Since shedding Time Warner Cable and AOL in recent years, Time Warner Inc. is a pure-play content company built on pay TV subscriptions, TV and movie sales and advertising. Its results are indicative of consumers' attitude toward their discretionary income, but also help tell the tale of how technology is changing behaviors.
Time Warner CEO Jeff Bewkes spoke of the transition in a conference call with analysts Wednesday.
BEWKES: We're only two years into our life as a smaller, content-focused company. They've been two really good years, but I think our best years are ahead of us. The digital transition is driving higher usage across our businesses, and it's increasing the value of the high-quality content that we specialize in. New opportunities are opening up for us, technologically and geographically. We are focused on being able to capitalize on those opportunities, and we are in a better position than ever to do that.
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