Subscriber numbers from Warner Bros Discovery Inc (NASDAQ:WBD) for the past quarter missed expectations, as it battles rivals including Netflix, Disney+ and Amazon Prime.
Despite being boosted by the new BT Sport joint venture with BT Group PLC (LSE:BT.A) in the UK, subs came in at 96.1mln for the fourth quarter, up 1.1mln over the three-month period but a tad below the 96.3mln forecast by analysts.
Any boost from BT Sport only came in December, when the company also re-launched HBO Max on Amazon channels.
Rival streaming service Disney+ also had a tough quarter, it announced earlier in the month, with a first decrease in subscribers since its launch in 2019, down 2.4mln subscribers to 161.8mln.
Netflix was the star of the quarter, adding 7.7mln subscriptions, exceeding forecasts and bringing its total number of global paid memberships to 231mln.
WBD’s range of channels includes HBO, Discovery Channel, CNN, Eurosport, Cartoon Network, Adult Swim and Turner Classic Movies.
Popular programmes included 'The Last of Us' and blockbuster films such as 'Black Adam', with record sales of its newest video game, 'Hogwarts Legacy'.