There was great news today for entertainment giant Warner Bros Discovery (WBD), which is great, because the news has not been especially good for some time now. Data emerged around Warner’s subscriber count for its Max streaming service, and the numbers were up, marvelously. Sufficiently so, in fact, that Warner shares blasted up nearly 10% in Thursday afternoon’s trading.
Warner’s streaming numbers were a thing of beauty. For the fourth quarter, Warner posted $2.65 billion in streaming revenue, which was up 5% against the fourth quarter of 2023, when it brought in $2.53 billion. Further, Warner’s Max added fully 6.4 million new subscribers as people took a look at what Warner had to offer and found it palatable.
Moreover, Warner does not expect these numbers to slow down very much, if at all. Warner, reports note, is convinced it is on a track to hit 150 million total subscribers by the end of 2026. Max is doing so…
