“The way I look at it is in the U.S., if you wanted HBO, you already have HBO. So I don’t see they gain a lot of new customers,' Liberty Media Chairman John Malone said earlier today. He believes the HBO Max streaming service will lose to its competitors.
"I don't see the growth for HBO in going this route," Malone spoke to CNBC'sin an exclusive interview on Thursday. "I really have trouble seeing HBO being able to get the scale to be able to be at the top of the chart in terms of direct consumer subscribers."
Malone believes HBO would have a hard time attracting new subscribers and the company also doesn't have the capacity yet to become an international player. "The way I look at it is in the U.S., if you wanted HBO, you already have HBO. So I don't see they gain a lot of new customers," Malone said. "They certainly don't have the budget to defend and protect their content supply long-term, and they don't own the rights to international distribution and it will take them years to develop and hold onto enough content to be a real player internationally," he added.
AT&T aims to reach 75 to 90 million subscribers by 2025, WarnerMedia CEO John Stankey said previously. The company said it will spend $4 billion over the next three years building HBO Max.
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