Warner Bros. Discovery has lost 1.8 million streaming subscribers

The loss occurred between April 1 and June 30, the quarter in which the company launched its new combined streamer Max (May 23).

According to the company's published Q2 report, the number of streaming subscribers to HBO, Max and Discovery+ now stands at 95.8 million.

Q2 is the first quarter in which the combined product has played a role, yet Q3 (July 1-September 30) will be the first full quarter to reflect Max's results.

WBD had already warned investors of a decline in streaming subscribers in the second quarter, 

as 4 million streaming customers subscribed to both Discovery+ and HBO Max, and some Discovery+ subscribers 

would likely cancel that service to switch to the renamed Max.

Warner Bros. Discovery also announced second-quarter cash flow of $1.7 billion and reported that it is increasing its post-merger synergy target 

for WarnerMedia and Discovery to more than $5 billion over three years.

Source: www.variety.com