HBO Max: A Must, Or A Bust?


Having sat through an HBO investor day almost five years ago to the day, the top two analysts at MoffettNathanson thought it would helpful to use that experience to help evaluate the impending launch of the much-discussed HBO Max. The No. 1 question from the respected Wall Street observers: Is the OTT play a “big bang” or nothing?

The answer could be particularly intriguing for over-the-air broadcasters that worry about further viewer drainage from a flood of new pay-to-view over-the-top platforms entering a saturated space.

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