HBO Max had 1.5 million sign-ups in the first five days of its U.K. launch, according to Ampere Analysis, with its Sky bundle key to early subscriptions.
The research firm expects further significant growth for the platform, driven by TNT Sports on HBO Max, thanks to key football fixtures this month. Ampere estimates HBO Max will hit 6 million activated subs by year’s end, making it the U.K.’s fourth-largest streamer.
Sky, which used to be the home of HBO content in the U.K., helped drive HBO Max’s strong early showing, with 77% of activations from existing Sky or NOW homes. The bundle is key for retention, Ampere says, given Sky’s longer-term contracts.
In the U.K., half of streaming subs who signed up for a platform in Q1 2025 churned within a year. Churning from competitors did help to lift HBO Max, with Ampere tracking cancellations of other services at HBO Max’s launch. Disney+ and Prime Video account for the largest share of switching.
Switching from NOW was much lower (4%), indicating the value of that bundling model. New HBO Max subscribers are also users of many other major SVODs, with close to 70% also having Paramount and Netflix, while 53% also have Discovery+, 46% use Disney+, and 32% Sky Sports.
Mayssa Jamil, senior analyst at Ampere Analysis, noted, “HBO Max is experiencing strong early uptake, with most users adding it to their existing mix of streaming services rather than replacing other subscriptions. Switching activity remains relatively limited, suggesting this is largely incremental growth rather than substitution. At the same time, Sky’s bundling strategy is reinforcing its continued role as a key distribution partner and is serving as a template for how pay TV operators can stabilize their customer bases in an era of cord-cutting.”
