More Than a Quarter of HBO Max Subscribers in the U.S. Already Have Paramount+
Let's do the math.
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Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Paramount Skydance chief David Ellison on Monday boasted that once his company also owns Warner Bros. Discovery , the media giant will have a bit more than 200 million direct-to-consumer subscribers. If anything, he was underselling. At the end of 2025, Paramount+ had 78.9 million subs and Warner Bros. Discovery had 131.6 million , including linear HBO and Discovery+. So that’s 210.5 million subs, not counting BET+, which would be an almost immaterial addition. And by the time the deal closes, which Ellison estimates to be the third quarter of this year, the tally should only grow higher. Related Stories TV HBO Max and Paramount+ Will Become One Streamer Business David Ellison Unveils Sweeping Vision for Warner Bros: "This Is About Reinventing the Business" All-in it’s a nice number, though still no Netflix, which reported it surpassed 325 million subscribers as of Dec. 31. Of course, Netflix is currently available in many more regions (190) than HBO Max (about 90 markets) and Paramount+ (about half that). It is almost certainly significantly smaller than Amazon Prime Video’s overall reach, but Amazon doesn’t publicly share its subscription numbers. One of the reason’s Ellison may be slightly underselling is because he’s also somewhat overselling. Ellison stated on the same conference call that he will combine Paramount+ and HBO Max into one service . To get a true sense of how many streaming subscribers the combined service would have, one has to remove duplication. Streaming-researcher Antenna estimates that as of January 2026, Paramount+ had 35.8 million paying subscribers in the U.S., where HBO Max had 27.1 million paying subs. Importantly, that does not include linear HBO subs, which Ellison included with the DTC catch-all phrasing. An...
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