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Warner Bros Discovery rolls out first HBO Max price hike in U.S

Friday, January 13, 2023
Warner Bros Discovery rolls out first HBO Max price hike in U.S © Reuters. FILE PHOTO: The Warner Bros logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022. REUTERS/Eric Gaillard
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(Reuters) -Warner Bros Discovery (NASDAQ:WBD) Inc is raising HBO Max's ad-free subscription fee in the United States for the first time since the streaming service was launched in 2020, the TV network said on Thursday, sending its shares down 3%.

Prices for the platform, currently streaming shows such as "The White Lotus" and "House of the Dragon", will rise by $1 to $15.99 plus taxes a month for U.S. subscribers.

HBO Max, which also has an ad-supported tier, faces pressure from slowing user growth and tight competition from larger rivals Netflix Inc (NASDAQ:NFLX) and Walt Disney (NYSE:DIS) Co's Disney+. Netflix and Disney had also raised prices for some of their streaming services last year.

Warner Bros Discovery, formed last year by the merger of AT&T Inc (NYSE:T)'s WarnerMedia unit and Discovery Inc, is pushing for internal changes including plans to combine HBO Max and Discovery+.

The media company last month said it expected costs related to content write-offs to rise by $1 billion to as much as $3.5 billion.

It also made both HBO Max and Discovery+ available on Amazon.com Inc (NASDAQ:AMZN)'s Prime Video platform in select markets.

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    EUR/USD 1.0467 ↑ Buy  
    GBP/USD 1.2075 ↑ Sell  
    USD/JPY 149.12 ↑ Buy  
    AUD/USD 0.6303 ↑ Buy  
    USD/CAD 1.3710 Neutral  
    EUR/JPY 156.08 Neutral  
    EUR/CHF 0.9640 ↑ Buy  
    Gold 1,840.40 ↑ Buy  
    Silver 21.392 ↑ Buy  
    Copper 3.6158 ↑ Buy  
    Crude Oil WTI 89.38 Sell  
    Brent Oil 91.10 ↑ Buy  
    Natural Gas 2.943 Neutral  
    US Coffee C 148.80 ↑ Buy  
    Euro Stoxx 50 4,095.45 Neutral  
    S&P 500 4,229.45 ↑ Buy  
    DAX 15,085.21 ↑ Sell  
    FTSE 100 7,470.16 ↑ Sell  
    Hang Seng 17,276.00 ↑ Buy  
    Small Cap 2000 1,724.80 Neutral  
    IBEX 35 9,165.50 ↑ Sell  
    BASF 41.760 ↑ Buy  
    Bayer 43.88 Buy  
    Allianz 220.95 ↑ Buy  
    Adidas 160.72 ↑ Buy  
    Lufthansa 7.247 Buy  
    Siemens AG 133.10 Neutral  
    Deutsche Bank AG 9.931 ↑ Buy  
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