AT&T Q4: HBO Max Activations Double to 17.2 Million, Warner Bros. Revenue Declines 21%

variety.com:

Todd Spangler NY Digital EditorAT&T said “Wonder Woman 1984” helped HBO Max double activations — to 17.2 million — in the fourth quarter of 2020.

But a 21% decline in Warner Bros. revenue for Q4, as well as other COVID-related impacts, pulled the down company’s revenue down and earnings for the quarter.At the end of 2020, WarnerMedia had 41.5 million HBO Max and HBO domestic subscribers, up 20% from 34.6 million a year prior.

AT&T said it hit the number two years faster than its initial forecast.During the quarter, AT&T took a $780 million charge related to from the impairment of production and other content inventory at WarnerMedia, with $520 million resulting from the continued shutdown of theaters during the pandemic and “the hybrid.