Premium content spurs Time Warner to accelerate revenues in Q1 2017 | Major Businesses | Business
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Time Warner Inc saw its revenues increase 6% to $7.7 billion for the first quarter of 2017, partially due to HBO posting record quarterly operating income and adjusted operating income.

oliver 3 aug july 2017Operating income grew 4% to $2.1 billion, and adjusted operating income grew 7% to $2.2 billion. “We’re off to a strong start to 2017, as we continue to benefit from the investments we’re making in the best content while also developing new revenue streams that will drive growth and meet consumer demand for great experiences built around their favourite programming and brands,” said chairman and CEO Jeff Bewkes.

Premium channel HBO shined in the quarter ended 31 March 2017  highlighted by our limited series Big Little Lies, which was both a critical and cultural breakout. Last Week Tonight with John Oliver is having its most-watched season to date, and the premium network recently had the much-anticipated returns of Silicon Valley and Veep.

Bewkes added that HBO wasn’t the only bright spot.“Warner Bros. delighted audiences in both film and television, with global hits in Kong: Skull Island and
The LEGO Batman Movie and more series across broadcast for the current season than any other studio,” he noted.

Turner also had another successful airing of the NCAA Division I Men’s Basketball Tournament across platforms, while CNN grew its total day ratings by 21% among adults 25-54, and remained the leader in digital news. Together, Turner and Warner Bros also launched our new Boomerang-branded SVOD service.

“Looking ahead, we remain on track, pending completion of regulatory reviews and receipt of consents, to close our merger with AT&T before the end of 2017,” Bewkes said. We remain excited about the potential for this combination to accelerate the pace of innovation in our businesses.”