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Tag: Time Warner

  • Time Warner shareholders approve merger with AT&T

    MUMBAI: Time Warner Inc. shareholders voted to adopt the merger agreement between AT&T Inc. and Time Warner Inc., with 78 per cent of the outstanding shares of common stock voting in favor; and of the shares voted, 99 per cent were cast in favor of the proposal. Having obtained shareholder approval of the transaction, and with regulatory review of the deal underway, the company continues to expect the transaction to close before yearend 2017.

    Time Warner, a global leader in media and entertainment with businesses in television networks and film and TV entertainment, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide on a multi-platform basis.

    Time Warner Inc. chairman and CEO Jeff Bewkes commented: “On behalf of our board of directors and management team, I’m pleased that the Company’s shareholders have approved the proposal to combine with AT&T. In addition to providing shareholders with immediate value and the ability to participate in the upside of the combined company, the deal advances our long-term operational strategy. By combining Time Warner’s leading brands and video content with AT&T’s distribution, we will accelerate our ability to innovate, develop and deliver the next generation of video services, making our content even more valuable to consumers and business partners.”

    Also Read :

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  • Time Warner FY-16 and fourth quarter numbers up

    Time Warner FY-16 and fourth quarter numbers up

    BENGALURU: Time Warner Inc. (Time Warner) reported higher numbers across all divisions and important parameters for the year (FY-16, current quarter) and the quarter (Q4-16, current quarter) ended 31 December 2016 as compared to the corresponding year ago periods.  Warner Bros, Turner and Home Box Office (HBO) all reported increase in revenues and operating incomes. The two major blips were a 1.6 percent (US19 million) decline in advertising revenue in Q4-16 to $1,187 million from$1,206 million in Q4-15; reduction in Warner Bros Videogames and other revenues for both FY-16 and Q4-16.

    Time Warner’s total revenues in FY-16 increased 4.3 percent to $29,318 million from $28,118 million reported for FY-15, while Q4-16 revenues increased 11.5 percent to $7,891 million from $7,079 million. Time Warner’s total operating income in FY-16 increased 9.9 percent to $7,547 million from $6,865 million in QFY-15. The company’s total operating for Q4-16 increased 22 percent to $1,691 million as compared to $1,386 million in Q4-15.

    Time Warner’s total adjusted operating income in FY-16 increased 9.8 percent to $7,601 million from $6,923 million in QFY-15. The company’s total operating for Q4-16 increased 25.2 percent to $1,759 million as compared to $1,405 million in Q4-15.

    Time Warner chairman and CEO Jeff Bewkes said, “We had another very successful year in 2016, demonstrating once more Time Warner’s ability to deliver strong financial performance alongside creative and programming excellence. All our operating divisions increased revenue and profits while also making investments to capitalize on the growing demand for the very best video content and new ways to deliver it to audiences around the world. Warner Bros. is once again the #1 supplier of television shows for the broadcast networks, and had its second-best year ever at the global box office, nearing $5 billion in receipts with such hits as Batman v. Superman: Dawn of Justice, Suicide Squad and Fantastic Beasts and Where to Find Them.”

    Bewkes continued, “Home Box Office again stood apart with its combination of the biggest Hollywood hit movies and best original programming — receiving more primetime Emmy Awards in 2016 than any other network for the 15th consecutive year and launching Westworld, which is produced by Warner Bros. and is the most-watched new series in HBO’s history. We’re also really pleased with the growth of HBO’s domestic OTT product, and we expanded HBO’s international OTT footprint with launches in Spain, Brazil and Argentina in 2016. Turner continued to strengthen its leadership with TBS, TNT and Adult Swim all ranking among ad-supported cable’s top five networks in primetime among adults 18-49 for the year. TBS was the #1 ad-supported entertainment cable network on the strength of great sports and a bold new lineup of originals, including Full Frontal with Samantha Bee, and CNN was the #1 news network among adults 18-49 in primetime and the #1 digital news destination in 2016. The deal to be acquired by AT&T Inc., which we announced in October 2016, will accelerate our efforts to spur innovation in the media industry and further strengthen our businesses. We remain on track to close the transaction later this year.”

    Warner Bros

    Warner Bros revenues for FY-16 were essentially flat at $13,037 million (12,992 million in FY-15). The company says that this reflects higher theatrical and television revenues offset by lower videogames revenues and the impact of foreign exchange rates. Theatrical revenues increased primarily due to the box office releases of Batman v. Superman: Dawn of Justice, Suicide Squad and Fantastic Beasts and Where to Find Them. Television revenues grew primarily due to increased production. Videogames revenues declined as the prior year benefited from the releases of Mortal Kombat X and Batman: Arkham Knight.

    Warner Bros Operating Income in FY-16 increased 22 percent ($318 million) to $1,734 million from $1,416 million in FY-15 as increased theatrical contributions and a $90 million gain on the April 2016 sale of Flixster more than offset the impact from lower videogames revenues.

    Warner Bros Revenues increased 17 percent ($563 million) to $3,868 million from $3,305 million in Q4-15 which Time Warner says was mainly due to higher theatrical revenues, which benefited from the releases of Fantastic Beasts and Where to Find Them and The Accountant, and higher television revenues, primarily due to higher licensing revenues and increased production.

    Warner Bros operating Income increased 57 percent ($208 million) to $574 million in Q4-16 from $366 million in Q4-15 primarily due to the increase in revenues, partially offset by higher associated costs of revenues.

    Turner

    Turner revenues in FY-16 increased 7 percent ($768 million) to $11,364 million from $10,596 million in FY-15, benefiting from increases of 12 percent ($630 million) in Subscription revenues and 3 percent ($126 million) in Advertising revenues.

    The company says that the increase in Subscription revenues was due to higher domestic rates and growth at Turner’s international networks, partially offset by the impact of lower domestic subscribers and foreign exchange rates. Advertising revenues benefited from domestic growth and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates. Domestic advertising revenues grew primarily due to Turner’s news business and sports business, including the 2016 NCAA Division I Men’s Basketball National Championship game, partially offset by lower delivery at certain entertainment networks.

    Turner Operating Income increased 7 percent ($285 million) to $4,372 million in FY-16 from $4,087 million in Fy-15 due to the increase in revenues partially offset by higher expenses, including increased programming and marketing costs. Programming costs grew 5 percent primarily due to higher sports costs and increases at Turner’s news business related to its coverage of the 2016 US Presidential election. The increase in marketing costs was primarily associated with new original series related to the TBS and TNT rebrands.

    Turner’s revenues in Q4-16 increased 6.7 percent ($177 million) to $2,838 million from $2,661 million in Q4-15, due to an increase of 14 percent ($182 million) in Subscription revenues and 9 percent ($14 million) in Content and other revenues, partially offset by a decrease of 2 percent ($19 million) in Advertising revenues.

    The company says that Subscription revenues benefited from higher domestic rates and growth at Turner’s international networks, partially offset by the impact of lower domestic subscribers. Content and other revenues increased primarily due to higher licensing revenues. Advertising revenues decreased due to declines at Turner’s international networks, partially due to foreign exchange rates. Domestic advertising was flat with growth at Turner’s news business offset by lower delivery at certain entertainment networks and lower revenues associated with the MLB postseason games.

    Turners Operating Income in Q4-16 increased 8.2 percent ($64 million) to $841 million from $777 million in Q4-15, reflecting revenue growth partially offset by higher expenses, including increased marketing costs primarily due to new original series. Programming expenses were essentially flat.

    Home Box Office (HBO)

    HBO revenues in FY-16 increased 5 percent ($275 million) to $5,890 million from $5,615 million in FY-15, due to increases of 5 percent ($255 million) in Subscription revenues and 2 percent ($20 million) in Content and other revenues. Subscription revenues grew primarily due to higher domestic rates and international growth. The increase in Content and other revenues primarily reflects higher international licensing revenues, partially offset by lower domestic licensing revenues.

    Operating Income in FY-16 increased 2.1 percent ($39 million) to $1,917 million from $1,878 million, reflecting higher revenues partially offset by increased expenses, including higher programming and restructuring and severance costs. Programming costs grew 7 percent, primarily reflecting increased original programming costs, partially offset by a reduction in amortization resulting from a longer estimated utilization period for original programming.

    HBO Revenues increased 5.6 percent ($79 million) to $1,491 million in Q4-16 from $1,412 million, due to increases of 5 percent ($64 million) in Subscription revenues and 7 percent ($15 million) in Content and other revenues. The company says that Subscription revenues increased due to higher domestic rates and international growth. The increase in Content and other revenues primarily reflects higher home entertainment revenues, partially offset by lower international licensing revenues.

    Operating Income increased 9.2 percent ($36 million) to $429 million in Q4-16 from $393 million in Q4-15, due to the increase in revenues partially offset by higher expenses, including increased distribution expenses related to the timing of home video releases. Programming expenses decreased 2 percent mainly due to lower programming charges, partially offset by increased original programming costs.

  • FB, Google’s biz approach that of a media content company: GroupM chief

    FB, Google’s biz approach that of a media content company: GroupM chief

    MACAO: When the hundred billion dollar man, GroupM Global Chairman Irwin Gotlieb, says that the role of the media is to create content, it’s time to take notes. When he opines that Facebook and Google are tech companies whose “business approach is that of a media company” that relies on content, it’s more the reason that one should seriously relook at content creators and business strategies.

    It’s inevitable that Facebook and Google will get more seriously into content creation, Gotlieb said here, adding that it may not be a very healthy trend considering the power that such companies wield in the digital realm today.

    Speaking to former CASBAA Chairman Marcel Fenez during the Opening Keynote at CASBAA Convention 2016 here on Tuesday, Gotlieb held forth on varied media industry trends, including holding the view that the AT&T-Time Warner type of mergers (yet to be ratified by US regulator) are “just tip of the iceberg” in vertical integration, which can take interesting turn as FB and Google seriously get down to such M&A activities.

    To buttress his argument Gotlieb said that Google had already started a division to create content to target consumers, while it may be a matter of time before FB also follows the same path. It’s “kind of “inevitable” that both these companies move into content creation too, which may pose a challenge to other industry stakeholders, the GroupM chief said.

    Pointing out that both these tech giants were “walled gardens and very protective of the data they have”, Gotlieb, who as the GroupM chief is responsible for generating approximately US$ 100 billion in annual global ad sales, said it may not be a very healthy trend as people need to “see across them to target properly (consumers) to maximise client investments.”

    “In the absence of big ideas…it (data) allows us to reach and understand the consumer better,” Gotlieb said, adding, while replying to another question, the measurement of TV as “we understand today is understated as there are alternate devices (to consume media)” available with consumers.

    Holding forth on the changing nature and measurement of viewing behaviors, Gotlieb also touched upon how ways to reach audiences via the marketing funnel is the same but a granularity of data can help decision-making for each stage of the funnel.

    He underscored how media will continue to play a role and become more targetable, addressable and, eventually, part of the transaction process.

    Meanwhile, after Gotlieb had set the trend for the opening day of the CASBAA Convention here, Pricewaterhouse Coopers MD Oliver Wilkinson provided statistics to illustrate that pay TV was not dead despite what the headlines screamed and that it remained a primary form of entertainment.

    Still, with digital players increasingly encroaching on the turf of pay TV, content and channel providers should look to diverse their business models and offerings, Wilkinson said.

    Doing deals in China was the topic for Bennett Pozil, EVP of East West Bank. He discussed the migration of content both ways as well as some of the pros and cons of doing business in China.

    Vivek Couto, Executive Director at Singapore-based market research company Media Partners Asia, flagged the rise of digital players with the forecast that pay TV growth would slow to about 3 per cent as content providers were looking to establish more direct to consumer offerings. However, he admitted that in some markets in Asia like India players had invested heavily in traditional TV infrastructure.

    Reaching a vast audience through tailored video and gaming content was the topic for Chad Gutstein, CEO of Machinima, who highlighted that their most valued content was when viewers felt they had a connection to the creation of it.

    James Schwab, Co-President of VICE, discussed how their local content policy over digital channels has helped the company grow exponentially over the last few years. The recent move into TV was important for the company as it gave them the ability to invest more in content.

    Localized and Asian content was flagged by Henry Tan, COO of Astro, for being one of the main drivers that has seen the provider defy the trend of decline in time spent on TV and reporting healthy growth in this respect. A true understanding of the complexities of the Malaysian audience demographic was key to content that worked for Astro’s market, he said.

    Piracy, online or otherwise, cropped up in conversations throughout the day with opinions polarized on whether this would continue to be an issue.

    In a session devoted to the subject of content piracy, Avigail Gutman, Programme Director, Operational Security, Cisco, advised that the industry needed to “follow the money” in combating piracy. Lucia Rangel, VP Latin America, Asia Pacific & Worldwide, Game Strategy and Operations, Warner Bros. agreed the problem was global and that `ISD boxes’ formed a critical part of the problem as many consumers were not even aware of the illegality of these and other streaming mechanics. A global effort was needed to fight the pirates, Rangel commented.

    Desmond Chan, Deputy GM, Legal and International Operations, TVB, highlighted the tangible impact piracy had already made to their business, while Nickhil Jakatdar of Vuclip talked about how the content provider’s strategy was to provide a better experience than that available from pirate outfits.

  • FB, Google’s biz approach that of a media content company: GroupM chief

    FB, Google’s biz approach that of a media content company: GroupM chief

    MACAO: When the hundred billion dollar man, GroupM Global Chairman Irwin Gotlieb, says that the role of the media is to create content, it’s time to take notes. When he opines that Facebook and Google are tech companies whose “business approach is that of a media company” that relies on content, it’s more the reason that one should seriously relook at content creators and business strategies.

    It’s inevitable that Facebook and Google will get more seriously into content creation, Gotlieb said here, adding that it may not be a very healthy trend considering the power that such companies wield in the digital realm today.

    Speaking to former CASBAA Chairman Marcel Fenez during the Opening Keynote at CASBAA Convention 2016 here on Tuesday, Gotlieb held forth on varied media industry trends, including holding the view that the AT&T-Time Warner type of mergers (yet to be ratified by US regulator) are “just tip of the iceberg” in vertical integration, which can take interesting turn as FB and Google seriously get down to such M&A activities.

    To buttress his argument Gotlieb said that Google had already started a division to create content to target consumers, while it may be a matter of time before FB also follows the same path. It’s “kind of “inevitable” that both these companies move into content creation too, which may pose a challenge to other industry stakeholders, the GroupM chief said.

    Pointing out that both these tech giants were “walled gardens and very protective of the data they have”, Gotlieb, who as the GroupM chief is responsible for generating approximately US$ 100 billion in annual global ad sales, said it may not be a very healthy trend as people need to “see across them to target properly (consumers) to maximise client investments.”

    “In the absence of big ideas…it (data) allows us to reach and understand the consumer better,” Gotlieb said, adding, while replying to another question, the measurement of TV as “we understand today is understated as there are alternate devices (to consume media)” available with consumers.

    Holding forth on the changing nature and measurement of viewing behaviors, Gotlieb also touched upon how ways to reach audiences via the marketing funnel is the same but a granularity of data can help decision-making for each stage of the funnel.

    He underscored how media will continue to play a role and become more targetable, addressable and, eventually, part of the transaction process.

    Meanwhile, after Gotlieb had set the trend for the opening day of the CASBAA Convention here, Pricewaterhouse Coopers MD Oliver Wilkinson provided statistics to illustrate that pay TV was not dead despite what the headlines screamed and that it remained a primary form of entertainment.

    Still, with digital players increasingly encroaching on the turf of pay TV, content and channel providers should look to diverse their business models and offerings, Wilkinson said.

    Doing deals in China was the topic for Bennett Pozil, EVP of East West Bank. He discussed the migration of content both ways as well as some of the pros and cons of doing business in China.

    Vivek Couto, Executive Director at Singapore-based market research company Media Partners Asia, flagged the rise of digital players with the forecast that pay TV growth would slow to about 3 per cent as content providers were looking to establish more direct to consumer offerings. However, he admitted that in some markets in Asia like India players had invested heavily in traditional TV infrastructure.

    Reaching a vast audience through tailored video and gaming content was the topic for Chad Gutstein, CEO of Machinima, who highlighted that their most valued content was when viewers felt they had a connection to the creation of it.

    James Schwab, Co-President of VICE, discussed how their local content policy over digital channels has helped the company grow exponentially over the last few years. The recent move into TV was important for the company as it gave them the ability to invest more in content.

    Localized and Asian content was flagged by Henry Tan, COO of Astro, for being one of the main drivers that has seen the provider defy the trend of decline in time spent on TV and reporting healthy growth in this respect. A true understanding of the complexities of the Malaysian audience demographic was key to content that worked for Astro’s market, he said.

    Piracy, online or otherwise, cropped up in conversations throughout the day with opinions polarized on whether this would continue to be an issue.

    In a session devoted to the subject of content piracy, Avigail Gutman, Programme Director, Operational Security, Cisco, advised that the industry needed to “follow the money” in combating piracy. Lucia Rangel, VP Latin America, Asia Pacific & Worldwide, Game Strategy and Operations, Warner Bros. agreed the problem was global and that `ISD boxes’ formed a critical part of the problem as many consumers were not even aware of the illegality of these and other streaming mechanics. A global effort was needed to fight the pirates, Rangel commented.

    Desmond Chan, Deputy GM, Legal and International Operations, TVB, highlighted the tangible impact piracy had already made to their business, while Nickhil Jakatdar of Vuclip talked about how the content provider’s strategy was to provide a better experience than that available from pirate outfits.

  • Time Warner invests into Hulu as equity owner

    Time Warner invests into Hulu as equity owner

    BENGALURU: Time Warner Inc. and Hulu LLC announced today that Time Warner will become a 10 percent owner of Hulu, the premium streaming TV service that offers the best of current season programming, premium original content, films and full seasons of hit series. Time Warner joins The Walt Disney Company, 21st Century Fox, and Comcast in the joint venture.

    Turner’s powerful entertainment, sports, news and kids networks including TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies will be available live and on-demand on Hulu’s new live-streaming service, which is slated to launch early next year. Hulu will continue its current offering of ad-supported and ad-free subscription video on demand products to complement both traditional pay TV packages as well as the new streaming service.

    Time Warner chairman and CEO Jeff Bewkes said, “Our investment in Hulu underscores Time Warner’s commitment to supporting and developing new platforms for the delivery of high-quality content and great consumer experiences to audiences around the globe.”

    Bewkes continued: “We’re also excited to join Hulu’s other owners in launching a new consumer-friendly package featuring leading networks that will deliver more value to audiences and complement Hulu’s core SVOD offerings. The inclusion of Turner’s networks in Hulu’s new streaming service furthers our efforts to allow consumers to engage with and enjoy our brands across a wide range of platforms and services.”

    Hulu CEO Mike Hopkins said, “This investment from Time Warner marks a major step for Hulu as we continue to redefine television for both consumers and advertisers. Our two companies have long enjoyed a productive relationship – which includes the availability of past seasons of popular Turner shows on our current SVOD offerings – and we are very proud that Turner’s networks will be included in our planned live streaming service.”

  • Time Warner invests into Hulu as equity owner

    Time Warner invests into Hulu as equity owner

    BENGALURU: Time Warner Inc. and Hulu LLC announced today that Time Warner will become a 10 percent owner of Hulu, the premium streaming TV service that offers the best of current season programming, premium original content, films and full seasons of hit series. Time Warner joins The Walt Disney Company, 21st Century Fox, and Comcast in the joint venture.

    Turner’s powerful entertainment, sports, news and kids networks including TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies will be available live and on-demand on Hulu’s new live-streaming service, which is slated to launch early next year. Hulu will continue its current offering of ad-supported and ad-free subscription video on demand products to complement both traditional pay TV packages as well as the new streaming service.

    Time Warner chairman and CEO Jeff Bewkes said, “Our investment in Hulu underscores Time Warner’s commitment to supporting and developing new platforms for the delivery of high-quality content and great consumer experiences to audiences around the globe.”

    Bewkes continued: “We’re also excited to join Hulu’s other owners in launching a new consumer-friendly package featuring leading networks that will deliver more value to audiences and complement Hulu’s core SVOD offerings. The inclusion of Turner’s networks in Hulu’s new streaming service furthers our efforts to allow consumers to engage with and enjoy our brands across a wide range of platforms and services.”

    Hulu CEO Mike Hopkins said, “This investment from Time Warner marks a major step for Hulu as we continue to redefine television for both consumers and advertisers. Our two companies have long enjoyed a productive relationship – which includes the availability of past seasons of popular Turner shows on our current SVOD offerings – and we are very proud that Turner’s networks will be included in our planned live streaming service.”

  • Can Saavn change the dynamics of radio in India?

    Can Saavn change the dynamics of radio in India?

    MUMBAI: For a streaming service that began as a movie service in 2006 in the United States, Saavn’s decade-long journey and expansion involved not only systematic penetration to varied regions, but branching out to other forms of entertainment.

    Saavn – in 2006 – licensed Bollywood films from India, and brought them onto cable platforms, such as Time Warner, Comcast and Cablevision, and ten years later, the ‘Spotify of India’ has executed unique ten  original programming series catering to mainstream and niche audiences.

    With personalities from radio, music, TV and other forms of entertainment associating with Saavn for the programming series, the entertainment ecosystem appears set for a re-imagining of its plans and strategies.

    Saavn did not take long to amass an impressive user-base. With a heavy catalogue – understandably dominated by Bollywood songs – the US-based company focused on content tailor-made for mainstream Indian users, the company, today, possesses 20 million tracks in 13 different languages and has over 18 million monthly active users.

    Please click here to read further

  • Can Saavn change the dynamics of radio in India?

    Can Saavn change the dynamics of radio in India?

    MUMBAI: For a streaming service that began as a movie service in 2006 in the United States, Saavn’s decade-long journey and expansion involved not only systematic penetration to varied regions, but branching out to other forms of entertainment.

    Saavn – in 2006 – licensed Bollywood films from India, and brought them onto cable platforms, such as Time Warner, Comcast and Cablevision, and ten years later, the ‘Spotify of India’ has executed unique ten  original programming series catering to mainstream and niche audiences.

    With personalities from radio, music, TV and other forms of entertainment associating with Saavn for the programming series, the entertainment ecosystem appears set for a re-imagining of its plans and strategies.

    Saavn did not take long to amass an impressive user-base. With a heavy catalogue – understandably dominated by Bollywood songs – the US-based company focused on content tailor-made for mainstream Indian users, the company, today, possesses 20 million tracks in 13 different languages and has over 18 million monthly active users.

    Please click here to read further

  • Warner Bros. acquires SVOD service DramaFever

    Warner Bros. acquires SVOD service DramaFever

    MUMBAI: Warner Bros has signed an agreement to acquire DramaFever, a US-based company that operates subscription and on-demand video services, including its flagship DramaFever channel, which offers hundreds of Korean television and film dramas, as well as programming from other countries, to subscribers in the US and around the world.

    DramaFever joins Time Warner’s company-wide efforts to reach audiences directly, including the recent acquisition of iStreamPlanet and the launch of SVOD services with HBO NOW in the US, and, in partnership with Tencent, Hollywood VIP in China.

    DramaFever has a strong and growing subscriber base of diverse millennials and plurals that fits well with the company’s plans to enhance its relationship with that audience.

    DramaFever’s experience in creating and running SVOD services targeted at niche audiences, including for third-parties, brings critical expertise, which will be vital to Warner Bros. as it explores various OTT scenarios and establishes more direct connections with its audiences.

    “This is a great fit for Warner Bros.. With Warner Bros.’ resources, we will rapidly enhance and grow the DramaFever channel. As importantly, we are bringing to Warner Bros. a great and talented team, led by Seung Bak and Suk Park, that will move quickly with our own distribution and creative teams to create and build more OTT services,” said Warner Bros. Television Group president, business and strategy Craig Hunegs.

    DramaFever’s co-founders Bak and Park will continue to oversee the company and report to Hunegs.

    “Warner Bros. is truly the ideal home for us. Combining our deep media sensibilities and experience in developing online video destinations with Warner’s vast library and production expertise will provide an unlimited number of opportunities to create the next generation of OTT services and Internet TV brands,” said DramaFever co-founder and CEO Seung Bak.

    DramaFever, while wholly owned by Warner Bros., will continue to operate under that consumer-facing brand and be based in New York.

    DramaFever was launched in 2009 with 10 Korean drama series. The service continues to expand rapidly and has become the leading online destination for the best TV shows and movies from around the world. Today, DramaFever offers hundreds of series, variety shows, films and kids programs, in multiple languages, and is available in more than 20 countries globally and growing.

    Warner Bros. is acquiring DramaFever from SoftBank. The deal is expected to close in the second quarter of 2016.

  • Warner Bros. acquires SVOD service DramaFever

    Warner Bros. acquires SVOD service DramaFever

    MUMBAI: Warner Bros has signed an agreement to acquire DramaFever, a US-based company that operates subscription and on-demand video services, including its flagship DramaFever channel, which offers hundreds of Korean television and film dramas, as well as programming from other countries, to subscribers in the US and around the world.

    DramaFever joins Time Warner’s company-wide efforts to reach audiences directly, including the recent acquisition of iStreamPlanet and the launch of SVOD services with HBO NOW in the US, and, in partnership with Tencent, Hollywood VIP in China.

    DramaFever has a strong and growing subscriber base of diverse millennials and plurals that fits well with the company’s plans to enhance its relationship with that audience.

    DramaFever’s experience in creating and running SVOD services targeted at niche audiences, including for third-parties, brings critical expertise, which will be vital to Warner Bros. as it explores various OTT scenarios and establishes more direct connections with its audiences.

    “This is a great fit for Warner Bros.. With Warner Bros.’ resources, we will rapidly enhance and grow the DramaFever channel. As importantly, we are bringing to Warner Bros. a great and talented team, led by Seung Bak and Suk Park, that will move quickly with our own distribution and creative teams to create and build more OTT services,” said Warner Bros. Television Group president, business and strategy Craig Hunegs.

    DramaFever’s co-founders Bak and Park will continue to oversee the company and report to Hunegs.

    “Warner Bros. is truly the ideal home for us. Combining our deep media sensibilities and experience in developing online video destinations with Warner’s vast library and production expertise will provide an unlimited number of opportunities to create the next generation of OTT services and Internet TV brands,” said DramaFever co-founder and CEO Seung Bak.

    DramaFever, while wholly owned by Warner Bros., will continue to operate under that consumer-facing brand and be based in New York.

    DramaFever was launched in 2009 with 10 Korean drama series. The service continues to expand rapidly and has become the leading online destination for the best TV shows and movies from around the world. Today, DramaFever offers hundreds of series, variety shows, films and kids programs, in multiple languages, and is available in more than 20 countries globally and growing.

    Warner Bros. is acquiring DramaFever from SoftBank. The deal is expected to close in the second quarter of 2016.