Warner Bros Discovery expects streaming unit to reach 150 million subscribers by 2026

Warner Bros Discovery said on Thursday its streaming service will have at least 150 million users by 2026, after Max's global expansion powered stronger-than-expected subscriber gains in the fourth quarter.

The rebranding of HBO Max to Max and its international launches have been central to the company's efforts to boost streaming service subscriptions in a hyper-competitive market.

The company launched Max in markets such as Southeast Asia, Taiwan and Hong Kong in November and plans to roll out the service in Australia in March.


Analysts on average were expecting 135.8 million subscribers for the company's streaming service by the end of 2026.

During the fourth quarter, Warner's streaming business, which includes the Max and Discovery+ services, added 6.4 million direct to consumer subscribers, flying past estimates of 4.89 million, according to data compiled by Visible Alpha.

The company reported revenue of $10.03 billion for the three months ended December 31, compared with analysts' average estimate of $10.19 billion, according to data compiled by LSEG.