Warner Bros. Discovery added 7.2 million subscribers to its Max streaming service in its third quarter, the strongest quarterly gain since the platform’s launch.
Max now has 110.5 million subscribers, with the growth driven by a series of international launches for the platform this year.
The European roll-out of Max began in May, and it will launch on November 19 in several Asia-Pacific markets.
Warner Bros. Discovery’s streaming business revenue increased 8% to $2.63 billion in the quarter, driven by an increase in global subscribers, higher advertising revenue and global average revenue per user. Adjusted EBITDA for the segment was $289 million, a rise of $178 million compared with last year.
The company said the Olympic Games Paris 2024 generated more than 215 million cumulative views across WBD platforms, a 23% increase vs. the Tokyo 2020 games.
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It added that the recently launched The Penguin series ranks as one of the largest premieres on Max, with audiences similar to The Last of Us and House of the Dragon.
Warner Bros. Discovery’s total revenue decreased 4% to $9.62 billion compared with the same period last year. Total adjusted earnings before interest, taxes, depreciation and amortization were down 19% to $2.41 billion.
David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery said, “Warner Bros. Discovery’s Q3 results demonstrate once again that while we continue to confront extraordinary disruption in our environment, the strategy we have undertaken to ready Warner Bros. Discovery for future success is showing important results.”
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