
HBO Max is owned by Warner Bros Discovery (NASDAQ: WBD), a publicly traded American media conglomerate headquartered in New York City. The streaming service launched as HBO Max in May 2020, was rebranded to Max in 2023, and reverted to HBO Max on July 9, 2025. WBD reported 122.3 million streaming subscribers as of Q1 2025 and targets over 150 million by end of 2026.
Parent Company
Founded
2020
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| HBO Max | Warner Bros. Discovery | Subsidiary |
HBO Max launched on May 27, 2020, under WarnerMedia (then owned by AT&T). The service was a successor to HBO Go and HBO Now, AT&T's earlier streaming efforts. HBO Max combined HBO's premium programming with WarnerMedia's broader library, including Warner Bros films, DC Entertainment properties, and licensed content like Friends and The Big Bang Theory.
The launch coincided with the COVID-19 pandemic, which accelerated streaming adoption worldwide. HBO Max capitalized on locked-down audiences seeking entertainment. In 2021, WarnerMedia made the controversial decision to release all Warner Bros films simultaneously in theaters and on HBO Max, a strategy that drew criticism from filmmakers and theater owners but boosted subscriber acquisition.
The April 2022 merger of WarnerMedia and Discovery, Inc. created Warner Bros Discovery. The new management, led by CEO David Zaslav, reversed several WarnerMedia strategies. The same-day theatrical release model was abandoned. Several films and series were removed from the platform to reduce content costs and tax liabilities, a decision that generated significant media attention and subscriber frustration.
In May 2023, WBD rebranded HBO Max as simply "Max." The name change dropped "HBO" from the streaming brand to signal that the service was not just HBO content but also included Discovery's reality and lifestyle programming from networks like TLC, Food Network, and HGTV. Casey Bloys acknowledged at the time that the previous strategy aimed to "be something for everybody" and compete directly with Netflix, an approach he admitted was "incredibly expensive."
The Max rebrand drew mixed reactions. Some industry analysts questioned removing the most recognized brand name in premium television. The social media account for the streaming service posted "These rebrands are trying to murder me" in its bio on X (formerly Twitter), capturing the public sentiment.
By 2025, WBD's streaming business had gained significant momentum. Q1 2025 results showed 122.3 million subscribers, beating Wall Street expectations, with 5.3 million subscribers added in the quarter. Streaming revenue grew 8% to $2.7 billion, and adjusted EBITDA reached $339 million. The company had turned around streaming profitability by approximately $3 billion over two years.
On May 14, 2025, at WBD's upfront presentation, Zaslav announced that Max would revert to HBO Max. The decision was based on consumer research showing that subscribers associated the HBO name with unique, premium content. Bloys said the research showed subscribers wanted "HBO programming, scripted dramas, comedies, documentaries, the pay-one movies, library movies, and basically the Warner Bros. TV library." The rebrand took effect on July 9, 2025, ahead of the Emmy nominations announcement on July 15. Max.com redirected to hbomax.com, and app store listings were updated.
What does Warner Bros. Discovery own?
Warner Bros. Discovery owns Max (streaming service), HBO, Warner Bros. film and TV studios, DC Comics, CNN, Discovery Channel, HGTV, Food Network, TLC, Animal Planet, TNT, TBS, Adult Swim, Cartoon Network, Eurosport, and numerous other media brands. In June 2025, the company announced a plan to split into two companies: Warner Bros. (streaming/studios) and Discovery Global (linear networks).
Is Warner Bros. Discovery splitting up?
Yes. In June 2025, Warner Bros. Discovery announced a plan to separate into two independent publicly traded companies: Warner Bros. (streaming, studios, HBO/Max, DC Comics) and Discovery Global (linear TV networks including CNN, HGTV, Food Network, and TNT Sports). The split is expected to complete in mid-2026 and is structured to be tax-free.
What is Warner Bros. Discovery's annual revenue?
In FY2024, Warner Bros. Discovery reported revenue of approximately $39.3 billion, a 4.8% decline from FY2023. The company reported a net loss of approximately $11.5 billion, primarily due to a $9.1 billion non-cash goodwill impairment charge on its linear TV network assets.
Who is the CEO of Warner Bros. Discovery?
David Zaslav serves as President and CEO of Warner Bros. Discovery. He previously served as CEO of Discovery, Inc. before the 2022 merger and has led the combined company since its formation.
When was Warner Bros. Discovery formed?
Warner Bros. Discovery was formed on April 8, 2022, through the merger of WarnerMedia (which AT&T had acquired as Time Warner in 2018 and subsequently spun off) and Discovery, Inc.
What is Max?
Max is Warner Bros. Discovery's flagship streaming service, launched in May 2023 as a rebranded and combined version of HBO Max and Discovery+. Max offers HBO's premium scripted drama alongside Discovery's factual and lifestyle content. The service reached approximately 116 million global subscribers in 2024 and achieved full-year profitability in 2024.
HBO Max's environmental footprint is primarily tied to data center energy consumption and content production. Warner Bros Discovery has stated commitments to reducing greenhouse gas emissions and increasing renewable energy use across its operations, including streaming infrastructure.
WBD has implemented green production practices for original content, including waste reduction on sets and renewable energy use during filming. However, specific carbon footprint data for the HBO Max streaming platform has not been publicly disclosed. The energy consumption of streaming services is inherently difficult to attribute to individual platforms, as it depends on device usage, network infrastructure, and data center efficiency.
No independent third-party certifications for streaming-specific sustainability claims have been publicly documented for HBO Max. WBD publishes corporate sustainability reports, but HBO Max-specific environmental metrics are consolidated within the parent company's disclosures.
HBO Max programming, competing under the HBO/Max label, has received numerous Emmy and Golden Globe nominations. HBO's legacy of critical acclaim, including series like Game of Thrones, The Sopranos, and True Detective, carries over to the streaming platform. Max Originals have also received award recognition.
The return to the HBO Max name was timed ahead of the July 15, 2025 Emmy nominations announcement, ensuring that the platform's awards presence would be under the HBO Max brand. HBO has historically been the most awarded network at the Emmy Awards.
Specific award counts for HBO Max original programming change annually. The platform's content has been recognized by the Television Academy, the Hollywood Foreign Press Association, and various critics' organizations. These awards reflect the quality of HBO and Max Originals programming rather than the streaming technology itself.
Content Removals (2022-2023): Following the Warner Bros Discovery merger, WBD removed several films and series from HBO Max to reduce content costs and take tax write-downs. Titles removed included original films like Batgirl, which was completed but never released, and several animated series. The decision drew significant criticism from creators, fans, and industry observers. WBD defended the moves as necessary financial decisions during the merger integration. Some removed content was later licensed to free ad-supported streaming services. The controversy subsided as WBD shifted strategy toward content investment rather than removal.
Max Rebrand Confusion (2023): The May 2023 rebrand from HBO Max to Max generated consumer confusion and criticism. The move dropped "HBO," the most recognized brand name in premium television, from the streaming service. The official Max social media account posted "These rebrands are trying to murder me" in its bio, acknowledging public frustration. The rebrand was reversed two years later when the service reverted to HBO Max on July 9, 2025.
Technical Issues During High-Demand Launches: HBO Max experienced technical problems during major content launches, including crashes and buffering during popular series premieres. These issues were particularly notable in the service's early years. WBD has since invested in platform infrastructure improvements, and technical complaints have diminished as the platform matured.
International Content Variations: HBO Max's content library varies significantly by country due to licensing agreements. International subscribers have expressed frustration that they cannot access the same content available in the United States. WBD has been working to standardize its global content offering as it expands internationally, but licensing constraints remain a challenge.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Warner Bros Discovery | USA | 2020 | Premium | Global | All-ages | |
| Bbc | United Kingdom | 2017 | Mass market | Global | All-ages | |
| Disney | USA | 2019 | Mass market | Global | All-ages | |
| Walt Disney Company | USA | 2007 | Mass market | Global | All Genders | |
| Paramount Global | USA | 2021 | Mass market | Global | All-ages | |
| Amazon | USA | 2006 | Mass market | Global | All-ages |
Media EntertainmentOwned by Warner Bros. Discovery
American subscription video on-demand streaming service offering content from HBO, Discovery, Warner Bros., and other Warner Bros. Discovery properties. Rebranded from Max back to HBO Max in summer 2025. Reached 140M+ subscribers in Q1 2026, targeting 150M by year-end.
Media EntertainmentOwned by British Broadcasting Corporation (BBC)
British television streaming brand split between BBC Studios' international service and ITV's integrated UK offering.
Media EntertainmentOwned by The Walt Disney Company
American subscription streaming service owned by The Walt Disney Company, providing access to Disney, Pixar, Marvel, Star Wars, and National Geographic content.
Media EntertainmentOwned by The Walt Disney Company
American subscription streaming service offering on-demand video and live TV, owned by The Walt Disney Company through its Disney Streaming subsidiary.
Media EntertainmentOwned by Paramount Skydance Corporation
American subscription streaming service owned by Paramount Skydance Corporation (NASDAQ: PSKY). Launched in 2021 from CBS All Access.
Media EntertainmentOwned by Amazon.com Inc.
Subscription-based video streaming service offering movies, TV shows, and original content as part of Amazon Prime membership.
Market Positioning: HBO Max competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Multiplayer social deduction game developed by InnerSloth, released in 2018, in which players work together to complete tasks while identifying impostors.
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