WarnerMedia marks big growth, while parent company sheds pay TV subscribers
By The MixDex Wire Article may include affiliate links
WarnerMedia was AT&T’s fastest growing division in the second quarter of 2019 — while its pay TV businesses saw dips.
WarnerMedia, which includes HBO, CNN, TNT, TBS, Comedy Central, Warner Bros. and other properties, had $8.35 billion in revenue.
That’s up 5.5% year over year.
Much of that growth was driven by consolidation at Otter Media and boosts in the Warner Bros. and Turner Broadcasting brands.
However, AT&T announced it lost 778,000 net in DirecTV and U-verse TV customers.
A&T blamed these on increasing competition and customers leaving after promotional discounts expired.
It also lost a net of 168,000 DirecTV Now subscribers. DirecTV Now is a paid streaming version of DirecTV.
This was likely due to price increases and less promotional offers.
AT&T is currently in the midst of a retrans battle with CBS and its O&O stations, which has caused the network to drop off both DirecTV and U-verse in 17 markets.