Time Warner’s 2017 revenues were up 7 percent to $31.3 billion, while Q4 revenues increased by 9 percent to $8.6 billion, powered by gains across all of its divisions.
“We had another very successful year in 2017, achieving our financial goals thanks to the great creative and programming excellence across Time Warner,” said Jeffrey Bewkes, chairman and CEO. “All three of our operating divisions increased revenue and profits while also investing to capitalize on the growing demand for the most creative and compelling content as well as new ways to deliver it to audiences worldwide.”
Bewkes noted that Warner Bros. had its best year ever at the global box office with its films grossing over $5 billion and said that the studio “remains the number one supplier of television shows for the broadcast networks.” HBO “delivered its highest increase in domestic subscribers ever in 2017 and its best subscription revenue growth in over 20 years,” Bewkes said, also touting the ratings at the Turner portfolio.
“We remain excited about the proposed merger with AT&T, pending judicial review, and the potential to accelerate our pace of innovation and connect more directly with consumers.”
Turner’s revenues were up 6 percent in the year to $12.1 billion, with subs revenues up 13 percent and content and other revenues up 11 percent. Ad revenues were down 2 percent. Q4 revenues were up 10 percent to $3.1 billion, with gains in subscription revenues (14 percent), content and other revenues (32 percent) and advertising (2 percent).
HBO recorded full-year revenues of $6.3 billion, a 7 percent gain, with an 11 percent hike in subscription revenues partially offset by a 10-percent reduction in content and other revenues. In the fourth quarter, revenues were up 13 percent to $1.7 billion, with subs revenues up 16 percent and content and other revenues down 7 percent as a result of lower international licensing revenues.
At Warner Bros., full-year revenues were $13.9 billion, with the 6-percent gain driven by growth in theatrical, television and games revenues. In Q4, the 5-percent revenue gain to $4.1 billion was led by higher games revenues, with theatrical revenues down in the period.