It also helped Warner Bros., which had a few movies ready to go and sitting idle but was not necessarily able to produce more at its usual volume. Many folks are still leery of theaters, and HBO Max provided a good alternative for those who still wanted to watch big blockbusters. It also is the kind of play that could maybe only have worked during a pandemic. Putting millions of dollars worth of marquee films on a streaming service in the hopes that they would attract, and retain, a few million subscribers is a big bet. Make no mistake, this was all a bit of a gamble. “While this might slow growth in the short term this quarter,” Henschel notes, “it is strategic for growing revenues in the long term.” She also points to HBO Max’s ad-supported tier, which costs $10 as opposed to the standard $15, as a way to broaden its appeal in the crowded market. One of the reasons for the service’s lackluster subscriber numbers in the third quarter of this year was because HBO Max parted ways with Amazon Prime Video to prioritize direct subscriptions to the service rather than those that come through Amazon. (Hello, Peacock! Welcome, Paramount+!) And it's serious about holding on to the position it's achieved. Subscriber growth is stagnating across streaming services, but HBO Max has been able to slowly, strategically gain a toehold in a business that, when the service first launched, didn’t look like it had much room for new players-and has only gotten more since then. In other words, HBO Max may have found a way to hack the streaming wars.
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