HBO adds record subs, ups profit

HBO added the most US subscribers in its history in 2017, boosting revenue and profit at parent business, Time Warner. HBO’s revenue rose 7 per cent to $6.3 billion, helped by an 11 per cent lift in subscription revenue, the strongest in more than 20 years.

Time Warner’s total revenue in 2017 was up 7 per cent to $31.3 bilion on growth at HBO as well as a record year at the box office for its Warner Bros film studio. Net income surged 33 per cent to $5.24 billion boosted by recently passed US tax cuts.

Time Warner is in the midst of being acquired by AT&T, but the US department of justice has sued to block the $85 billion bid over competition concerns.

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