The CEO of AT&T took a swipe at Netflix, a company that he is now in competition with after AT&T’s purchase of Time Warner.
CNBC quotes Randall Stephenson, speaking at the Goldman Sachs Communacopia Conference, saying: “I think of Netflix kind of as the Walmart of [subscription video on-demand services]. HBO is kind of the Tiffany.”
CNBC notes that AT&T, which now owns HBO, “has been touting its new media assets and digital content portfolio since closing its acquisition of Time Warner earlier this summer.”
The report adds: “AT&T executives have privately said HBO will need to get bigger and broader in order to build subscriber base.”
Stephenson is quoted saying Tuesday: “We think we have as good a portfolio of premium content as anybody in the industry. In terms of long form, Warner Brothers has an [intellectual property] library that is like few others that we can conceive of, candidly.”