Warner Bros. Discovery mentioned it expects to proceed rising its base of streaming subscribers this yr, even when it will likely be a bit extra cagier concerning the precise numbers going ahead.
Alongside fourth-quarter earnings, the corporate mentioned it expects its streaming enterprise, primarily pushed by HBO Max, to move 140 million within the first quarter and 150 million by the tip of the yr. It ended 2025 with practically 132 million subscribers.
“2025 was one other distinctive yr for HBO Max with rising international scale and a robust content material slate,” the corporate mentioned in its letter to shareholder on Thursday.
Warner Bros. Discovery, nevertheless, mentioned this quarter marked the final during which it’ll present subscriber and common income per person figures. As a substitute, the corporate mentioned it will concentrate on subscriber-related income progress and adjusted earnings earlier than curiosity, taxes, depreciation and amortization as its key metrics.
WBD joins Netflix and Disney in ceasing the apply of revealing subscriber and ARPU figures, which had been thought-about key metrics for any streaming enterprise. Gone are the times when corporations would chase subscribers to construct up their base of customers, and as a substitute are focusing extra on profitability.
The corporate’s remaining steerage of 150 million clients by the tip of the yr suggests it’ll add not less than 18 million subscribers in 2026, a barely larger clip than the 15 million it added in 2025, suggesting modest progress.
A lot of that progress continues to come back from its growth abroad, with the corporate increasing its unique programming exterior of the U.S., comparable to “Heaven” in Poland. On March 26, it plans to launch the service within the U.Okay. and Eire each standalone and thru partnerships like Sky.
Total, the service additionally noticed huge hits like “Heated Rivalry,” “It: Welcome to Derry” and “I Love LA” in the course of the fourth quarter.
