HBO Now reaches 800,000 subscribers

HBO Now

There are now 800,000 paying subscribers on HBO Now, according to HBO CEO Richard Plepler.

The internet-based subscription service launched just eight months ago. Wall Street had expected the popular subscription service to rack up between 1 and 2 million subscribers by this time.

“We’re very excited about where we are,” said Plepler.

When asked why the company has not reached analysts expectations, Plepler was defensive of his company’s progress.

“I wouldn’t say only 800,000 subs. We’re just getting started…I think we’re going to make a lot of progress as we put new content on to our platforms.”

Among the shows he touted were new offerings from Jon Stewart and a daily news program from Vice.

CBS All Access and Showtime have yet to reveal their subscriber numbers.

Plepler said the cable company was not considering altering its $14.99 a month price for the subscription service.

“We don’t have any plans to change the price point,” he said, adding, “We think that a premium price right now makes sense.”

Going forward, Time Warner leadership said they planned to increase HBO’s global programming hours by 50% this year. The company, which owns HBO, also plans to double its marketing efforts to drive higher subscription numbers.