Time Magazine 2011 Annual Report Download - page 13

want them in a way that enhances value for both consumers
and us. Our viewers and readers asked for choice, ease of
use, mobility, and portability – in fact, they demanded
it. We listened and are making it happen. And we’re doing
it in a way that provides value for both our customers
and our company.
At our networks businesses, this means TV Everywhere.
The idea is that if you already pay for a network through
a cable, satellite, or telephone provider, you should have
access to it on demand and on any device, such as tablets,
smart phones, and connected TVs. In fi lm it’s UltraViolet,
which is designed to jumpstart the home video industry
by providing consumers who purchase a DVD with a digital
cloud copy that is accessible on a wide range of devices.
And at our publishing business it’s what we call All Access,
which allows consumers to enjoy their favorite magazines
in print, on tablets, and online, all for one price.
A year ago, all these initiatives were just starting to
roll out. Today, almost 80 million U.S. households can
access Turner content through TV Everywhere, including
streaming versions of CNN and HLN. HBO GO, which
launched last May on mobile devices, is one of the best-
received apps and is now available to essentially all of
HBO’s domestic subscribers as well as several international
territories. Last fall, Warner Bros. was the fi rst studio to
release UltraViolet-compatible DVDs and make them
accessible to consumers through its Flixster service. And
Time Inc. became the fi rst publisher to make all its U.S.
titles – 21 in all – available in tablet form.
So, we’ve made great strides. In a short time, we’ve
reinforced our position as a leader in the industry and
a company that gives consumers what they want. But
we’re not satisfi ed. We want to do even more and push
even harder. The next phase for Content Everywhere
will be making it easier to use and more widely available,
and enabling and encouraging more customers to take
advantage of these new services. We’ll also work to
give advertisers even more tools to measure the value
we provide. We’re very excited about the future of
these initiatives.
Refl ecting our confi dence in our competitive position
and our commitment to continue improving returns,
in early 2012, Time Warner’s board authorized an 11%
increase in our quarterly dividend (the third increase in
three years) and $4 billion in additional share repurchases.
For the remainder of 2012, we again plan to increase
investments in our businesses, which we’ll fund in part
by continuing to aggressively manage our overhead costs
and seeking effi ciencies across the company.
As we do all this, we remain focused on our basic
beliefs in journalistic integrity, freedom of expression,
and responsible content. And we are committed to telling
stories from a range of viewpoints that resonate with an
even more diverse and global audience. By aligning
ourselves with these beliefs, we’re able to drive the growth
of our businesses in a responsible and ethical manner,
strengthen our reputation, and help create a better connected
and well-informed world. On behalf of all of Time Warner’s
employees, I thank you for the trust you’ve placed in us.
We’ll continue to work hard on your behalf to earn
that trust.
Jeff Bewkes
Chairman and CEO
March 23, 2012
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