Friends, with no benefits

18 March 2021 By Jennifer Saba Follow @jennifersaba

Competitors including Disney, ViacomCBS, and Discovery have collectively added $250 bln to their market capitalizations in a year, thanks to streaming services. Despite HBO’s success, though, AT&T’s shareholders are worse off. Investors aren’t buying the mobile-content bundle.

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AT&T on March 12 raised its global forecast for HBO Max and HBO subscribers in the range of 120 million to 150 million by 2025. The U.S. telecommunications company previously expected 75 million to 90 million subscribers for the video streaming service and the cable network in the same time frame.

At the end of 2020, HBO Max and HBO had 61 million subscribers worldwide.

HBO Max launched in May and is currently only available in the United States. The international expansion is expected in June.

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