AT&T premium TV down 473k; Vrio down 239k; HBO up 3.6M video subs in 2Q 2021

Thursday, July 22nd, 2021 
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DALLAS — AT&T Inc. (NYSE:T) reported second-quarter results that showed continuing customer growth in wireless, fiber and HBO Max. The company also reported strong cash flows.

Corporate & Other: Video

Video results are now included in Corporate & Other.

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   6/30/21
                --------  --------  --------  --------  --------  --------  --------  --------  --------
Premium TV(1)     21,605    20,442    19,496    18,599    17,712    17,121    16,505    15,885    15,412
Over-the-Top(1)    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      -473
Over-the-Top        -168      -195      -219      -138       -68       -37       -27
                --------  --------  --------  --------  --------  --------  --------
Total               -946    -1,358    -1,165    -1,035      -955      -628      -644

Latin America: Vrio

Vrio subscriber net losses of 239,000 were driven primarily by economic pressures and pandemic restrictions in Brazil, and pandemic impacts in other parts of the region and were partly offset by growth in over-the-top subscribers.

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   6/30/21
               --------  --------  --------  --------  --------  --------  --------  --------  --------
Connections(2)   13,473    13,306    13,331    13,217    10,664    10,893    10,942    10,559    10,320
Net Adds(2)        -111      -167        25      -114      -312       229        49      -383      -239

WarnerMedia

  • 2.8 million total domestic HBO Max and HBO subscriber net adds; total domestic subscribers of 47.0 million, up 10.7 million in past year; and 67.5 million globally, up 12.0 million in past year

At the end of the quarter, there were 47.0 million domestic HBO Max and HBO subscribers, up from 44.2 million at the end of the first quarter of 2021. Domestic HBO Max and HBO subscribers increased 10.7 million year over year, driven by HBO Max retail subscriber growth. Domestic subscriber ARPU was $11.90.

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   6/30/21
                                          --------  --------  --------  --------  --------  --------  --------
Total Global HBO Max and HBO Subscribers    54,662    53,841    55,576    56,894    60,613    63,921    67,527
 Domestic HBO Max and HBO Subscribers(3)    34,587    33,096    36,347    38,033    41,528    44,183    47,029
  HBO Max - Wholesale                            -         -    23,594    25,106    30,785    30,935    31,451
  HBO Max - Retail                               -         -     2,975     3,625     6,880     9,693    12,077
  HBO                                       30,331    28,829     5,918     5,614       197        55        32
  HBO Commercial                             4,256     4,267     3,860     3,688     3,666     3,500     3,469
 International HBO Subscribers(4)           20,075    20,745    19,229    18,861    19,085    19,738    20,498

Notes
1. Premium TV connections and net adds include AT&T TV, which initially launched in 3Q19 and expanded nationwide in 1Q20.
2. 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.
3. Domestic HBO Max and HBO Subscribers include the following categories of U.S. accounts: (1) HBO Max – Wholesale: domestic accounts that have access to HBO Max through a wholesale distributor (including wholesale subscribers that may not have signed in) and those with access to HBO Max billed on a bulk basis (e.g. hotels), (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.
4. International HBO Max and HBO Subscribers consists of non-domestic accounts with access to HBO Max (including wholesale subscribers that may not have signed in) and include HBO accounts and exclude free trial, basic and Cinemax subscribers.

Links: AT&T