1.Eight billion.

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