distributors should do more in establishing video-on-demand services, according to Jeff Bewkes of Time Warner.
Speaking to CNBC after his appearance at the UBS media conference, Bewkes,
chairman and chief executive officer of Time Warner, says: “Video on demand [VOD] is the most important advance in television. It’s important to everyone. It’s happening on the
Internet; it’s happening in your living room.”
Bewkes says Time Warner’s efforts around VOD are the biggest of all media companies: “They are going to make more
money, and we are going to make more money.”
When asked whether cable operator consolidation would help further that VOD business along, Bewkes said: “If the companies that are
growing by consolidation are offering [VOD] to consumers, that would be a good thing.”
He said all this takes “energy” -- and money. But Time Warner is doing its part.
“We like to encourage those that are doing this... We have given [those companies] the rights and we haven’t charged extra.”
When asked about low-cost competition from
Netflix or Amazon Prime -- especially in regard to Time Warner’s HBO, which they have been compared with -- Bewkes said: “These things go together. HBO households love Netflix; Netflix
homes watch more HBO than any other households. They are different but complementary.