HBO CEO Richard Plepler announced that HBO is expanding its over-the-top streaming offering, announcing platforms in Brazil and Argentina, set to launch by the end of the year.
Speaking at the Morgan Stanley Tech & Telecom conference, Plepler made the announcement, expanding HBO's offerings and reach. "We have a lot of range to OTT as we announced in Spain, Colombia and Mexico," Plepler said, prior to announcing the expansion.
Plepler noted that there are 30 million broadband households and 70 million television households, with Plepler saying HBO has around 30% of the market. "We feel the basic business can feed into the premium business."
Earlier this year, HBO announced it was launching an over-the-top service in Spain, on top of the one it has in the U.S.
HBO Now, which competes with Netflix and costs $14.99 a month, has roughly 800,000 subscribers, a lower amount than some on Wall Street initially expected.
"At the time when we made the decision, it was three year old stuff from the library," Plepler said. "It was clear to us that people were not subscribing to HBO to get three year old content and we thought we sell it to Amazon and the fact that there is a very high percentage of Amazon Prime subscribers who did not subscriber to HBO, they could sample and taste our content in another environment. At the time, I believe it made sense for us to monetize our old library."