Time Warner CEO Touts 2 Million New HBO Subscribers on Earnings Call
Jeff Bewkes also got a chance to crow to analysts about 21 Oscar nominations, the most in the industry.
On an earnings conference call on Wednesday, Time Warner CEO Jeff Bewkes noted that HBO added two million subscribers over the past year -- its highest increase in the past 17 years. "HBO remains a league of its own," said Bewkes.
Earlier in the day, Time Warner reported lower fourth-quarter earnings, but highlighted by a record full-year operating profit at HBO.
Not all of TW's assets got such warm words from the executive. Bewkes said TNT has hit a "soft patch" and would require more investment, that TruTV was suffering from ratings declines and that while CNN had passed MSNBC, ""We still have a lot of work to do."
During the call, Bewkes also shared word that Warner Bros. had record-setting profits in the past year. "This was a banner year," he said. "Warner Bros. is leading the industry by any measure."
Bewkes said that the studio crossed $5 billion in revenue for the first time, thanks to the box-office prowess of films like Gravity, Man of Steel and the latest Hobbit films. The movies were especially popular oversees, taking in $3 billion collectively. Operating income was up 7 percent to $1.3 billion. The Time Warner chief also got a chance to crow about 21 Oscar nominations, the most in the industry.