Still, most of HBO Max customers aren’t completely new. The number of total HBO and HBO Max subscribers in the United States grew by fewer than 2 million in the past quarter. That means the bulk of its new customers are HBO customers changing to HBO Max — which was already available to them. Between HBO and HBO Max, the two services combined have a total 57 million subscribers globally.
With its reach limited to the United States, the five-month old platform trails its competitors in terms of subscription numbers.
In its third-quarter earnings released Thursday, AT&T’s revenue of $42.3 billion in revenue came in slightly above analysts’ expectations. The company added 645,000 new phone subscribers, but had a net loss of 590,000 subscribers to its premium TV services, like DirecTV.
“We delivered a solid quarter with good subscriber momentum in our market focus areas of connectivity and software-based entertainment,” said CEO John Stankey.
Shares climbed more than 1.5% in premarket trading.