Warner Bros Discovery streaming growth will double this year as the company expands Max and maintains strict cost controls. The entertainment giant expects to surpass 150 million streaming subscribers by 2026, driven by international expansion and a strong content lineup.
Investors reacted positively, sending WBD shares up more than 10% despite a surprise fourth-quarter loss linked to declining television revenues. The company recently announced plans to separate its cable TV networks from its streaming and studio divisions, allowing for potential sales or spin-offs.
CEO David Zaslav explained that this resurrecting would help the company seize broader market opportunities during industry disruptions. Warner Bros Discovery continues expanding Max with a scheduled Australian launch in March and European rollouts in Germany, Italy, and the UK next year.
Max debuted in over 70 countries across Asia and Europe last year, contributing to significant subscriber growth. Despite this growth, WBD’s 117 million total subscribers still lag behind Netflix’s 302 million subscribers and Disney+’s 124.6 million. The traditional TV business continues to struggle, with ad sales plummeting 17% and total revenue declining 5%.
The company’s 2026 subscriber forecast exceeded the industry projection of 135.8 million, highlighting confidence in Warner Bros Discovery streaming growth. Executives emphasized that Max remains unavailable in over 40% of global markets, providing substantial expansion opportunities. WBD reported $10.03 billion in revenue, missing Wall Street’s $10.19 billion estimate. The company lost 20 cents per share, disappointing analysts who had expected a 1-cent profit.
