Below are my key takeaways from the Time Warner Q2 2016 Earnings Call on Aug 3:
Jeff Bewkes, CEO, said ‘we are well on our way to exceeding 2016 goals’.
Total revenue fell 5% to $6,952MM, from $7,338MM in Q2 2015. Warner Brother’s 19% decline to $2,658MM was the main factor. Last year was hard to replicate with San Andreas and Mad Max: Fury Road in theaters, American Sniper and The Hobbit on DVD, Batman: Arkham Knight in gaming, and The Big Bang Theory and Seinfeld in syndication. Turner increased 6% to $3,010MM due to increases in subscription and advertising revenues, and HBO grew 2% to $1,467MM.
Agreed to buy a 10% stake in Hulu, which will allow Turner cable networks to be shown on Hulu’s planned live and on demand video streaming service coming in 2017.
Received 148 Emmy nominations, more than any other company. HBO led the way with 94, the most for any network for the past 16 years. TNT and TBS finished as the two highest rated ad-supported cable networks in primetime among 18-49 year olds.