By Ryan Nakashima, Business Writer
LOS ANGELES (AP) --Fans of superhero shows based in the DC Comics universe like "The Flash," ''Arrow" and "Gotham" might have to wait a lot longer for past seasons' episodes to come to Netflix and Hulu.
Jeff Bewkes, the chief executive of DC-owner Time Warner Inc., told analysts on a conference call Wednesday that the company is considering whether to let online services like Netflix have its shows several years after they first air, rather than one year later. He said that could mean more older episodes are available on-demand to traditional cable customers.
Withdrawing shows from online services would make traditional cable and satellite TV packages more attractive. Time Warner is focused on "delivering even more value to consumers, especially those who subscribe to the traditional bundle," Bewkes said.
There are eight DC-based shows on TV right now, including newcomer "Supergirl," which launched on CBS last week. You can currently access many of the previous seasons of established DC Comics shows, up until the last season, on Netflix and Hulu.
Analyst Anthony DiClemente of Nomura Securities said Time Warner is reacting to the growth of Netflix as a power in the TV industry.
"Some of the media executives are looking at Netflix as a digital distributor who has gained too much power," he said. "They are thinking, look, maybe we should keep our most valuable content inside the traditional pay TV ecosystem, which is the golden goose."
DiClemente speculated that satellite and cable TV providers like DirecTV and Comcast could soon be able to offer back episodes for the entire current season to customers in on-demand libraries, rather than just the most recent five episodes.
Time Warner also spooked investors wary that growing numbers of people are skipping a traditional cable subscription. It said U.S. subscribers of its Turner networks such as CNN, TNT and TBS fell a worse-than-expected 1 percent this year, and it expects a similar decline next year.
The comments came after Time Warner Inc. reported third-quarter earnings early Wednesday that disappointed investors.
While revenue grew 5 percent to $6.6 billion, topping the $6.5 billion expected by analysts polled by FactSet, and adjusted earnings of $1.25 beat predictions of $1.09 per share, its earnings outlook of $5.25 per share for fiscal 2016 fell short of expectations for $5.60.
The company blamed foreign exchange headwinds and greater investment in programming for the forecast shortfall.
Time Warner shares fell $5.10, or 6.6 percent, to close at $72.20 Wednesday. Its shares have fallen more than 15 percent this year.
“Scandal” cast will reunite for online script reading for hurricane relief in western North Carolina
The cast of ABC's hit political drama "Scandal" may need to brush up on their snappy, speedy delivery known as "Scandal-pace," because they're reuniting for a good cause. Its stars including Kerry Washington, Tony Goldwyn and Bellamy Young will take part in a live virtual script reading on Nov. 17 to raise money for hurricane relief in western North Carolina.
Beginning Friday, fans can go online and donate to reserve a spot for the online reading. Proceeds will benefit United Way of North Carolina. Everyone who donates will be able to take part in a virtual pre-event with the cast and Shonda Rhimes will give an introduction.
Additional guest stars will also be announced. The online fundraising platform Prizeo is also holding a contest where one person who donates online via their site will be selected to read a role from the script with the actors. The winner should not worry about the "Scandal"-pace, assured Young over Zoom.
"Whomever the lucky reader is can read at whatever pace they want," she said.
Young, who played Mellie Young, the first lady and later Republican presidential nominee on "Scandal," was born and raised in Asheville, North Carolina. She came up with the idea for the effort with a friend and took it to her fellow "Scandal" actors, who all jumped on board. Young said this is the first script reading the cast has all done together since the show ended after seven seasons in 2018.
Which episode they will be reading has not been announced yet.
Young said it's "been devastating" to see so many parts of her hometown badly damaged by Hurricane Helene, which ravaged western North Carolina one month ago.
To research the best use for donations, Young spoke with numerous political leaders, including North... Read More