Netflix's Loss Is HBO Max's Gain As Streaming Service Sees Q1 Subscriptions Surge

HBO and HBO Max’s subscriber count has surged in the first quarter of 2022 as the streaming behemoth now has nearly 77 million subscribers, according to data released Thursday.

These numbers are a massive increase for HBO, marking a growth of three million subscribers from the previous quarter, and a nearly 13 million year-over-year increase.

Warner Media owns the streaming service, although former parent company AT&T reported the numbers. Warner Media is now a part of the recently merged Warner Bros. Discovery, which will report next quarter's numbers. According to Variety, the merger was finalized on April 8.

Contrarily, Netflix’s growth has hit a somewhat of a standstill. Earlier this week, the streaming service reported a loss of subscribers for the first time in a decade. Its poor earnings propelled its stock plummeting 35% on Wednesday, according to CNBC.

Netflix pinpointed the rise of competition and the end of COVID-19 safety measures as contributors to its decline. Furthermore, the company believes that over 30 million customers in the U.S. and Canada use a shared password as a means of utilizing its services.