ITV

Tag: TNT

  • Netflix schools rivals as streamers ace June TV viewership charts

    Netflix schools rivals as streamers ace June TV viewership charts

    MUMBAI: Class is in session and Netflix is teaching everyone a lesson in domination. In Nielsen’s 50th The Gauge report for June 2025, streaming flexed its muscle once again, accounting for a record 46.0 per cent of total TV usage in the US. Leading the binge brigade was Netflix, which saw a 13.5 per cent surge in viewership over May, grabbing an 8.3 per cent share of total television minutes. That’s 0.8 points up month-on-month and enough to account for 42 per cent of streaming’s total gain in June.

    The platform’s winning streak was powered by its usual bag of tricks: original series Ginny & Georgia was crowned the most-streamed title of the month with a jaw-dropping 8.7 billion viewing minutes, while acquired shows Animal Kingdom and Blindspot together clocked 11.4 billion minutes. And just to put a cherry on top, Squid Game Season 3 dropped in the final three days of the month and still managed nearly a billion viewing minutes per day.

    Peacock wasn’t far behind on the podium, notching a 13.4 per cent usage rise fuelled largely by the new season of Love Island USA, which bagged 4.4 billion viewing minutes and ranked fourth overall. The streamer finished June with a 1.5 per cent TV share, up from 1.2 per cent in May.

    Much of the streaming spike can be chalked up to school being out. Kids and teens (aged 6–17) increased their TV usage by 27 per cent in June, with streaming accounting for 66 per cent of their total watch time. Netflix and Peacock saw viewership from this age group climb 32 per cent and 37 per cent, respectively.

    This cohort also powered up consoles and cable boxes, leading to a 41 per cent jump in the “Other” category home to video games and set-top box viewing far above the overall 14 per cent gain in that segment.

    Meanwhile, traditional TV continued its summer slump. Broadcast viewership dipped 5 per cent to an all-time low share of 18.5 per cent, slipping below the 20 per cent mark for the first time. Cable remained mostly flat but still ceded 0.7 share points to end at 23.4 per cent. Combined, cable and broadcast dropped from 44.2 per cent in May to 41.9 per cent in June.

    That said, the NBA Finals threw broadcasters a lifeline, ABC aired all seven of the month’s most-watched telecasts, including the NBA Trophy Presentation. On cable, Conference Finals on ESPN and TNT scored big, while news and special programming like Fox News’ Army 250 Parade and CNN’s Goodnight and Good Luck helped shore up ratings.

    With summer holidays in full swing and streamers rolling out irresistible content, one thing is clear: viewers are switching channels literally and figuratively. And if June is any indication, traditional TV might need more than just a timeout to catch up.

  • Warner Bros Discovery announces restructure; cleaves into two divisions

    Warner Bros Discovery announces restructure; cleaves into two divisions

    MUMBAI: Following in the footsteps of other gorilla media companies trying to find a way to retain value in the face of the streaming tsunami, Warner Bros Discovery (WBD) announced on 12 December that it had got its board’s go ahead to cleave itself into two operating divisions, namely

    * Global Linear Networks: A premier linear television business that operates networks with compelling news, sports, scripted and unscripted programming.
    * Streaming & Studios: A globally scaled streaming platform and storied film and entertainment studios with a portfolio of intellectual property.

    WBD will serve as the parent company. The intent behind this corporate restructuring:  enhance its strategic flexibility and create potential opportunities to unlock additional shareholder value. Additionally, it  expects the new corporate structure to increase clarity and focus, with each division positioned to deliver on its specific strategic and operational objectives while executing on initiatives to further key priorities for the consolidated WBD. 

    Global linear networks will focus on maximising profitability and free cash flow to continue deleveraging, while streaming & studios will focus on driving growth and strong returns on increasing invested capital, said a corporate release. The latter will include streaming platforms Max and Discovery+  and film studios like Warner Bros Pictures and New Line Cinema.

    The new corporate structure will also increase optionality to pursue further value creation opportunities for both divisions in an evolving media landscape, the company statement added.. 

    What analysts are observing in this move, is the possibility of a spin off of the company’s legacy linear TV assets into a separate company as traditional cable TV and linear channels like TNT, Discovery, HLN, Animal Planet, CNN have been on a downward trajectory with cord-cutting rampant.  Last year , WBD  unveiled a $9.1 billion goodwill impairment charge to write down the value of its legacy TV assets. 

    Investors have been beating down the share prices of media companies which don’t have a clear runway for their streaming businesses.

    WBD president &  CEO, David Zaslav has been promising that he would ways to unlock better value for shareholders by strategic moves, as recently as a couple of months ago.

    Comcast beat Zaslav’s maneuvre by announcing plans to spin off its NBCUniversal cable TV networks, including channels like MSNBC, CNBC, and E! so that they would not be a drag on its core business which includes  residential broadband, wireless, business services and NBCUniversal’s streaming, studios and theme parks

    However, other observers say that WBD might find it challenging to do a spinoff in the near future as a lot of the cash coming into the company is via its linear television business, which is seeing declining subscribers. It struck a new multiyear distribution deal with Charter Communications and Comcast which included higher payouts to it by the two for its linear channels.   Its  D2C business is actually on a growth curve and has limited cash inflows as the streaming services expand globally.

    “Since the combination that created Warner Bros. Discovery, we have transformed our business and improved our financial position while providing world class entertainment to global audiences,” said Zaslav in a statement announcing the restructuring. “We continue to prioritize ensuring our global linear networks business is well positioned to continue to drive free cash flow, while our streaming & studios business focuses on driving growth by telling the world’s most compelling stories. Our new corporate structure better aligns our organisation and enhances our flexibility with potential future strategic opportunities across an evolving media landscape, help us build on our momentum and create opportunities as we evaluate all avenues to deliver significant shareholder value.”

    Warner Bros. Discovery expects to start the foundational steps immediately and to complete the implementation of the new corporate structure by mid-2025.In addition, the Company expects to continue to evolve the board to execute its strategy and drive future shareholder value creation. J.P. Morgan, Evercore, and Guggenheim Securities are serving as financial advisors to Warner Bros. Discovery and Kirkland & Ellis and Wachtell Lipton are serving as legal counsel.
     

  • Hathway Bhawani MD and CEO Sameer Joseph quits

    Hathway Bhawani MD and CEO Sameer Joseph quits

    MUMBAI:  Hathway Bhawani Cabletel and Datacom’s managing director and CEO Sameer Joseph has resigned with immediate effect, that is, 4 October, 2017. 

    With an experience of 20+ years of successful track record in service, financial service, FMCG and telecom industry working with brands like TNT, Coke, Idea, Airtel, Tata & Uninor.

    Joseph had joined Hathway Bhawani in November 2016 as the senior vice-president – operations and managing director. Prior to joining Hathway Bhawani, he worked as the vice-president and national sales and distribution head with Sun Telenor Payment Bank. 

    He also worked with Uninor as the associate vice-president and regional sales and distribution head (north and west ) for six years.

  • Turner to launch Tik Tak Tail in Sept, Oggy & the Cockroaches 5 on 14 Aug

    MUMBAI: Turner International India, a Time Warner company which owns and operates brands such as Cartoon Network, CNN, WB, HBO, Toonami and Pogo, is set to launch chase-comedy Tik Tak Tail on its Pogo channel.

    Turner is also starting the new season of ‘Oggy and the Cockroaches’ (Season 5 & 6) on Cartoon Network in 6-630pm time-slot Monday-Friday from 14 August (Monday).

    “The exact date for the launch of ‘Tik Tak Tail will be announced by 24-25 August,” Turner International ED and network head – kids, south Asia Krishna Desai told indiantelevision.com. “It will be most probably in the first half of September,” he added.

    ‘Tik Tak Tail’ will be a fun-filled action-packed entertainer about a cute rabbit and a ferocious tiger who are constantly on the run. It essentially tells the story of the unending attempts of a tiger to catch a rabbit, and how the rabbit always outruns the tiger with his speed and smartness.

    This cross-connected chemistry between Tik, Tak and Tail makes it a fascinating game of one-upmanship and gives the chase comedy a unique identity.

    Also Read:

    Amazon gets ‘Oggy & Cockroaches’, ‘Zig & Sharko’ streaming rights in multi-year deal with Xilam

    Turner Asia Pacific acquires Oggy and the Cockroaches seasons 6 and 7

    Nickelodeon ad sales grew 20%, launches ‘Gattu Battu’

  • Jaideep to lead Ignition’s A-Pac expansion

    Jaideep to lead Ignition’s A-Pac expansion

    MUMBAI: Ignition Creative – a leading, global integrated marketing agency headquartered in Los Angeles – has announced the development of its Asia Pacific operations, launching first in India and led by the newly appointed Ignition’s chairman APAC and Middle East Jaideep Singh.

    Ignition creates culturally relevant entertainment, offering: strategy, print, audiovisual, digital, social, motion design, music, post-production, sound, computer generated (CG) visual effects and physical production. Clients include: 20th Century Fox, Sony Pictures, TNT, Universal Pictures, Warner Bros., Amazon, A&E, AT&T | U-verse, Cirque du Soleil, HBO, Paramount Pictures, Netflix, Nike, Mattel, Yahoo and many more.

    Ignition is bringing a new realm to creative integrated marketing campaigns for brands in India. In addition, it intends to partner with leading Indian film production houses leveraging its recognized experience in creating some of Hollywood’s best integrated film campaigns.

    Ignition is a one-of-a-kind, full service marketing agency. Founded in 2003, its vision was to build an offering that combined CEO Martin Kistler’s renowned entertainment expertise with the deep strategic rigor of brand advertising. Starting as a small trailer house, Ignition quickly saw the future development of the entertainment marketing space, adding an integrated department, physical production division and cutting-edge digital and social tools to respond to clients’ evolving needs. This foresight made Ignition Hollywood’s go-to shop for driving new kinds of audience engagement through innovative, viral campaigns.

    To date, it has delivered hundreds of award-winning campaigns – from Cannes Lions to Clios – for film studios, TV networks and blue chip brands. Notable work includes Netflix and Marvel’s Daredevil, Transformers, Nike’s NIKEID: LeBron’s Homecoming, The Hunger Games, ESPN / Land Rover, LA Dodgers, Game of Thrones and 2K Games’ awaited Civilization VI, to name a few.

    Jaideep Singh’s board consists of veteran, global creatives and business leaders who will be announced over the next two months. Singh will develop, launch and guide Ignition’s expansion in to the APAC and Middle Eastern markets opening its first office in Mumbai, followed by branches opening in Delhi and Bangalore.

    “We have experienced rapid growth thanks to Ignition’s proprietary creative process, Ignite360, which led us to become recognised globally for our ability to help clients unleash new revenue streams while also meeting their marketing needs. As we’ve gained organic momentum, we have seized the opportunity to expand our international footprint, bringing the agency’s diverse talent-pool and full-service offering to more markets,” said Ignition Creative founder, CEO and chief creative officer Martin Kistler.

    “We feel fortunate to have found a perfect partner in Jaideep Singh whose relevant experience of India and solid understanding of global media industries will help us grow our international operations. His extensive knowledge of international partnerships and expertise in cultural and social trends make him an invaluable addition to Ignition’s leadership team,” added Kistler.

    Earlier this year, Singh was appointed as the managing director of creative technology innovation group, Volocity Media, to launch its India and APAC operations. He continues to spearhead Volocity’s expansion plans alongside his new role at Ignition. Singh holds to his credit 20 years of diverse experience across marketing, media and entertainment. A decorated ex-army major who for the last 15 years has worked with notable companies, including, JK Tyres, Confederation Of India Industries and Radio Mirchi. His last stint was a stellar 10-year position at Viacom India, where — as Senior Vice President and Business Head of Integrated Network Solutions — he launched hosts of domestic and global impact’s (IP’s), secured strategic media partnerships with brands, government sectors and engaged with entertainment and media divisions across the globe.

    “There is high demand from businesses in the Middle East, India and across Asia to work with an agency that combines data-driven strategy, purposeful creative and cutting-edge technologies to deliver measurable campaign results. Ignition offers a unique, integrated package of services plus award-winning experience marketing global brands and Hollywood blockbusters. So it’s a thrilling venture applying its success to explore new markets and push new creative boundaries,” said Singh.

  • Jaideep to lead Ignition’s A-Pac expansion

    Jaideep to lead Ignition’s A-Pac expansion

    MUMBAI: Ignition Creative – a leading, global integrated marketing agency headquartered in Los Angeles – has announced the development of its Asia Pacific operations, launching first in India and led by the newly appointed Ignition’s chairman APAC and Middle East Jaideep Singh.

    Ignition creates culturally relevant entertainment, offering: strategy, print, audiovisual, digital, social, motion design, music, post-production, sound, computer generated (CG) visual effects and physical production. Clients include: 20th Century Fox, Sony Pictures, TNT, Universal Pictures, Warner Bros., Amazon, A&E, AT&T | U-verse, Cirque du Soleil, HBO, Paramount Pictures, Netflix, Nike, Mattel, Yahoo and many more.

    Ignition is bringing a new realm to creative integrated marketing campaigns for brands in India. In addition, it intends to partner with leading Indian film production houses leveraging its recognized experience in creating some of Hollywood’s best integrated film campaigns.

    Ignition is a one-of-a-kind, full service marketing agency. Founded in 2003, its vision was to build an offering that combined CEO Martin Kistler’s renowned entertainment expertise with the deep strategic rigor of brand advertising. Starting as a small trailer house, Ignition quickly saw the future development of the entertainment marketing space, adding an integrated department, physical production division and cutting-edge digital and social tools to respond to clients’ evolving needs. This foresight made Ignition Hollywood’s go-to shop for driving new kinds of audience engagement through innovative, viral campaigns.

    To date, it has delivered hundreds of award-winning campaigns – from Cannes Lions to Clios – for film studios, TV networks and blue chip brands. Notable work includes Netflix and Marvel’s Daredevil, Transformers, Nike’s NIKEID: LeBron’s Homecoming, The Hunger Games, ESPN / Land Rover, LA Dodgers, Game of Thrones and 2K Games’ awaited Civilization VI, to name a few.

    Jaideep Singh’s board consists of veteran, global creatives and business leaders who will be announced over the next two months. Singh will develop, launch and guide Ignition’s expansion in to the APAC and Middle Eastern markets opening its first office in Mumbai, followed by branches opening in Delhi and Bangalore.

    “We have experienced rapid growth thanks to Ignition’s proprietary creative process, Ignite360, which led us to become recognised globally for our ability to help clients unleash new revenue streams while also meeting their marketing needs. As we’ve gained organic momentum, we have seized the opportunity to expand our international footprint, bringing the agency’s diverse talent-pool and full-service offering to more markets,” said Ignition Creative founder, CEO and chief creative officer Martin Kistler.

    “We feel fortunate to have found a perfect partner in Jaideep Singh whose relevant experience of India and solid understanding of global media industries will help us grow our international operations. His extensive knowledge of international partnerships and expertise in cultural and social trends make him an invaluable addition to Ignition’s leadership team,” added Kistler.

    Earlier this year, Singh was appointed as the managing director of creative technology innovation group, Volocity Media, to launch its India and APAC operations. He continues to spearhead Volocity’s expansion plans alongside his new role at Ignition. Singh holds to his credit 20 years of diverse experience across marketing, media and entertainment. A decorated ex-army major who for the last 15 years has worked with notable companies, including, JK Tyres, Confederation Of India Industries and Radio Mirchi. His last stint was a stellar 10-year position at Viacom India, where — as Senior Vice President and Business Head of Integrated Network Solutions — he launched hosts of domestic and global impact’s (IP’s), secured strategic media partnerships with brands, government sectors and engaged with entertainment and media divisions across the globe.

    “There is high demand from businesses in the Middle East, India and across Asia to work with an agency that combines data-driven strategy, purposeful creative and cutting-edge technologies to deliver measurable campaign results. Ignition offers a unique, integrated package of services plus award-winning experience marketing global brands and Hollywood blockbusters. So it’s a thrilling venture applying its success to explore new markets and push new creative boundaries,” said Singh.

  • Turner gets into digital ventures; announces key execs in leadership positions

    Turner gets into digital ventures; announces key execs in leadership positions

    MACAO:Turner International yesterday announced a new division to lead its digital innovation internationally and promoted with Aksel van der Wal, presently senior vice-president and chief financial officer, to the new role of executive vice-president, to lead the initiative effective 1 January, 2017.

    Under his leadership the new division will focus on driving profitable growth through international consumer-centric initiatives, including all of Turner’s international multiplatform suite of digital properties and its direct-to-consumer product strategy, Turner said in a statement during the on-going CASBAA Convention 2016 here yesterday.

    In close co-operation with the Turner International presidents, van der Wal has the responsibility for the existing portfolio of international products and services on the web, for smart phones, games, apps and OTT, and he will also be charged with developing new digital direct-to-consumer businesses leading a cross-platform business intelligence function that drives consumer insight and helping to implement the strategy of the non-linear ad sales business.

    Additionally, van der Wal will identify new opportunities for Turner and decide on how to engage in those new areas through technological product innovation and/or acquisitions.

    “As our industry undergoes huge evolution, the impact of digital disruption and changing consumer behaviour continues to put audience insight right at the heart of our business strategy,” Gerhard Zeiler, President, Turner International said in the statement about van der Wal’s new assignment and the company’s fresh outlook.

    “This new division will ensure that we assess new opportunities for innovation, development and acquisition through the lens of relevant, robust consumer data and through a realigned, agile organisational structure. Aksel’s experience in transformative management, his first-class understanding of both the linear and digital media landscapes and his detailed knowledge of Turner’s international operation all combine to make him a superb fit for this new role,” Zeiler said.

    In his role as chief financial officer for Turner International, van der Wal, who will report to the Turner president, will be succeeded by Trey Turner, presently Senior VP, Corporate Finance, Mergers and Acquisitions. Al the new changes will be effective 1 January, 2017.

    Based in Atlanta, Turner will report to Pascal Desroches, Executive VP and CFO of Turner, while working closely with Zeiler. He will be responsible for the company’s financial operations and will be an active partner and contributor in shaping the direction of the company’s international business and implementing its strategy.
    “Trey has the perfect experience to lead the business, capital and budgeting activities for our international businesses,” according to said Pascal Desroches, who added, “He has acquired a depth of knowledge about our company and brings great passion and significant experience to the role. We expect Trey to play a key role in helping us expand our global operations.”

    Aksel van der Wal joined Turner in 2014 as CFO, Turner EMEA and was promoted to S VP and CFO, Turner International, in June 2015. Before joining Turner, van der Wal worked for three years and served as CEO, Time Out, at its two main business sites, London and New York City. Prior to Time Out, he was CFO at online ticket exchange operation Seatwave and previously held senior financial and business development roles at Vodafone, including CFO of partner markets.

    Turner International operates versions of core Turner brands, including CNN, TNT, Cartoon Network, Boomerang and TCM Turner Classic Movies as well as country and region-specific networks and businesses in Latin America, Europe, the Middle East, Africa and Asia Pacific. It manages the business of pay- and free-TV channels as well as Internet-based services and oversees commercial partnerships with various third-party media ventures.

  • Turner gets into digital ventures; announces key execs in leadership positions

    Turner gets into digital ventures; announces key execs in leadership positions

    MACAO:Turner International yesterday announced a new division to lead its digital innovation internationally and promoted with Aksel van der Wal, presently senior vice-president and chief financial officer, to the new role of executive vice-president, to lead the initiative effective 1 January, 2017.

    Under his leadership the new division will focus on driving profitable growth through international consumer-centric initiatives, including all of Turner’s international multiplatform suite of digital properties and its direct-to-consumer product strategy, Turner said in a statement during the on-going CASBAA Convention 2016 here yesterday.

    In close co-operation with the Turner International presidents, van der Wal has the responsibility for the existing portfolio of international products and services on the web, for smart phones, games, apps and OTT, and he will also be charged with developing new digital direct-to-consumer businesses leading a cross-platform business intelligence function that drives consumer insight and helping to implement the strategy of the non-linear ad sales business.

    Additionally, van der Wal will identify new opportunities for Turner and decide on how to engage in those new areas through technological product innovation and/or acquisitions.

    “As our industry undergoes huge evolution, the impact of digital disruption and changing consumer behaviour continues to put audience insight right at the heart of our business strategy,” Gerhard Zeiler, President, Turner International said in the statement about van der Wal’s new assignment and the company’s fresh outlook.

    “This new division will ensure that we assess new opportunities for innovation, development and acquisition through the lens of relevant, robust consumer data and through a realigned, agile organisational structure. Aksel’s experience in transformative management, his first-class understanding of both the linear and digital media landscapes and his detailed knowledge of Turner’s international operation all combine to make him a superb fit for this new role,” Zeiler said.

    In his role as chief financial officer for Turner International, van der Wal, who will report to the Turner president, will be succeeded by Trey Turner, presently Senior VP, Corporate Finance, Mergers and Acquisitions. Al the new changes will be effective 1 January, 2017.

    Based in Atlanta, Turner will report to Pascal Desroches, Executive VP and CFO of Turner, while working closely with Zeiler. He will be responsible for the company’s financial operations and will be an active partner and contributor in shaping the direction of the company’s international business and implementing its strategy.
    “Trey has the perfect experience to lead the business, capital and budgeting activities for our international businesses,” according to said Pascal Desroches, who added, “He has acquired a depth of knowledge about our company and brings great passion and significant experience to the role. We expect Trey to play a key role in helping us expand our global operations.”

    Aksel van der Wal joined Turner in 2014 as CFO, Turner EMEA and was promoted to S VP and CFO, Turner International, in June 2015. Before joining Turner, van der Wal worked for three years and served as CEO, Time Out, at its two main business sites, London and New York City. Prior to Time Out, he was CFO at online ticket exchange operation Seatwave and previously held senior financial and business development roles at Vodafone, including CFO of partner markets.

    Turner International operates versions of core Turner brands, including CNN, TNT, Cartoon Network, Boomerang and TCM Turner Classic Movies as well as country and region-specific networks and businesses in Latin America, Europe, the Middle East, Africa and Asia Pacific. It manages the business of pay- and free-TV channels as well as Internet-based services and oversees commercial partnerships with various third-party media ventures.

  • Q3-16: Time Warner revenue up 9.2 percent

    Q3-16: Time Warner revenue up 9.2 percent

    BENGALURU: Time Warner Inc., (Time Warner) reported 9.2 percent year-over-year (y-o-y) growth in revenue for the third quarter ended 30 September 2016 (Q3-16, current quarter).

    Time Warner reported total revenue of $7,167 million for the current quarter versus $6,564 million in the corresponding year ago quarter. Among its three divisions – Turner, Home Box Office, and Warner Bros, Turner reported 8.8 percent y-o-y increase in revenue of $2,610 million in Q3-16 vis-à-vis $2,398 million in Q3-15. HBO revenue grew 4.3 percent y-o-y in the current quarter to $1,426 million from$1,367 million, while Warner Bros revenue increased 6.6 percent y-o-y to $3,402 million from $3,190 million.

    Operating Income increased 9.8 percent y-o-y to $2,014 million in Q3-16 from $1,834 million. Adjusted Operating Income increased 12.4 to $2,070 million from $1,842 million, which the company says was due to increases at all operating divisions and lower intercompany eliminations. Revenues included the unfavourable impact of foreign exchange rates of approximately $55 million in the quarter.

    Breakup of numbers

    Turner

    A 12.4 percent y-o-y) increase in subscription revenue helped boost Turner revenue, while Advertising (ad) revenue increased 1.2 percent y-o-y during the current quarter.  Time Warner’s Subscription revenue in Q3-16 was $1,480 million as against $1,317 million in the corresponding year ago quarter. The division’s ad revenue in the current quarter was $996 million, while it was $980 million in Q3-15.

    Turner’s operating income increased 8.4 percent y-o-y in Q3-16 to $1,612 million from $1,072 million in Q3-15.

    Time Warner says that Subscription revenues increased 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 growth at Turner’s domestic news business, partially offset by lower delivery at certain domestic entertainment networks. International advertising was essentially flat with local currency growth offset by the impact of foreign exchange rates. Content and other revenues increased due to higher international licensing revenues.

    HBO

    HBO revenues increased on account of a 5.2 percent y-o-y increase in subscription revenue in Q3-16 to $1,262 million from $1,200 million. Content and other revenue declined 1.8 percent y-o-y in the current quarter to $164 million from $167 million.

    HBO’s operating income in Q3-16 increased 2.1 percent y-o-y to $530 million from $519 million.

    The company says that Subscription revenues increased due to higher domestic rates and international growth. The decrease in Content and other revenues was due to lower domestic licensing revenues, partially offset by higher international licensing revenues.

    Warner Bros

    Warner Bros revenues increased due to a 44.9 percent y-o-y gain in its Theatrical product to $1,605 million in Q3-16 from $1,108 million. This gain was offset by a 2.1 percent y-o-y decline in Warner’s Television product to $1,430 million from #1,460 million and a 41 percent decline in its ‘Videogames and other’ revenue to $367 million from$672 million.

    The company says that Theatrical revenues increased due to the box office releases of Suicide Squad, The Legend of Tarzan, Sully and Lights Out. Videogames revenues declined due to the comparison to the launch ofLEGO Dimensions and carryover revenues from Mortal Kombat X in the prior year quarter.

    Warner Operating Income increased 11.2 percent ($43 million) y-o-y in the current quarter to $428 million from $385 million, due to the increase in revenues, partially offset by higher costs of revenues associated with the mix of film releases.

    Company speak

    Time Warner chairman and CEO Jeff Bewkes said, “We had a strong third quarter, which keeps us on track to exceed our original 2016 outlook and underscores our leadership in creating and distributing the very best content. In television, HBO took home more Primetime Emmy Awards than any other network for the 15th consecutive year and Time Warner’s divisions won a total of 40 Emmys, more than any other company. CNN’s standout election coverage made it the #1 news network in primetime among adults 18-49 for the fourth consecutive quarter and Turner’s momentum doesn’t stop there. Year-to-date, TBS, TNT and Adult Swim are three of the top five ad-supported cable networks in primetime among adults 18-49. In film, Warner Bros. had a strong quarter led by Suicide Squad and has the #1 release of the fall in Sully, while anticipation is off the charts for J.K. Rowling’s Fantastic Beasts and Where to Find Them, which hits the big screen on November 18.”

    Bewkes continued, “The agreement we announced on October 22 to be acquired by AT&T Inc. represents a great outcome for our shareholders and an excellent opportunity to drive long-term value well into the future. Combining with AT&T is the natural next step in the evolution of our business and allows us to significantly accelerate our most important strategies.”

  • Q3-16: Time Warner revenue up 9.2 percent

    Q3-16: Time Warner revenue up 9.2 percent

    BENGALURU: Time Warner Inc., (Time Warner) reported 9.2 percent year-over-year (y-o-y) growth in revenue for the third quarter ended 30 September 2016 (Q3-16, current quarter).

    Time Warner reported total revenue of $7,167 million for the current quarter versus $6,564 million in the corresponding year ago quarter. Among its three divisions – Turner, Home Box Office, and Warner Bros, Turner reported 8.8 percent y-o-y increase in revenue of $2,610 million in Q3-16 vis-à-vis $2,398 million in Q3-15. HBO revenue grew 4.3 percent y-o-y in the current quarter to $1,426 million from$1,367 million, while Warner Bros revenue increased 6.6 percent y-o-y to $3,402 million from $3,190 million.

    Operating Income increased 9.8 percent y-o-y to $2,014 million in Q3-16 from $1,834 million. Adjusted Operating Income increased 12.4 to $2,070 million from $1,842 million, which the company says was due to increases at all operating divisions and lower intercompany eliminations. Revenues included the unfavourable impact of foreign exchange rates of approximately $55 million in the quarter.

    Breakup of numbers

    Turner

    A 12.4 percent y-o-y) increase in subscription revenue helped boost Turner revenue, while Advertising (ad) revenue increased 1.2 percent y-o-y during the current quarter.  Time Warner’s Subscription revenue in Q3-16 was $1,480 million as against $1,317 million in the corresponding year ago quarter. The division’s ad revenue in the current quarter was $996 million, while it was $980 million in Q3-15.

    Turner’s operating income increased 8.4 percent y-o-y in Q3-16 to $1,612 million from $1,072 million in Q3-15.

    Time Warner says that Subscription revenues increased 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 growth at Turner’s domestic news business, partially offset by lower delivery at certain domestic entertainment networks. International advertising was essentially flat with local currency growth offset by the impact of foreign exchange rates. Content and other revenues increased due to higher international licensing revenues.

    HBO

    HBO revenues increased on account of a 5.2 percent y-o-y increase in subscription revenue in Q3-16 to $1,262 million from $1,200 million. Content and other revenue declined 1.8 percent y-o-y in the current quarter to $164 million from $167 million.

    HBO’s operating income in Q3-16 increased 2.1 percent y-o-y to $530 million from $519 million.

    The company says that Subscription revenues increased due to higher domestic rates and international growth. The decrease in Content and other revenues was due to lower domestic licensing revenues, partially offset by higher international licensing revenues.

    Warner Bros

    Warner Bros revenues increased due to a 44.9 percent y-o-y gain in its Theatrical product to $1,605 million in Q3-16 from $1,108 million. This gain was offset by a 2.1 percent y-o-y decline in Warner’s Television product to $1,430 million from #1,460 million and a 41 percent decline in its ‘Videogames and other’ revenue to $367 million from$672 million.

    The company says that Theatrical revenues increased due to the box office releases of Suicide Squad, The Legend of Tarzan, Sully and Lights Out. Videogames revenues declined due to the comparison to the launch ofLEGO Dimensions and carryover revenues from Mortal Kombat X in the prior year quarter.

    Warner Operating Income increased 11.2 percent ($43 million) y-o-y in the current quarter to $428 million from $385 million, due to the increase in revenues, partially offset by higher costs of revenues associated with the mix of film releases.

    Company speak

    Time Warner chairman and CEO Jeff Bewkes said, “We had a strong third quarter, which keeps us on track to exceed our original 2016 outlook and underscores our leadership in creating and distributing the very best content. In television, HBO took home more Primetime Emmy Awards than any other network for the 15th consecutive year and Time Warner’s divisions won a total of 40 Emmys, more than any other company. CNN’s standout election coverage made it the #1 news network in primetime among adults 18-49 for the fourth consecutive quarter and Turner’s momentum doesn’t stop there. Year-to-date, TBS, TNT and Adult Swim are three of the top five ad-supported cable networks in primetime among adults 18-49. In film, Warner Bros. had a strong quarter led by Suicide Squad and has the #1 release of the fall in Sully, while anticipation is off the charts for J.K. Rowling’s Fantastic Beasts and Where to Find Them, which hits the big screen on November 18.”

    Bewkes continued, “The agreement we announced on October 22 to be acquired by AT&T Inc. represents a great outcome for our shareholders and an excellent opportunity to drive long-term value well into the future. Combining with AT&T is the natural next step in the evolution of our business and allows us to significantly accelerate our most important strategies.”