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HBO Max shows growth despite industry slowdown

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WarnerMedia’s HBO Max streaming service gained subscribers through the holidays, defying the slowing pace of growth at some rival services, thanks to a programming lineup that included the revival of its popular “Sex and the City” series and newly released films such as “The Matrix Resurrections.”

HBO ended the year with 73.8 million subscribers to its streaming service and namesake cable network, up from 69.4 million in September. These gains, together with the addition of nearly 900,0000 paying monthly phone subscribers, sent shares up 3per cent to US$26.46 in midday trading.

HBO Max still has a long way to go to catch market-leader Netflix Inc, with its 214 million subscribers, and Walt Disney Co's Disney+, with 118 million. Disney’s growth slowed down in the company’s fiscal fourth-quarter, prompting one banker to downgrade the stock. Disney+ added just 2.1 million in the October quarter.

 

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