AT&T said it expects its HBO Max streaming platform to reach 120 million to 150 million subscribers by 2025, a sharp increase in its hopes for a service that’s key to the company’s future.
In October 2019, AT&T set a goal of hitting 50 million U.S. subscribers by 2025, a relatively low bar considering the premium cable channel had about 33 million subscribers a few months before the streaming service launched in May that year. That goal looks easily achievable now.
The company now expects 67 million to 70 million worldwide HBO Max subscribers by the end of 2021, according to a statement Friday. AT&T had previously forecast 75 million to 90 million subscribers globally by 2025.
AT&T shares were up 1.5% to $29.97 at 9:38 a.m. in New York. The stock is up 4.3% this year and slid 26% last year.
AT&T sells both HBO, a traditional cable channel, and HBO Max, a new streaming service. The two cost the same, but HBO Max has far more programming. HBO Max and HBO had over 41 million subscribers combined at the end of the fourth quarter. Of that number, 17.2 million people had activated their HBO Max accounts.