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Tag: Warner Bros.

  • Q2-16: Warner Bros pulls down Time Warner revenue 5.4 percent

    Q2-16: Warner Bros pulls down Time Warner revenue 5.4 percent

    BENGALURU: Lower videogames, home entertainment and television licensing revenues pulled down Warner Bros revenue by 19.4 percent year-over-year (y-o-y) and operating income by 9.4 percent y-o-y for the quarter ended 30 June 2016 (Q2-16, current quarter). Warner Bros contributed 38.2 percent to Time Warner Inc. (Time Warner) in Q2-16, and hence pulled down its parent’s consolidated revenue by 5.4 percent y-o-y to $6,952 million from $7,348 million in the corresponding year ago quarter.

    Time Warner operating income was almost flat y-o-y (declined 0.7 percent) in the current quarter at $1,846 million as compared to $1,849 million in Q2-15. Adjusted operating income in Q2-16 declined 5.5 percent y-o-y to $1,760 million from $1,862 million in Q2-15.

    Company speak

    Time Warner chairman and CEO Jeff Bewkes said, “We had a strong first half of 2016, which puts us ahead of our original goals for the year. Our performance reflects the creative excellence resulting from investments we’ve been making in the very best content. At the same time, we’re capitalizing on new distribution opportunities to take advantage of the growing demand for high-quality video content around the world. As an example of our creative excellence, Time Warner received 148 Primetime Emmy nominations – more than any other company – with HBO’s 94 again setting the pace for the industry. In the second quarter, TNT and TBS finished as the two highest rated ad-supported cable networks in primetime among adults 18-49, and Warner Bros. once again came out of the upfront as the leading supplier to broadcast television. Warner Bros. also gained momentum in film with recent successes, such as Central Intelligence and The Conjuring 2, and anticipation is running high for Suicide Squad, which debuts this week.”

    Bewkes continued, “Today, we also announced our 10 percent investment in Hulu LLC and that Turner has separately signed an affiliate agreement for its full suite of networks to be carried on Hulu’s live-streaming service slated for launch early next year. These are just the latest examples of our commitment to supporting innovative digital services that allow consumers to access high-quality content however they want it across a variety of platforms. We’re confident the multiple investments we’re making in these types of services position the Company to benefit from growing global demand for the strongest network brands and very best video content.”

    Segment numbers

    Time Warner has three segments – Turner – which contributed the most to revenue (43.3 percent in Q2-16), Home Box Office – the smallest segment in terms of revenue contribution (21.1 percent in Q2-16) and Warner Bros which contributed 38.2 percent to Time Warner’s revenue Q2-16.

    Turner

    Turner reported 6.5 percent y-o-y increase in revenue in Q2-16 at $3,010 million as compared to $2,827 million in Q2-15. Revenues due to increases of 11 percent ($142 million) in Subscription revenue and 6 percent ($73 million) in Advertising revenue, partially offset by a decline of 15 percent ($32 million) in Content and other revenue says the company.

    Turner’s operating income in Q2-16 was flat y-o-y at $1,130 million, while adjusted operating income increased marginally y-o-y (0.3 percent) to $1,133 million from $1,130 million. The company says that operating income was flat as the growth in revenues was offset by higher expenses, including increased programming and marketing costs.

    Home Box Office (HBO)

    HBO revenue in the current quarter increased 2 percent y-o-y to $1,467million from $1,438 million in Q2-15. Time Warner says that HBO revenue increased due to an increase of 6 percent ($72 million) in Subscription revenues partially offset by a decline of 17 percent ($43 million) in Content and other revenues.

    The segment reported 5.3 percent y-o-y decline in operating income and adjusted operating income in the current quarter to $481 million from $508 million in Q2-15. Operating income declined because the growth in revenues was more than offset by higher expenses, including increased programming and restructuring and severance costs says the company.

    Warner Bros

    As mentioned above, Warner Bros declined 19.4 percent y-o-y to $2,658 million from $3,298 due to lower videogames, home entertainment and television licensing revenues.

    The segment reported 9.7 percent y-o-y decline in operating income in Q2-16 to $308 million from $341 million.  Adjusted operating income in the current quarter declined 36.9 percent to $217 million from $344 million in Q2-15. Time Warner says that operating income declined due to the decline in revenues, partially offset by lower associated costs of revenues due to the number and mix of film and videogames releases, a $90 million gain on the April 2016 sale of Flixster and lower film valuation adjustments.

  • Q2-16: Warner Bros pulls down Time Warner revenue 5.4 percent

    Q2-16: Warner Bros pulls down Time Warner revenue 5.4 percent

    BENGALURU: Lower videogames, home entertainment and television licensing revenues pulled down Warner Bros revenue by 19.4 percent year-over-year (y-o-y) and operating income by 9.4 percent y-o-y for the quarter ended 30 June 2016 (Q2-16, current quarter). Warner Bros contributed 38.2 percent to Time Warner Inc. (Time Warner) in Q2-16, and hence pulled down its parent’s consolidated revenue by 5.4 percent y-o-y to $6,952 million from $7,348 million in the corresponding year ago quarter.

    Time Warner operating income was almost flat y-o-y (declined 0.7 percent) in the current quarter at $1,846 million as compared to $1,849 million in Q2-15. Adjusted operating income in Q2-16 declined 5.5 percent y-o-y to $1,760 million from $1,862 million in Q2-15.

    Company speak

    Time Warner chairman and CEO Jeff Bewkes said, “We had a strong first half of 2016, which puts us ahead of our original goals for the year. Our performance reflects the creative excellence resulting from investments we’ve been making in the very best content. At the same time, we’re capitalizing on new distribution opportunities to take advantage of the growing demand for high-quality video content around the world. As an example of our creative excellence, Time Warner received 148 Primetime Emmy nominations – more than any other company – with HBO’s 94 again setting the pace for the industry. In the second quarter, TNT and TBS finished as the two highest rated ad-supported cable networks in primetime among adults 18-49, and Warner Bros. once again came out of the upfront as the leading supplier to broadcast television. Warner Bros. also gained momentum in film with recent successes, such as Central Intelligence and The Conjuring 2, and anticipation is running high for Suicide Squad, which debuts this week.”

    Bewkes continued, “Today, we also announced our 10 percent investment in Hulu LLC and that Turner has separately signed an affiliate agreement for its full suite of networks to be carried on Hulu’s live-streaming service slated for launch early next year. These are just the latest examples of our commitment to supporting innovative digital services that allow consumers to access high-quality content however they want it across a variety of platforms. We’re confident the multiple investments we’re making in these types of services position the Company to benefit from growing global demand for the strongest network brands and very best video content.”

    Segment numbers

    Time Warner has three segments – Turner – which contributed the most to revenue (43.3 percent in Q2-16), Home Box Office – the smallest segment in terms of revenue contribution (21.1 percent in Q2-16) and Warner Bros which contributed 38.2 percent to Time Warner’s revenue Q2-16.

    Turner

    Turner reported 6.5 percent y-o-y increase in revenue in Q2-16 at $3,010 million as compared to $2,827 million in Q2-15. Revenues due to increases of 11 percent ($142 million) in Subscription revenue and 6 percent ($73 million) in Advertising revenue, partially offset by a decline of 15 percent ($32 million) in Content and other revenue says the company.

    Turner’s operating income in Q2-16 was flat y-o-y at $1,130 million, while adjusted operating income increased marginally y-o-y (0.3 percent) to $1,133 million from $1,130 million. The company says that operating income was flat as the growth in revenues was offset by higher expenses, including increased programming and marketing costs.

    Home Box Office (HBO)

    HBO revenue in the current quarter increased 2 percent y-o-y to $1,467million from $1,438 million in Q2-15. Time Warner says that HBO revenue increased due to an increase of 6 percent ($72 million) in Subscription revenues partially offset by a decline of 17 percent ($43 million) in Content and other revenues.

    The segment reported 5.3 percent y-o-y decline in operating income and adjusted operating income in the current quarter to $481 million from $508 million in Q2-15. Operating income declined because the growth in revenues was more than offset by higher expenses, including increased programming and restructuring and severance costs says the company.

    Warner Bros

    As mentioned above, Warner Bros declined 19.4 percent y-o-y to $2,658 million from $3,298 due to lower videogames, home entertainment and television licensing revenues.

    The segment reported 9.7 percent y-o-y decline in operating income in Q2-16 to $308 million from $341 million.  Adjusted operating income in the current quarter declined 36.9 percent to $217 million from $344 million in Q2-15. Time Warner says that operating income declined due to the decline in revenues, partially offset by lower associated costs of revenues due to the number and mix of film and videogames releases, a $90 million gain on the April 2016 sale of Flixster and lower film valuation adjustments.

  • Warner Bros’ Chad Kennedy joins Lionsgate as SVP current programming

    Warner Bros’ Chad Kennedy joins Lionsgate as SVP current programming

    MUMBAI: Lionsgate has roped in former Warner Bros. television director of current programming Chad Kennedy as SVP of current programming. His hiring represents Lionsgate’s increased presence in the scripted TV world. Kennedy will direct several reports focused entirely on current.

    “The scripted team in our television group has consistently turned out high quality, award-winning series on every platform, including broadcast, cable and streaming,” said Lionsgate EVP-television Chris Selak. “Chad’s experience working with critically acclaimed, fan-favorite series makes him the perfect fit for our existing team, which has done an incredible job of successfully shepherding all of Lionsgate’s series from conception to air.”

    Lionsgate’s scripted programming slate includes OWN’s recent breakout Greenleaf; Hulu’s dramedy Casual; Orange is the New Black, now entering its fifth season on Netflix; E!’s first scripted series The Royals, and Nashville, returning for its fifth season on its new home on CMT and Hulu.

    The studio also has upcoming comedy Graves, its first original series for Epix; the sci-fi anthology series Dimension 404, which begins streaming on Hulu this fall; Dear White People for Netflix, Lionsgate’s first series for YouTube Red, Step Up, and the anthology series Manifesto, the story of the hunt for the Unabomber for Discovery.

    A report reads that in the previous executive structure, SVP television Andy Richley and SVP development A.J. Morewitz, had been juggling both development and current. They now will focus squarely on development.

  • Warner Bros’ Chad Kennedy joins Lionsgate as SVP current programming

    Warner Bros’ Chad Kennedy joins Lionsgate as SVP current programming

    MUMBAI: Lionsgate has roped in former Warner Bros. television director of current programming Chad Kennedy as SVP of current programming. His hiring represents Lionsgate’s increased presence in the scripted TV world. Kennedy will direct several reports focused entirely on current.

    “The scripted team in our television group has consistently turned out high quality, award-winning series on every platform, including broadcast, cable and streaming,” said Lionsgate EVP-television Chris Selak. “Chad’s experience working with critically acclaimed, fan-favorite series makes him the perfect fit for our existing team, which has done an incredible job of successfully shepherding all of Lionsgate’s series from conception to air.”

    Lionsgate’s scripted programming slate includes OWN’s recent breakout Greenleaf; Hulu’s dramedy Casual; Orange is the New Black, now entering its fifth season on Netflix; E!’s first scripted series The Royals, and Nashville, returning for its fifth season on its new home on CMT and Hulu.

    The studio also has upcoming comedy Graves, its first original series for Epix; the sci-fi anthology series Dimension 404, which begins streaming on Hulu this fall; Dear White People for Netflix, Lionsgate’s first series for YouTube Red, Step Up, and the anthology series Manifesto, the story of the hunt for the Unabomber for Discovery.

    A report reads that in the previous executive structure, SVP television Andy Richley and SVP development A.J. Morewitz, had been juggling both development and current. They now will focus squarely on development.

  • Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    BENGALURU: Time Warner Inc., (Time Warner) reported 2.5 percent growth in revenues for the quarter ended 31 March 2016 (current quarter, Q1-16) at $7,308 million as compared to the $7,127 million in Q1-15. Revenues increased due to growth at Turner and Home Box Office, partially offset by a decline at Warner Bros.

    Total Operating Income increased 11.8 percent year-on-year in the current quarter to $1,996 million as compared to $1,786 million in the corresponding quarter of the previous year.

    Time Warner chairman and chief executive officer Jeff Bewkes said, ““We’re off to a terrific start to 2016, as we benefit from the investments we’ve been making in great content and new capabilities in order to take advantage of the growing demand for high-quality video content around the world. Revenues increased 3 percent and Adjusted Operating Income grew 11 percent to a quarterly record of $2 billion due to strong growth across all our operating divisions. In the past several weeks, we’ve seen Warner Bros. release its latest global hit in Batman v Superman: Dawn of Justice, setting the stage for what we expect to be a big year in film, with upcoming releases including Suicide Squad and Fantastic Beasts and Where to Find Them. In television, Warner Bros. continued to show its strength with three of the top five new shows on broadcast television this season among adults 18-49 and a record 21 renewals ahead of the upfront this year.”

    Bewkes continued, “Turner aired cable’s first ever NCAA Men’s Division I Basketball Championship game, and Turner and CBS entered into an agreement with the NCAA to extend their television, digital and marketing rights to the NCAA tournament through 2032. TBS ended the quarter as the #1 ad-supported cable network in primetime among adults 18-49 and its repositioning as cable’s premier network for young, fresh comedy is underway with the introduction of new programming including Angie Tribeca, Full Frontal with Samantha Bee and The Detour, the biggest new comedy on cable this year. With its must-watch coverage of the US presidential campaign, CNN continued to build on its success by more than doubling its primetime audience in the quarter. Meanwhile, HBO continued to make strides both inside and outside the traditional TV ecosystem, including expanding its OTT reach to new platforms and new international territories. And, more recently, HBO’s epic series Game of Thrones returned to record premiere night viewership. Further demonstrating our commitment to shareholder returns, we returned close to $1.3 billion to our shareholders through share repurchases and dividends year-to-date.”

    Turner

    Turner reported 7.2 percent YoY growth in revenues in the current quarter at $2,906 million as compared to $2,710 million. The segment reported 11.8 percent YoY increase in operating to $1,239 million from $1,108 million. 

    Revenues increased due to increases of 11 percent ($143 million) in subscription revenues and 5 percent ($56 million) in advertising revenues. Turner says subscription revenues increased due to higher domestic rates and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates and lower domestic subscribers. Advertising revenues benefited from domestic growth, primarily due to Turner’s news business, and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates.

    Home Box Office

    HBO reported YoY increase in revenues to $1,506 million in Q1-16 from $1,398 million in Q1-15. HBO operating income increased 4.1 percent to $477 million in the current quarter from $458 million in the corresponding year ago quarter.

    Revenues increased due to increases of 5 percent ($57 million) in subscription revenues and 23 percent ($51 million) in content and other revenues. Subscription revenues grew primarily due to higher domestic rates and subscribers. The increase in content and other revenues primarily reflected higher international licensing revenues, partially offset by lower home entertainment revenues.

    Warner Bros,

    Warner Bros. reported 2.8 percent YoY decline in revenues Q1-16 to $3,109 million from $3,199 million in Q1-15. Despite drop in revenue, Operating Income from the segment increased 30.9 percent in Q1-16 to $424 million from $324 million in the corresponding year ago quarter.

    Revenues decreased mainly due to lower theatrical revenues, partially offset by higher television and videogames revenues. Theatrical revenues declined as the prior year quarter included revenues from American Sniper and The Hobbit: The Battle of the Five Armies compared to the release of Batman v Superman: Dawn of Justice late in the current year quarter. Television revenues increased primarily due to higher international licensing revenues and higher initial telecast revenues. The increase in videogames was mainly due to Warner Bros. LEGO and Mortal Kombat franchises.

     

  • Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    BENGALURU: Time Warner Inc., (Time Warner) reported 2.5 percent growth in revenues for the quarter ended 31 March 2016 (current quarter, Q1-16) at $7,308 million as compared to the $7,127 million in Q1-15. Revenues increased due to growth at Turner and Home Box Office, partially offset by a decline at Warner Bros.

    Total Operating Income increased 11.8 percent year-on-year in the current quarter to $1,996 million as compared to $1,786 million in the corresponding quarter of the previous year.

    Time Warner chairman and chief executive officer Jeff Bewkes said, ““We’re off to a terrific start to 2016, as we benefit from the investments we’ve been making in great content and new capabilities in order to take advantage of the growing demand for high-quality video content around the world. Revenues increased 3 percent and Adjusted Operating Income grew 11 percent to a quarterly record of $2 billion due to strong growth across all our operating divisions. In the past several weeks, we’ve seen Warner Bros. release its latest global hit in Batman v Superman: Dawn of Justice, setting the stage for what we expect to be a big year in film, with upcoming releases including Suicide Squad and Fantastic Beasts and Where to Find Them. In television, Warner Bros. continued to show its strength with three of the top five new shows on broadcast television this season among adults 18-49 and a record 21 renewals ahead of the upfront this year.”

    Bewkes continued, “Turner aired cable’s first ever NCAA Men’s Division I Basketball Championship game, and Turner and CBS entered into an agreement with the NCAA to extend their television, digital and marketing rights to the NCAA tournament through 2032. TBS ended the quarter as the #1 ad-supported cable network in primetime among adults 18-49 and its repositioning as cable’s premier network for young, fresh comedy is underway with the introduction of new programming including Angie Tribeca, Full Frontal with Samantha Bee and The Detour, the biggest new comedy on cable this year. With its must-watch coverage of the US presidential campaign, CNN continued to build on its success by more than doubling its primetime audience in the quarter. Meanwhile, HBO continued to make strides both inside and outside the traditional TV ecosystem, including expanding its OTT reach to new platforms and new international territories. And, more recently, HBO’s epic series Game of Thrones returned to record premiere night viewership. Further demonstrating our commitment to shareholder returns, we returned close to $1.3 billion to our shareholders through share repurchases and dividends year-to-date.”

    Turner

    Turner reported 7.2 percent YoY growth in revenues in the current quarter at $2,906 million as compared to $2,710 million. The segment reported 11.8 percent YoY increase in operating to $1,239 million from $1,108 million. 

    Revenues increased due to increases of 11 percent ($143 million) in subscription revenues and 5 percent ($56 million) in advertising revenues. Turner says subscription revenues increased due to higher domestic rates and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates and lower domestic subscribers. Advertising revenues benefited from domestic growth, primarily due to Turner’s news business, and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates.

    Home Box Office

    HBO reported YoY increase in revenues to $1,506 million in Q1-16 from $1,398 million in Q1-15. HBO operating income increased 4.1 percent to $477 million in the current quarter from $458 million in the corresponding year ago quarter.

    Revenues increased due to increases of 5 percent ($57 million) in subscription revenues and 23 percent ($51 million) in content and other revenues. Subscription revenues grew primarily due to higher domestic rates and subscribers. The increase in content and other revenues primarily reflected higher international licensing revenues, partially offset by lower home entertainment revenues.

    Warner Bros,

    Warner Bros. reported 2.8 percent YoY decline in revenues Q1-16 to $3,109 million from $3,199 million in Q1-15. Despite drop in revenue, Operating Income from the segment increased 30.9 percent in Q1-16 to $424 million from $324 million in the corresponding year ago quarter.

    Revenues decreased mainly due to lower theatrical revenues, partially offset by higher television and videogames revenues. Theatrical revenues declined as the prior year quarter included revenues from American Sniper and The Hobbit: The Battle of the Five Armies compared to the release of Batman v Superman: Dawn of Justice late in the current year quarter. Television revenues increased primarily due to higher international licensing revenues and higher initial telecast revenues. The increase in videogames was mainly due to Warner Bros. LEGO and Mortal Kombat franchises.

     

  • HOOQ appoints Manish Kapoor as Brand Head, India Operations

    HOOQ appoints Manish Kapoor as Brand Head, India Operations

    MUMBAI HOOQ has appointed Manish Kapoor as the Brand Lead of its India operations. As the Brand Lead Kapoor will further push the company’s goals of getting India HOOQ’d by revolutionizing video-on-demand service landscape in India.

    HOOQ — a joint venture by Singtel, Sony Pictures Television and Warner Bros — will be leveraging Kapoor’s vast experience spanning over 15 years to drive the growth of the brand as a leading over-the-top video service in the region.

    Commenting on his new role, Kapoor said, “I am extremely excited be associated with HOOQ and lead its Brand Narrative in India . Over the Top is a very interesting Industry to be in and in my new role I look forward to creating exclusive brand experiences that will fuel the subscriber growth of HOOQ in the coming years”

    HOOQ India MD Salil Kapoor also added, “We’ve been scouring the country for the right person for this role. I’m delighted and extremely thrilled to have Kapoor on –board at HOOQ India. He is one of the most seasoned brand and marketing professionals. Kapoor brings with him a deep understanding of the Indian demographics that will help us co-create some interesting campaigns for our growing customer base at HOOQ. “

    Prior to HOOQ, Kapoor had worked with Havells India handling the entire group’s portfolio for 17 categories across three brands. He was also associated with JWT where he worked as the Associate Vice president and drove multiple brand portfolios such as Lay’s , Mountain Dew, Kurkure , Cheetos, Uncle Chipps, Timex , Central Parc, jeevansaathi.com, naukri.com , 99acres.com and Hero Motors.

  • HOOQ appoints Manish Kapoor as Brand Head, India Operations

    HOOQ appoints Manish Kapoor as Brand Head, India Operations

    MUMBAI HOOQ has appointed Manish Kapoor as the Brand Lead of its India operations. As the Brand Lead Kapoor will further push the company’s goals of getting India HOOQ’d by revolutionizing video-on-demand service landscape in India.

    HOOQ — a joint venture by Singtel, Sony Pictures Television and Warner Bros — will be leveraging Kapoor’s vast experience spanning over 15 years to drive the growth of the brand as a leading over-the-top video service in the region.

    Commenting on his new role, Kapoor said, “I am extremely excited be associated with HOOQ and lead its Brand Narrative in India . Over the Top is a very interesting Industry to be in and in my new role I look forward to creating exclusive brand experiences that will fuel the subscriber growth of HOOQ in the coming years”

    HOOQ India MD Salil Kapoor also added, “We’ve been scouring the country for the right person for this role. I’m delighted and extremely thrilled to have Kapoor on –board at HOOQ India. He is one of the most seasoned brand and marketing professionals. Kapoor brings with him a deep understanding of the Indian demographics that will help us co-create some interesting campaigns for our growing customer base at HOOQ. “

    Prior to HOOQ, Kapoor had worked with Havells India handling the entire group’s portfolio for 17 categories across three brands. He was also associated with JWT where he worked as the Associate Vice president and drove multiple brand portfolios such as Lay’s , Mountain Dew, Kurkure , Cheetos, Uncle Chipps, Timex , Central Parc, jeevansaathi.com, naukri.com , 99acres.com and Hero Motors.

  • 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.