AT&T said that it will launch the ad-supported version of HBO Max in the U.S. in June.
The company also raised its projection for how many subscribers HBO and HBO Max will have to between 120 million and 150 million worldwide by 2025.
That’s up from from the company’s original projection of 75 million to 90 million made in October 2019.
At an investor conference last week, Jason Kilar, CEO of AT&T's WarnerMedia unit, said the new ad-supported version of HBO Max would carry a lower price point.
AT&T also expects to launch HBO Max in 60 markets outside the U.S. in 2021. It will launch in June in 39 territories in Latin American and the Caribbean in June. In the second half of the year, it will launch in 21 territories in Europe.
“We’re being deliberate and strategic with how we allocate capital to invest in our market focus areas of 5G, fiber and HBO Max, while being committed to sustaining the dividend at current levels and utilizing cash after dividends to reduce debt,” said CEO John Stankey.
“Our number one priority in 2021 is growing our customer relationships. It’s about more than just adding to our customer base. It’s about expanding the growth opportunity in our three market focus areas and also increasing our share within each market,” Stankey said. “We’re focused on creating deeper relationships with our current customers to increase their daily engagement with our products and services, enabling us to gather more meaningful insights, drive loyalty, and stay ahead of their rapidly changing preferences. As demand for connectivity and content continues to grow, we are well positioned to deliver.”
AT&T is having a presentation for investors Friday morning.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.