Warner Bros Discovery expects more than 6 million new Max subscribers in third quarter
3:59 pm Thursday, September 12th, 2024
(Reuters) – Warner Bros Discovery expects to add more than 6 million subscribers to its Max streaming platform in the third quarter, as the service continues to build momentum in international markets.
“We’re starting to scale and in the second half of the year, you’ll see real revenue growth driven by real subscriber growth,” Warner Bros Discovery Chief Executive David Zaslav said at the Goldman Sachs’s Technology Conference on Thursday.
Warner Bros Discovery relaunched its streaming service last May, with expanded programming offerings, to strengthen its position amid competition from giants like Netflix and Walt Disney.
This May, the company extended Max to Europe, capitalizing on the anticipation of the Olympic Games in Paris, which has helped in growing its international popularity.
“We’re available in a lot of Europe and Latin America, and within two years, we’ll be available in most of the world, we’re going to be on those shelves,” Zaslav said.
Warner Bros’ streaming service Max includes premium content from HBO, along with programs from HGTV, the Food Network, the Discovery Channel and other cable networks.
Zaslav noted that bundling Max with Disney+ and Hulu has contributed to an increase in subscribers this quarter. He also mentioned that the company will focus on improving its studio operations.
Earlier today, the media giant said it has renewed a multi-year deal with Charter Communications to integrate Max and Discovery+ into the cable company’s streaming hub.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Mohammed Safi Shamsi)
