The return of ‘HBO Max’

Warner Bros. Discovery is putting the “HBO” back in “HBO Max,” reversing course just two years after dropping “HBO” from its name in 2023. It’s a move which indicates a return to emphasizing HBO’s particular brand of prestige TV programming. Partners in Banter Kim Masters and Matt Belloni are here to unpack it for us.

What’s in a name? WBD shortened the name of its streaming hub to “Max” two years ago; this was widely received as an attempt by the company to more seamlessly incorporate Discovery’s content into its programming. It was also widely viewed as an attempt by WBD to more forcefully compete with Netflix’s vast array of programming. Now it appears that WBD execs are acknowledging that the renaming and reshuffling — which was widely ridiculed at the time — was a mistake. “They could not compete with Netflix for scale and volume,” Belloni says. “So they are now retreating to what they do best, which is quality, franchise-driven programming.”

I’ll have what she’s selling? The rebrand arrives at a note-worthy time for WBD, as the media company’s Q1 earnings report shows $38 billion of debt. Masters anticipates that a merger with another streaming service, such as Peacock or Paramount+, could be in its near future. Meanwhile, WBD has aggressively dangled its intellectual property to advertisers. See: Batman partnering with State Farm Insurance and a Super Bowl mayonnaise commercial in homage to When Harry Met Sally… complete with a cameo from star of HBO’s Euphoria, Sydney Sweeney. Belloni pinpoints this as an indicator of the financial headwinds faced by WBD: “They are just going to open up the cupboard and say, ‘pick and choose.’ And that’s just a sign of the times. They need money.”