Warner Bros. Discovery’s Max Gains Over 7 Million New Subscribers in Q3

In the third quarter, over 7 million new subscribers signed up for Warner Bros. Discovery’s streaming service Max, the largest growth in the platform’s history. As of Sept. 30, Max had 110.5 million subscribers.

Introducing Max to markets outside the U.S., specifically Latin America and Europe, significantly helped encourage subscriber growth. Over the summer, Warner Bros. Discovery partnered with Disney to launch a new bundle programming package that included Hulu and Disney+ streaming services as well as Max, which also likely contributed to new customers signing up.

Yet, as subscriber growth has risen, so have monthly prices. In June, Warner Bros. Discovery announced its ad-free streaming plans on Max would be increasing by $1 to $16.99 per month. The ultimate ad-free subscription also went up $1 to $20.99.

While Netflix only added 5.1 million subscribers in the third quarter, it still remains king at 282.7 million customers overall. However, Netflix’s total subscribers will remain a mystery going forward as the streaming giant has decided to stop reporting subscriber numbers once the new year begins.

Warner Bros. Discovery Third-Quarter Earnings

Warner Bros. Discovery’s reported revenue reached $9.62 billion in Q3 2024, a 4% decline compared to the same period in 2023. Adjusted earnings fell 19% to $2.41 billion.

Also down was Warner Bros. Discovery’s studios segment, with revenue dropping 17% to $2.68 billion. The decline was reportedly related to box office numbers related to movie releases of “Beetlejuice Beetlejuice” and “Twisters,” which did not fair as well as last year’s “Barbie.”

However, revenue for the company’s TV networks grew 3%, hitting $5.01 billion. With the added streaming service subscribers and higher advertising income for the quarter, Warner Bros. Discovery’s direct-to-consumer streaming services brought in $2.63 billion, an 8% surge compared to last year.

“Warner Bros. Discovery’s third-quarter 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,” said CEO David Zaslav, per The Hollywood Reporter.