Warner Bros. Discovery (WBD) has reported a stronger-than-expected first quarter for its flagship streaming service, HBO Max, leading the company to raise its year-end subscriber forecasts.
The platform successfully bypassed internal projections by surpassing the 140 million subscriber milestone globally, with management now eyeing a target of 150 million by the close of 2026. This surge was primarily driven by successful launches in key European territories, including the UK, Germany, Italy, and Ireland, markets that were previously restricted due to legacy distribution deals with Sky.
Beyond subscriber growth, WBD highlighted a significant financial turnaround; Streaming and Gaming chief JB Perrette noted that under David Zaslav’s leadership, the company added over 50 million subscribers in four years, successfully swinging from a $2 billion loss to a profit exceeding $1 billion. Looking ahead, the anticipated acquisition of Paramount by David Ellison’s company, expected to close by September, remains a focal point as markets monitor how Paramount+ content will be integrated into the HBO Max ecosystem.
Furthermore, the platform is betting on long-term momentum with its upcoming 10-year Harry Potter series slated for 2027, with executives emphasizing that despite their recent gains, HBO Max is still in the “early innings” of its global growth trajectory.
