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Warner Bros. Discovery owns HBO Max, a U.S. subscription video on demand (SVOD) service. The service will debut on May 27, 2020, in the US and is based on the HBO, Warner Bros., and its affiliated brands' libraries. Additionally, the service offers first-run content from the HBO subscription television service, original content under the "Max Originals" label (including shows produced in collaboration with Warner Bros. Discovery channels like Cartoon Network and Adult Swim), and content obtained through third-party library deals (like those with movie studios for pay television rights) and co-production agreements (such as those with BBC Studios and Sesame Workshop among others). The platform replaces both HBO Go, the on-demand streaming platform for HBO pay television subscribers, and HBO Now, a former HBO SVOD service. Subject to availability and device support, HBO Now and HBO pay television subscribers in the U.S. were transferred for free to HBO Max. The original shows from DC Entertainment's DC Universe service were transferred to HBO Max as Max Originals, replacing the streaming portion of that service. In 2021, the HBO Max service started to enter foreign regions. On June 30, 2021, HBO and HBO Max had a combined total of 69.4 million paying subscribers worldwide, including 43.5 million HBO Max subscribers in the United States, 3.5 million HBO-only subscribers in the United States (mostly businesses like hotels), and 20.5 million subscribers to either HBO Max or HBO by itself in other nations. By the end of 2021, there were 73.8 million paying customers worldwide for both HBO and HBO Max. HBO and HBO Max have 76.8 million global members at the end of Q1 2022. Since WarnerMedia and Discovery Inc. merged in April 2022 to form Warner Bros. Discovery, HBO Max has been one of the combined company's two main streaming services, along with Discovery+ (which primarily focuses on factual programming from the Discovery Inc. brands). The business intends to bundle the two services in the future and eventually combine them.

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