HBO Max activations doubled to 17.2 million within the fourth quarter
Gal Gadot plays Wonder Woman in “Wonder Woman 1984”.
“Wonder Woman 1984” helped double HBO Max’s activations to 17.2 million, AT&T said Thursday.
The telecommunications company that owns WarnerMedia reported that HBO and HBO Max combined now have 41.5 million domestic subscribers, up 20% from 34.6 million last year.
Of the 37.7 million HBO Max eligible subscribers, 30 million were from wholesalers and 6.8 million were through retail channels. Retail subscribers are those who purchase the streaming service directly, not through a cable or other streaming subscription.
This means that nearly half of the HBO subscribers who were eligible to receive HBO Max haven’t signed up yet.
While AT&T pointed to “Wonder Woman 1984” because of the surge in signups, much of the gains were likely due to WarnerMedia’s fourth-quarter deals to get the app on Roku devices and Amazon Fire TV.
Overall, the company said it invested around $ 800 million in HBO Max in the most recent quarter and more than $ 2 billion in total in 2020.
AT&T blamed the ongoing coronavirus pandemic for $ 1.6 billion in lower theater and TV revenues in the fourth quarter. In the period ended December 31, the company accepted a $ 780 million charge due to the impact on production and other content at WarnerMedia. Of that, around $ 520 million was due to the continued movie theater closings and AT & T’s new hybrid distribution model, which brings movies to theaters and HBO Max on the same day.
Warner Bros. revenue declined 21.2% to $ 3.2 billion due to film postponements and the increase in the number of home entertainment releases.