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Warner Bros. Discovery’s (NASDAQ:WBD) Max temporarily cut its ad-supported offering price to $2.99 per month from $9.99 as the media giant looks to boost subscribers for its streaming service.
The discount for the home of The Sopranos, Succession, Sex & the City and Game of Thrones will be available for the first six months for new and returning subscribers starting today for a week.
On November 8, Warner Bros. Discovery (WBD) reported that global direct-to-consumer subscribers decreased by 700,000 to 95.1M at the end of the third quarter from the previous quarter and down 1M from the end of 2022. The company doesn’t break out subscriber numbers for the ad tier.
Max has offered subscriptions with ads since 2021. Netflix (NFLX) marked the one-year anniversary of its advertising-supported service earlier this month noting that the product reaches 15M global monthly active users. For the most recent quarter, Netflix (NFLX) added 8.76M global paid subscribers, topping consensus of 6.2M for a total of 247.15M.
The Walt Disney Company (DIS) said this month that for its fourth fiscal quarter, it added nearly 7M core subscribers, and that domestic Disney+ average monthly revenue per paid subscriber increased from $7.31 to $7.50 due to higher advertising revenue.
Warner Bros. Discovery (WBD) shares fell 1.1% on Monday morning.
