HBO Max/HBO Gain 3 Million Subscribers in Q1, WarnerMedia Profit Pinched by Streaming Investments in Final Quarter With AT&T

variety.com:

Todd Spangler NY Digital EditorAT&T, in its Wall Street swan song as an entertainment entity, reported solid subscriber pickup for HBO Max and HBO for the first quarter of 2022.

The now-divested WarnerMedia unit was again a drag on profitability because of continued investments in HBO Max and the launch of CNN+ — reflecting a key reason AT&T spun it off.WarnerMedia is now part of Warner Bros.

Discovery, after AT&T divested the media division and officially merged it with Discovery earlier this month. But for the first three months of the year, WarnerMedia was still part of AT&T.Worldwide, HBO Max and HBO added 3.0 million subscribers sequentially (and 12.8 million subscribers year over year) to end Q1 with 76.8 million total.

That included 48.6 million domestic HBO Max and HBO subscribers, up 1.8 million from the prior quarter. The 3 million quarterly net gain for HBO Max/HBO matched that in the year-earlier period.