Time Warner revenue increases by six per cent

MUMBAI: Media conglomerate Time Warner has announced that revenues increased for 2003 increased by six per cent over 2002 to $39.6 billion. This reflected increases at all segments except America Online.


Operating Income at AOL before depreciation and amortisation improved to $8.5 billion from a loss of $35.8 billion in the prior year. The fourth-quarter net profit of Time Warner was $638 million. A year earlier it lost $44.91 billion when it recorded a huge writedown of its America Online unit. Time Warner's Chairman and CEO Dick Parsons was quoted in a company release saying, "Our fourth quarter results were in line with our expectations, and we achieved all of our full-year financial objectives. We generated industry-leading levels of Free Cash Flow, demonstrating the health and vitality of our businesses.

"We also sharpened our focus on how we allocate capital across the company. In keeping with our strategy of deploying capital to only high-growth, high-return investments, we decided to sell our music business at an attractive price. We used the proceeds from all of our asset sales and our free cash flow to dramatically strengthen our balance sheet.

Once our sale of the Warner Music Group closes, we will have completed our net debt reduction programme essentially a year ahead of schedule. Our company exited 2003 substantially stronger than when the year began, and we enter 2004 with a real sense of enthusiasm. Our businesses are well positioned to extend their competitive leadership this year."

As far as the cable business was concerned Time Warner's basic cable subscribers increased at an annual rate of 0.1 per cent. Time Warner Cable added 602,000 net digital video subscribers during 2003. For the full year revenue from the television networks went up by 10 per cent. For the fourth quarter revenues from movies went up by 17 per cent.

For the full year, operating Income increased 22 per cent. This revenue growth was driven by the continued worldwide growth in DVD revenues, increases in television licensing revenues and worldwide theatrical success, led by Warner Bros. Pictures' The Matrix Reloaded and The Matrix Revolutions as well as New Line Cinema's The Lord of the Rings: The Return of the King.

Latest Reads
VIVO IPL: VIVO IPL on Star Sports register highest ever engagement

Revolutionizing the way, the world experiences VIVO IPL, Star India reimagined VIVO IPL in to a six-month fiesta instead of just a two-month tournament. Keeping fans at the heart of the experience, Star India used the confluence of technology, consumer insight, and experience in cricket coverage,...

Television TV Channels Sports
Abhishek Upadhyay joins &TV as marketing head

Abhishek Upadhyay, who headed marketing for OLX, has been appointed marketing head of &TV, the Hindi language GEC channel of Zee Entertainment Enterprise Limited (ZEEL).

Television TV Channels People
Saral Jeevan adds three new programs to its prime time offering

Saral Jeevan, a Kannada infotainment channel, is launching three shows today. While one of them is season two of Jnanapada (based on folk songs), the other two programs are based on factual content. With a focus on non- fiction programming like history, mythology, travel and insights from Indian...

Television TV Channels News Broadcasting
Discovery joins hands with BYJU’S for quiz show

Discovery Communications India and BYJU’S, the Learning App, has joined hands to launch a school quiz show called the Discovery School Super League.

Television TV Channels Factual & Documentary
Time Warner to be renamed Warner Media, Turner CEO exits

AT&T announced on Friday, its first full day of owning Time Warner, that the operating businesses in the $85 billion acquisition will be contained in an entity called WarnerMedia. The names of the operating units - HBO, CNN, Warner Bros., TNT, etc. - will stay the same.

Television TV Channels People
This special musical video follows Bani J tirade against trolls as a part of ‘Trolled’ series on RISE by TLC

After a power packed punch by Bani J to the misogynistic trollers, comedy sensation Mallika Dua is all set to fire back with her quirks and wits and show the internet hate its place. This will be the second short format music video under the ‘TROLLED’ series and will premiere on Rise by TLC, a...

Television TV Channels Factual & Documentary
Sports dominated OOH viewership in April-May: BARC

Contributing more than half of the total TV viewership during the April-May period, the sports genre topped charts in Broadcast Audience Research Council (BARC) India's Out of Home (OOH) measurement report. Sports accounted for 70 per cent of viewership, while movies and music enjoyed 10 per cent...

Television TV Channels Viewership
News18 Network launches multimedia campaign to strengthen its position

MUMBAI: News18 Network, has announced the launch of its mega campaign 18=1. The Network, which once comprised of channels such as CNN-IBN, ETV, IBN7 and IBN-Lokmat, recently consolidated all its general news channels under the News18 Brand. This has allowed the Network to develop one, seamless...

Television TV Channels News Broadcasting
Guest column: TV Analytics on Colors Tamil

Viacom’s entry into a new regional market with channel Colors Tamil has made big news since its launch in February this year. With its sampling phase for content still running, the channel’s performance has a dynamic impact on the regional television landscape. We studied the key viewership...

Television TV Channels Regional

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories