AT&T premium TV down 620k; Vrio down 383k; HBO up 3.3M video subs in 1Q 2021
Thursday, April 22nd, 2021DALLAS — AT&T Inc. (NYSE:T) reported first-quarter results that showed continuing customer growth in wireless, fiber and HBO Max and strong cash flows.
Corporate & Other: Video
Video results are now included in Corporate & Other as the business is classified as held-for-sale.
Video subscribers (in thousands):
Three Months Ended ------------------------------------------------------------------------------ 6/30/19 9/30/19 12/31/19 3/31/20 6/30/20 9/30/20 12/31/20 3/31/21 -------- -------- -------- -------- -------- -------- -------- -------- Premium TV(1) 21,605 20,442 19,496 18,599 17,712 17,121 16,505 15,885 Over-the-Top(2) 1,340 1,145 926 788 720 683 656 -------- -------- -------- -------- -------- -------- -------- -------- Total 22,945 21,587 20,422 19,387 18,432 17,804 17,161 Net Adds Premium TV -778 -1,163 -946 -897 -887 -591 -617 -620 Over-the-Top -168 -195 -219 -138 -68 -37 -27 -------- -------- -------- -------- -------- -------- -------- -------- Total -946 -1,358 -1,165 -1,035 -955 -628 -644
Latin America: Vrio
Revenues were $743 million, down 16.2% year over year due to foreign exchange impacts. Operating loss was ($35) million compared to ($43) million in the year-ago quarter, with continued positive EBITDA for the quarter. 383,000 net losses were driven primarily by economic pressures and restructuring of sales channels in Brazil and COVID-19 restrictions in parts of the region.
Video (in thousands):
Three Months Ended ------------------------------------------------------------------------------ 6/30/19 9/30/19 12/31/19 3/31/20 6/30/18 9/30/18 12/31/20 3/31/21 -------- -------- -------- -------- -------- -------- -------- -------- Connections(3) 13,473 13,306 13,331 13,217 10,664 10,893 10,942 10,559 Net Adds(3) -111 -167 25 -114 -312 229 49 -383
WarnerMedia
- 2.7 million total domestic HBO Max and HBO subscriber net adds; total domestic subscribers of 44.2 million and nearly 64 million globally
Direct-to-Consumer (DTC) Operating Volumes and Statistics
Volumes in thousands Unaudited
12/31/19 3/31/20 6/30/20 9/30/20 12/31/20 3/31/21 -------- -------- -------- -------- -------- -------- Total Global HBO Max and HBO Subscribers 54,662 53,841 55,576 56,894 60,613 63,921 Domestic HBO Max and HBO Subscribers(4) 34,587 33,096 36,347 38,033 41,528 44,183 HBO Max - Wholesale - - 23,594 25,106 30,785 30,935 HBO Max - Retail - - 2,975 3,625 6,880 9,693 HBO 30,331 28,829 5,918 5,614 197 55 HBO Commercial 4,256 4,267 3,860 3,688 3,666 3,500 International HBO Subscribers(5) 20,075 20,745 19,229 18,861 19,085 19,738
1. Premium TV connections and net adds include AT&T TV, which initially launched in 3Q19 and expanded nationwide in 1Q20.
2. Over-the-top connections include AT&T TV NOW and exclude WatchTV, which launched near end of June 2018. Beginning in January 2021, AT&T TV NOW has been combined with AT&T TV. AT&T TV NOW connections as of 4Q20 include 12K free or substantially free trial-period subscribers. AT&T has successfully retained many subscribers after the expiration of their trial period.
3. Vrio Video connections and net adds include satellite and over-the-top. 2Q20 Video connections include a reduction of 2.2M subscriber disconnections resulting from the closure of DIRECTV operations in Venezuela. 2Q20 Mexico Reseller subscriber count includes 101K reduction for subscriber disconnections resulting from conforming to AT&T’s policy on reporting of fixed wireless resellers.
4. Domestic HBO Max and HBO Subscribers include the following categories: (1) HBO Max – Wholesale: domestic accounts that have access to HBO Max through a wholesale distributor (including AT&T’s video, broadband and mobility businesses) including wholesale subscribers that may not have signed in, (2) HBO Max – Retail: domestic accounts that have access to HBO Max and are billed directly by WarnerMedia or by a third party via in-app purchase, (3) HBO: domestic accounts that do not have access to HBO Max, and (4) HBO Commercial: domestic accounts that do not have access to HBO Max and are billed on a bulk basis (e.g., hotels, etc.). Domestic HBO Max and HBO Subscribers exclude free trials and Cinemax subscribers.
5. International HBO Subscribers include HBO premium pay TV and SVOD service subscribers and exclude free trials, and basic and Cinemax subscribers.
Links: AT&T
Latest News
- 30% of EU SVOD viewing time goes to content from the EU plus UK
- Circle City renews with Nielsen for Local TV measurement
- Skyworth and China Mobile launch 8K set-top box
- Orange Spain, MASMOVIL joint venture begins operations
- Brightcove launches Cloud Playout 2.0
- MediaKind to unveil video, streaming and AI technologies at NAB