WarnerMedia’s U.S. direct-to-consumer business took a hit in the third quarter, as it lost a net 1.8 million HBO and HBO Max customers after its deal with Amazon to carry HBO expired. But int…
said it expects to reach the higher end of its year-end forecast of 70 million-73 million global HBO Max/HBO subscribers.once AT&T’s deal to merge WarnerMedia with Discovery closes, has said that the decision to wind down the Amazon distribution deal for HBO was a strategic decision — so that the media company could own its customer relationships through HBO Max.
As of Sept. 15, HBO subscriptions through Amazon Prime Video Channels officially shut down, WarnerMedia tried to with aWarnerMedia’s total revenue for Q3 was $8.4 billion, up 14.2% versus the year-ago quarter, driven by a 25% increase in direct-to-consumer revenue and a “partial recovery” from prior-year impact of the COVID pandemic.
The media division’s Content and Other revenue was $3.1 billion, up 31.7%, driven by higher TV licensing sales and an increase in theatrical revenue. Ad revenue fell 12.4%, to $1.4 billion, which WarnerMedia attributed to timing of the NBA season in the year-ago quarter and lower political ad spending in the most recent quarter. WarnerMedia’s operating income was $2.0 billion, up 15.
As AT&T execs have previously told investors, the company expects most HBO Max subscriber growth in the second half of 2021 to come from outside the U.S. HBO Max in June began its global rollout, launching in 39 markets across Latin America and the Caribbean in June, andas it begins replacing HBO-branded streaming services in those markets.
Overall, AT&T beat Wall Street estimates on the top and bottom lines. Q3 revenue was $39.9 billion, down 5.7% year over. The drop primarily was due to the July 31
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