AT&T raises subscriber forecast for HBO Max as streaming booms
Reuters
Published Mar 12, 2021 09:01AM ET
Updated Mar 12, 2021 10:20AM ET
(Reuters) - AT&T Inc (NYSE:T) said on Friday it expects global subscribers of between 120 million and 150 million for HBO Max and HBO by the end of 2025, raising its forecast as more people turn to cheaper streaming services for entertainment.
The U.S. wireless company previously projected 75 million to 90 million subscribers for the same period.
The forecast raise comes as HBO Max, which includes 10,000 hours of content from WarnerMedia brands and libraries such as Warner Bros, New Line Cinema and Cartoon Network, competes in a crowded streaming landscape dominated by Netflix Inc (NASDAQ:NFLX), Walt Disney (NYSE:DIS) Co-owned Disney+ and Amazon.com Inc (NASDAQ:AMZN)'s Prime Video.
An advertising-supported version of HBO Max will launch in the United States in June, and HBO Max will expand internationally to 60 markets, the company said.
AT&T expects its HBO business unit revenues to more than double over the next five years.
Shares of AT&T were up 1.5% at $29.99 per share in morning trading on the New York Stock Exchange. AT&T will host an investor and analyst presentation later on Friday.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.