HBO Max
Paid streaming service with HBO series, Warner Bros. films, DC, Harry Potter, CNN and Discovery shows, with ad-supported and ad-free plans.
Came with Warner Bros. Discovery.
WarnerMedia launched HBO Max in the U.S. in May 2020; it joined Skydance when Skydance bought Warner Bros. Discovery on October 6, 2026.
How big is HBO Max?
Mostly subscriptions, sold directly and through partners.
- Subscriptions87%
- Advertising9%
- Content licensing4%
- 2020Launches in the U.S.
- 2021Cheaper plan with ads
- 2023Becomes Max
- 2025Over 100 markets
- 2026Part of Skydance
Skydance's second big streamer.
HBO and HBO Max sit with Paramount+ and Pluto TV in Skydance Direct-to-Consumer, and a bundle with Paramount+ is planned for early 2027.
- HBO Max subscribers on their own after 2025 (the 203M figure combines it with Paramount+)
- HBO Max revenue or profit inside Skydance
- Subscribers by country or plan
- Quarterly subscriber numbers from Q4 2026 (Skydance stops disclosing them)
HBO Max: questions and answers
What is HBO Max?
Paid streaming service with HBO series, Warner Bros. films, DC, Harry Potter, CNN and Discovery shows, with ad-supported and ad-free plans.
Who owns HBO Max?
HBO Max is owned by Skydance. Came with Warner Bros. Discovery.
How big is HBO Max?
Streaming subscribers: 131.6M (FY2025). Streaming revenue: $10.9B (FY2025). Monthly revenue per subscriber: $6.92 (FY2025).
How does HBO Max make money?
Mostly subscriptions, sold directly and through partners. Main sources: Subscriptions, Advertising and Content licensing.
Who are HBO Max's competitors?
HBO Max competes with Netflix, Disney+, Prime Video and Paramount+.
Skydance's other brands
Every number on this page comes from Skydance's own reports.
- Warner Bros. Discovery Form 10-K for 2025: segments (Streaming, Studios, Global Linear Networks), revenue m… ↗
- Warner Bros. Discovery Form 10-Q for Q2 2026, its last periodic report: segment revenues and adjusted EBITDA ↗
- Warner Bros. Discovery Form 10-K for 2022: Discovery and WarnerMedia merger closed April 8, 2022; HBO Max l… ↗
- Warner Bros. Discovery Form 10-K for 2023: Max launched in the U.S., international rollout from 2024 ↗
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