💵 WBD Revenue Falls, but HBO Max Grows Rapidly

The global number of streaming service subscribers (including HBO Max) grew by 2.3 million, reaching 128 million (+16% year-on-year). WBD confirmed its target of 150 million subscribers by the end of 2026.

The service is now available in over 100 markets. A successful launch in Australia strengthens WBD’s confidence ahead of the upcoming expansion into the Italian, German, UK, and Irish markets.

The 6% revenue drop was due to a fall in advertising revenue (by 17%) and the continued outflow of traditional pay-TV subscribers. However, adjusted EBITDA grew by 2%, mainly driven by growth in the streaming and studios segments.

The company continues to focus on strengthening operational capabilities and reduced its debt by $1.2 billion during the quarter.