New VIP+ Analysis: High-flying ratings for the “Game of Thrones” prequel can’t put out WBD’s fires on the PR front and on Wall Street.
HBO’s “Game of Thrones” prequel/spinoff “House of the Dragon” launched Sunday to much fanfare, racking upacross linear and streaming on the night of its premiere, according to the network. While the ratings unsurprisingly fell short of “Game of Thrones” at its peak, they far outstripped same-day viewership for recent HBO hits such as “Euphoria” and “Succession.”
And the numbers will grow substantially in the weeks to come: HBO expects that same-day viewership will ultimately account for only 20 to 40 percent of “the show’s total gross audience.” In other words, a lot more people will catch up with “House of the Dragon” later on HBO Max. But the 10 million figure is already enough to make the first episode of “Dragon” the most watched series premiere in the history of HBO, as the network’s press release proudly declared.
Unfortunately, Wall Street didn’t seem to take much notice. WBD’s stock is still down almost 50 percent from April, when the merger closed; the share price has not topped $14 in more than two weeks. The company’s market cap has also plunged $30 billion since April, a 51 percent drop, staggering even amid this year’s brutal market cap declines.
It’s instructive to compare this to Netflix’s stock, which rose more than 15 percent in the lead-up to and days following
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