Time Warner CEO Touts 2 Million New HBO Subscribers on Earnings Call
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.