HBO Max gained 2.4 million new subscribers in the US during Q1. The streamer had 12.1 million subs by the end of June, compared with 9.7 million at the end of March. This does not include people who have access to the WarnerMedia-owned service for free through their cable subscription.
This contrasts with Netflix figures released this week showing it lost 430,000 subscribers in the US and Canada during the same period; Although Netflix is still the market leader by a wide margin.
Netflix this week dismissed HBO as a threat. Reed Hastings, co-chief executive, told investors that the Discovery-Warner combination was “not as significant” as Disney’s acquisition of Fox, while adding that he had not seen an impact from HBO on Netflix subscriber growth.