“Time Warner Inc. chairman and CEO Jeff Bewkes said that fears that the rising cost of pay TV would price a growing number of consumers out of the multichannel universe have proven unwarranted, adding at an industry conference that the ay TV bundle is more attractive now than it has ever been.”
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It was fun for Jeff Bewkes to tease Netflix a couple years ago. But now he’s happy to take Reed Hastings’s money.
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Following the ‘wait-and-see’ approach to the UltraViolet digital film ownership initiative suggested by Disney CEO Bob Iger when discussing his company’s Q1 results, his Time Warner counterpart Jeff Bewkes has offered a much more positive assessment, suggesting that the company wouldn’t be against releasing UltraViolet titles earlier into the retail chain, provided there were safeguards in place against digital piracy.
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“Netflix loomed so large over digital distribution this year that its shadow may have obscured the emergence of a more diversified ecosystem feeding off of Hollywood content.
It was hard to escape the Los Gatos, Calif.-based streaming service in 2011, from the stratospheric growth of its subscriber base and stock price to a series of ill-advised strategic decisions that triggered the plunge of its market capitalization as well as acquisition rumors.
Even Hollywood got caught up in the drama, moving from the cold shoulder Time Warner topper Jeff Bewkes first gave the new competish to a warm embrace many congloms offered Netflix for ordering its first original series and signing a plethora of licensing pacts that rained revenue like manna to their bottom lines.”
Time Warner CEO Jeff Bewkes has been critical of Netflix’s ability to compete with traditional TV networks.
“In the past, Time Warner Chairman and CEO Jeff Bewkes might have been critical of Netflix’s ability to compete with traditional TV networks. But he has softened his tone lately, talking up the additional value that subscription video-on-demand services (SVOD) services like Netflix and Hulu Plus can provide to the company’s top line.”