Time Warner CEO Jeff Bewkes: 'Too Much Excitement' About Premium VOD

Time Warner Jeff Bewkes comes across as the media world’s most laid-back CEO. But he asked a lot this morning when he told movie theater owners to cool their jets about Premium VOD. “There’s been too much excitement about this,” Bewkes said at a panel discussion sponsored by investment firm Jefferies & Co. “Our interests are aligned.” That will come as a surprise to the National Association of Theater Owners and its members who loathe PVOD as much as the Tea Party hates taxes. Exhibitors say many would-be ticket buyers will wait to watch films at home as studios including Warner Bros begin to offer 8-week-old releases on cable and satellite VOD services for about $30 a showing. Bewkes says theater owners are wrong: “I’m saying (box office revenue) doesn’t go down.” Everyone will suffer, he says, if the studios can’t provide an alternative to pirates who sell bootlegged copies of recent movies to people who don’t want to wait for the official home video release. Other panel members — none of them exhibitors — supported Bewkes. CBS chief Les Moonves said that although theater owners are scared, “you have to change a bit.” And Sony Corporation of America CFO Robert Wiesenthal said that “everybody is experimenting and being aggressive,” even though studios should recognize that theaters are “the foundation of the economic value chain for a feature film.” (more…)

This article was printed from https://deadline.com/2011/05/time-warner-ceo-jeff-bewkes-too-much-excitement-about-premium-vod-130583/