Streaming may feel crowded right now, but Warner Bros Discovery CEO David Zaslav believes HBO Max has the content and momentum to stand out. Speaking at the Goldman Sachs Communacopia + Technology Conference, Zaslav confirmed that HBO Max is underpriced and will see subscription increases over time.
“The marketplace is really challenged with too many players in the market,” Zaslav said. “When people turn on the TV, it’s a terrible consumer experience. In almost every market in the world, there are just way too many choices.” He argued that HBO Max’s growing international footprint and its reputation for quality programming make the service one of the winners in the global streaming wars.
HBO Max is expanding — and prices will follow
Zaslav projected that HBO Max will be in over 150 million homes worldwide next year. With that reach, the company sees room to raise prices. “The fact that this is quality — and that’s true across our company, motion picture, TV production, and streaming quality — we think that gives us a chance to raise price,” he told investors. “We think we’re way underpriced. We’re going to take our time.”
He also addressed password sharing, a topic that has become a flashpoint for competitors like Netflix. “We haven’t been pushing on the password sharing and the economics yet,” Zaslav said. “People are really starting to love HBO Max. That’s the key. We want them to fall in love with our content, with our series, with the differentiated offering outside of the U.S. We’re going to begin to push on that.”
How this fits into Warner Bros Discovery’s bigger picture
The comments came just a day before news broke that Paramount Skydance is exploring a bid to acquire all of Warner Bros Discovery. That potential move shook up Wall Street and added fresh uncertainty about WBD’s future.
At the same time, Warner Bros Discovery is already charting a new course. The company is preparing to split into two separate businesses by April 2026. Under the plan, Zaslav will lead a streamlined Warner Bros that includes Warner Bros film and TV, HBO, HBO Max, DC Studios, and TCM. Current CFO Gunnar Wiedenfels will run the newly created Discovery division, housing CNN, TNT, TBS, Cartoon Network, HGTV, Discovery, Food Network, and Discovery+.
The bottom line for subscribers
HBO Max is not raising prices overnight, but the direction is clear. With international expansion underway, Zaslav views the platform as positioned to command higher rates, with password sharing restrictions likely to follow later. For subscribers, it means that HBO Max’s reputation for prestige content comes at a premium that will only grow. For Warner Bros Discovery, it’s one more piece of a larger transformation that could reshape the entire entertainment landscape between now and 2026.
