Warner Bros Discovery delivered a mixed earnings report on Thursday that proved fans of TV shows and movies are still interested in signing up for their cornerstone streaming service Max — but more of them are choosing to take advantage of newer pay TV bundles that offer the ad-supported tier of Max included in their programming packages at no additional cost.
That practice helped WBD grow its global subscriber count to 122.3 million during the three-month period that ended Q1, reflecting an increase of 5.3 million streaming customers who now watch Max or one of WBD’s other streaming products. But it also impacted a key metric that investors and analysts closely watch to gauge the health of WBD’s streaming business.
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