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But according to Time Warner, most of those subscriber gains for HBO and Cinemax in the U.S. were not ârevenue-producing,â meaning the pay-TV affiliates kept 100% of the fees from subscribers for those services. As of the third quarter, HBO had 29.2 million U.S subs and Cinemax had 13.6 million, according to SNL Kagan.
Although Showtime has been growing its subscription base in recent yearsâit has jumped from 13.8 million U.S. subscribers in 2005 to 20.6 million in late 2011, while HBO has been stuck at around 28 million during that same periodâHBO is still the premium premium cable company.