Jeff Bewkes delivered a provocative and direct message when he sat down with Business Insider’s Henry Blodget Wednesday at the Ignition conference to discuss the future of television. Blodget probed Time Warner’s Chairman and CEO about how technology is affecting the television business model. Bewkes replied that the industry’s health and outlook are strong, and kicked off the conversation by saying, “TV is taking over the internet - not the other way around.”
Time Warner has been leading the industry is rolling out TV Everywhere versions of its networks—giving subscribers access to more and more programming across all digital devices, and with more shows available on demand, without asking people to pay for their favorite content a second time. While some may say that the industry feels threatened by new digital services and devices that change the way people consume content, Bewkes said that Time Warner embraces these new entrants who can offer new and innovative ways to deliver storytelling to consumers.
“Here’s a better business than the internet – television,” Bewkes told Business Insider’s Ignition conference.
Watch a clip of the conversation above.
In response to Blodget’s questions about what will happen to TV with more people turning to the internet to watch their favorite shows, Bewkes pointed out that you can’t get the best or freshest content online if you don’t subscribe. And he noted that while new outlets are beginning to invest in creating and acquiring original content, Time Warner’s television businesses are currently investing $5 billion a year on programming.
Bewkes went on to explain the ease of being able to watch Time Warner’s shows online though its websites and apps like HBO GO. “You pull it up on your tablet, look for what you want and watch those shows. That’s how you find them and that’s why the networks are so valuable. And you don’t have to pay to get your show on-demand. It could not be better.”
Watch the full interview below.