HBO Max Reaches 38 Million Subscribers But Struggles With Direct Sign-Ups
AT&T reports strong HBO Max activation numbers, but most viewers access the service through existing cable bundles rather than direct retail subscriptions. The platform still faces significant hurdles without a deal for Roku devices.
AT&T reports that HBO and HBO Max reach 38 million subscribers in the U.S. and 57 million worldwide, beating a previous year-end target of 36 million. New HBO Max activations more than double from the second quarter to hit 8.6 million in Q3, bringing the total number of eligible customers to 28.7 million.
These headline numbers obscure the reality of who actually uses the service, as only 3.6 million customers pay the $15 monthly fee as direct retail subscribers. The vast majority of eligible users access the platform through wholesale cable packages, and many of these individuals never sign in or even know the streaming service exists.
The lack of availability on Roku devices creates a major barrier for the platform, though Roku recently adds AirPlay 2 support to newer devices as a workaround for Apple users. Despite these challenges, AT&T continues to invest heavily in the platform, spending $600 million in Q3 alone and tracking toward a $2 billion total investment by the end of the year.