Time Warner CEO Jeff Bewkes continues to deny the existence of a large cord-cutting movement, but reported an increase of HBO subscribers today in a quarterly earnings call. According to AllThingsD, Bewkes said that the total number of HBO and Cinemax subscribers has topped 100 million — an increase of at least seven million since the end of last year — and that HBO specifically would end this year with more subscribers than last. The earnings report shows a six percent increase in subscription revenue from TV networks since last year, which the company attributes mostly to higher domestic rates, but partially to a larger number of HBO subscribers.
HBO is thriving, despite criticism from many sides for not offering a standalone HBO Go subscription option and reports that one of the network's most popular shows, Game of Thrones, is on track to be the most pirated show of 2012. In today's earnings call as transcribed by AllThingsD, Bewkes denied the existence of a large number of cord-cutters, saying "the whole idea that there's a lot of people out there who want to drop [paid] TV, and just have a Netflix or an HBO — that's not right. Look for the data, you won't find them." Instead, Bewkes said that the opportunity lie with "tens of millions of homes" that have cable but aren't yet HBO subscribers. HBO may be ignoring a potentially large source of revenue by refusing to offer a standalone HBO Go subscription, but its business model thus far continues to prove successful.