Jeffrey Bewkes is the Chief Executive Officer of the cable television giant Time Warner (TWC). TWC represents the second largest television market in the United States, trailing only Comcast. The two entertainment behemoths had signed a formal merger agreement to the tune of $45 billion. However, concerns about a monopolized market that would be detrimental to consumers resulted in a contentious legal battle that resulted in Comcast's termination of the agreement on April 24 of this year. Mr. Bewkes spoke to the rising tide of alternatives for consumers which influenced the venture to merge his company with Comcast. By addressing this concern, he provided insight into industry speculation that Apple will launch an online streaming service for TV entertainment.
"We think Apple is very forward-thinking about television," he said, noting the technology company's deal with Time Warner as the launch partner of streaming service HBO Now. "It's no surprise to anyone that Apple would be interested in launching a TV product."
One reason that the two broadcast conglomerates sought a merger has to do with the rising competition between traditional television service providers and online streaming alternatives. Companies like Netflix have made substantial gains, threatening convention cable programming mediums. With the success those companies have had, it stands to reason that Apple will soon emerge as their competitor.
Apple also recently announced its plans to develop a music streaming service that could rival that of Spotify. In doing so, the company hopes to return iTunes to its past glory. Streaming services for both music and television seem to be the future of entertainment. By developing apps to prepare for that apparent inevitability, the company hopes to sustain its success.
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