HBO adds record subs, ups profit
February 1, 2018
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.