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John Martin, CEO of Time Warner Inc (NYSE: TWX)'s Turner Broadcasting, addressed a New York town hall on Wednesday, and looked into the company’s TV assets, which not only include HBO, but also other renown channels like CNN and TNT.
The CEO said these assets could see a marked surge in revenue and reach soon. According to the New York Post, Martin said that a number of big companies, including Turner, “are exploring the idea of delivering skinny TV bundles.” In fact, Turner will be launching several new businesses, like subscription-video offerings. It’s not all about HBO, he said.
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Turner accounts for roughly 58 percent of Time Warner’s $6.8 billion in operating profits, and its plans to enter the consumer business might take this figure higher.
Back to skinny TV bundles, Martin explained that they “might be an offshoot of one of the companies network or a brand extension aimed at superfan willing to pay for a subscription service,” B&C said.
“TV is acting more like digital. Digital is acting more like TV. The winner is going to be TV because of the quality of content and the reach TV generates,” Turner’s president David Levy added.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.