Noah Wyle in "The Pitt" (HBO photo)
Warner Bros. Discovery Adds 5.3 Million Q1 Streaming Subs; Ends March With 122 Million Subs
May 8, 2025
Warner Bros. Discovery May 8 announced that it added 5.3 million paid streaming video subscribers across its Max and Discovery+ brands worldwide in the fiscal first quarter (ended March 31). The media giant ended the period with 122.3 million subs, up 22.6 million subs from the previous-year period.
WBD aims to top 150 million streaming subs globally by the end of 2026.
“As Max gains traction globally, we continue to test, learn, refine and optimize our strategy to further hone our consumer experience and brand positioning in the market,” CEO David Zaslav wrote in the shareholder letter. “This process of adaptation has provided a more pointed understanding of what viewers uniquely want out of Max.”
Specifically, Zaslav cited the recent success of the original Max medical drama “The Pitt,” starring Noah Wyle, which he said has generated an average of 12 million viewers per episode globally across its 15-episode inaugural season.
WBD has greenlighted a second season of the show for distribution in January 2026.
In the quarter, WBD reported that its streaming business segment upped revenue 8% to $2.65 billion, from $2.46 billion in the previous-year period. Adjusted pre-tax earnings increased to $339 million, from $86 million in the prior-year period.
“It has become increasingly clear that Max stands apart on quality,” Zaslav wrote, while adding that the company’s legacy HBO brand has “never been stronger” at any point in its 50-plus year history.
“With a deep and growing slate of both breakthrough hits and iconic franchises, HBO [is] consistently reaffirming its place at the forefront of global entertainment,” Zaslav wrote.
Indeed, in the quarter, WBD changed the color of the Max logo to emulate the black-and-white legacy HBO logo.
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