From left: Hugh Grant, Noma Dumezweni and Nicole Kidman in a scene from HBO’s ‘The Undoing.’
Photo: /Associated Press
AT&T Inc. T 3.57% set new long-term targets for its HBO business and predicted modest growth this year after putting all its Warner Bros. films on the new streaming video service.
The company expects HBO Max and HBO to finish 2021 with 67 million to 70 million world-wide subscribers. There were about 61 million subscribers at the end of 2020.
AT&T said it is aiming to reach 120 million to 150 million HBO Max and HBO subscribers by 2025. It had previously set a goal of 75 million to 90 million by then.
In December, the company surprised Hollywood when its Warner Bros. studio said it would release its entire 2021 slate of theatrical films simultaneously in theaters and on the streaming service.
AT&T said it plans to launch HBO Max in 60 international markets this year. The new markets include 39 Latin American and Caribbean locations that will launch in June, as well as 21 European territories where service will begin in the second half of the year.
Ahead of a meeting with investors, the company restated previously issued guidance for 2021, including consolidated revenue growth in the 1% range and adjusted earnings that will be stable with their 2020 level. Last year, AT&T’s adjusted earnings were $3.18 a share.
Write to Matt Grossman at [email protected]
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