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Time Warner, which is in the middle of an acquisition by AT&T, saw an 11 per cent jump in revenue to $7.89 billion (€7.38bn) for the three months to the end of December as it reported gains at each of its three main divisions — Turner, Warner Bros and HBO.
HBO’s SVoD service HBO Now has surpassed 2 million subscribers in the US. Sales were up 6 per cent to $1.5 billion on the back of higher rates and subscription. The network also launched its streaming service in Spain, Brazil and Argentina in the quarter, and had been added to distribution platforms including Amazon Prime and Samsung smart TVs in the US.
Time Warner also beat estimates in the fourth quarter thanks to its Turner television networks — including CNN, which had a record year, largely due to the US presidential election — and good box office for Warner Brothers movies.