So much misinformation out there. Let’s make our traditional breakdown and answer some questions about #HBOMax subscriptions-salad , Shall we?
Upgraded to #HBOMax- 30.9M
Retail #HBOMax- 9.7M
#HBO US- 3.5M
#HBO overseas- 19.7M
44.2M US, 63.9M Global #HBO+ #HBOMax subscribers.
1/
1st of all, it’s important to clarify that HBOMax added 2.8M retail subscribers on Q1 2021. Retail subscribers are the ones who subscribe directly to HBOMax, not HBO users that were upgraded to Max aka activations. For comparison, Q4 brought 3.2M retail subscribers (not 8M).
2/
Per above, the “but HBOMax added 8M subscriptions on Q4” out there isn’t true. Those were activations, not new subscriptions. In 2020, New subs were 3M on Q2 (period when HBOMax debuted), +600k (+20%) on Q3, +3.2M (+91.6%) on Q4.
In 2021, +2.8M (+42.6%) in Q1, in the US only.
3/
For perspective only, #Netflix added 800k subs on Q4 2020 & 400k subs on Q1 2021 in the US. Globally, NFLX added 4M on Q1, only 1.2M more than #HBOMax added in the US alone in the same period.
Small wonder why #Netflix shares were hammered on TUE and AT&T shares are up today.
4/
AT&T *IS NOT* reporting activations anymore. Although it could imply that all 30.9M upgraded old subscribers activated #HBOMax, there’s no way to know how many of those are watching stuff in it or in their old HBO linear channel.
But all of them are paying for it regardless.
5/
Also important to clarify- all #HBOMax numbers in the AT&T financial report are always paid subscriptions. Any that’s true for all streamers. They don’t include free subscriptions, nor subscribers during free trials, as it would damage their Average Revenue Per User.
6/
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