HBO and HBO Max had 76.8 million subscribers at the end of the first quarter of 2022, the former parent company AT&T announced on Thursday.
This is an increase of 3 million subscribers compared to the previous quarter and an increase of 12.8 million compared to the previous year. Average domestic revenue, or ARPU, reached $ 11.24, up from $ 11.15 in the last quarter.
The news comes shortly after Netflix announced its first loss of subscribers in more than a decade. A disappointing profit report on Netflix on Tuesday caused shares to fall 35% on Wednesday, wiping $ 50 billion from its market capitalization. Netflix has about 222 million paying households, but it estimates 100 million households share passwords.
Netflix cited increased competition and reduced pandemic restrictions that kept many users glued to their screens, contributing to the slowdown.
Although AT&T announced the results of HBO, WarnerMedia, the company that owns HBO, is already part of Warner Bros. Discovery. The newly merged company will report HBO’s results for the next quarter.
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