Warner Bros. Studios parent Time Warner Inc. plans in the coming months to aggressively dive into digital sales of new movies and TV shows, pushing into a new arena as DVD sales tail off.
On Wednesday, Time Warner Chief Executive Jeff Bewkes discussed plans for "TV Everywhere" in announcing third-quarter results for the media giant, owner of HBO, Time Inc. and Burbank-based Warner Bros.
Revenues were up 2% in the third quarter of 2010, reaching nearly $6.4 billion, largely due to a better television and print advertising market, according to the company. Profits declined from $662 million to $552 million, a 10% decrease.
Filmed entertainment revenues were flat at $2.8 billion. The Leonardo DiCaprio thriller "Inception," filmed partially on the Burbank set, made $800 million at theaters around the world, Bewkes said. He added that new cable television shows, including "Boardwalk Empire" and "Rizzoli & Isles," were among the winners for the company.