HBO and HBO Max are closing in on 45 million subscribers, buoyed by the recent success of the tentpole movie Godzilla vs. Kong.
WarnerMedia revealed the latest figures for HBO and HBO Max during its first-quarter earnings report, as covered by The Hollywood Reporter. HBO and HBO Max currently have a combined 44.2 million subscribers, which is up from 41.5 million at the end of 2020. AT&T now expects to reach 67 to 70 million HBO and HBO Max subscribers worldwide by the end of 2021, exceeding its previous projection of 61 million.
In terms of the streaming competition, HBO and HBO Max are still well behind Amazon Prime and Disney+, which recently passed 200 million and 100 million subscribers, respectively. All the same, AT&T expects to have accumulated 120 million to 150 million subscribers for HBO and HBO Max by the end of 2025, doubling its original five-year subscriber target.
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HBO and HBO Max’s growing numbers have been attributed to the premiere of buzzed-about series like The Undoing and The Flight Attendant, along with the hybrid release of Wonder Woman 1984, bowing in theaters and streaming on HBO Max in the U.S. on Dec. 25, 2020. Prior to the movie’s release, WarnerMedia announced its controversial plan to debut Warner Bros.’ entire 2021 film slate using the same approach, with titles opening in theaters the same day they begin streaming on HBO Max for a month.
Despite being available to stream, Godzilla vs. Kong has exceeded expectations at the box office. The film is now projected to bring in a profit of $96.4 million, even with key markets like Brazil and much of Europe being closed due to the ongoing coronavirus (COVID-19) pandemic. For that reason, it’s speculated WarnerMedia will tweak it plans and give some of its movies a theater-exclusive run later in the year, assuming the general U.S. population has achieved herd immunity against the virus by then.
Of all the 2021 Warner Bros. movies that could debut exclusively in theaters, Dune is believed to be the most likely candidate. Director Denis Villeneuve and Legendary Pictures, the film’s primary financier, are pushing for a traditional theatrical rollout ahead of its scheduled release in October. At the same time, some industry analysts cite Godzilla vs. Kong‘s performance as evidences that Dune would actually benefit from a hybrid approach.
Source: The Hollywood Reporter
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