Businessweek

estically and internationally for distribution in various windows on broadcast and cable networks and premium pay television services, and also distributes its films on DVD and Blu-ray Discs and through digital retail services for ownership and rental. In the U.S. and most major international markets, Warner Bros. has generally released all films simultaneously for sale on DVD, Blu-ray Disc (including, for new release titles, an UltraViolet digital copy), and through VOD and EST (download to own). In 2012, Warner Bros. began releasing some of its films in EST approximately two weeks in advance of their release on DVD, Blu-ray Discs and VOD. Warner Bros. generally releases newly produced films to brick and mortar retailers and by-mail and kiosk rental services 28 days following their release to other home entertainment channels. Following the release of newly produced films in the home entertainment window, Warner Bros. licenses its newly produced films, as well as films from its library, for distribution in various windows to broadcast and cable networks and premium pay television services both domestically and internationally, including the company’s networks and premium pay and basic tier television services and, in most cases, other exhibitors, such as airlines and hotels. Warner Bros. also selectively licenses feature films for exhibition online in the U.S. and internationally to subscription video on demand (SVOD) services, such as Amazon, Netflix, Hulu and LOVEFiLM. Warner Bros. has a film library consisting of rights to approximately 6,000 feature films previously released by Warner Bros. and other studios. Television Warner Bros. Television Group (WBTVG) operates in the television production and distribution business in the U.S. and internationally. WBTVG’s production and development slate in the U.S. includes scripted television series, reality-based entertainment shows, first-run syndication series and animation programs. WBTVG licenses its television programming for initial exhibition on traditional broadcast and cable networks, including the company’s networks. In most cases, these initial licenses to broadcast and cable networks also permit the networks to distribute WBTVG shows on various network-branded on-demand platforms during the season. Subsequent to initial broadcast exhibition, WBTVG distributes its television series across various secondary windows, including through traditional off-network syndication and to SVOD services. Television series developed in the U.S. are also licensed to networks in international territories. Similar to the arrangements in the U.S., these initial licenses allow for both traditional network exhibition and various on-demand rights. In certain territories, WBTVG also licenses its U.S. content to SVOD services for on-demand exhibition. WBTVG’s business relies on its production, development and distribution expertise and scale. Its programming is primarily produced and developed by Warner Bros. Television (WBTV), a division of WB Studio Enterprises Inc. WBTV produces scripted comedy and dramatic television series for initial primetime exhibition on broadcast and cable networks. For the 2012-2013 season, WBTV programs airing on The CW include returning series Gossip Girl, Hart Of Dixie, Nikita, Supernatural and The Vampire Diaries, and new series Arrow, The Carrie Diaries and Cult. For the 2012-2013 season, WBTV is producing returning series 2 Broke Girls, The Big Bang Theory, Fringe, The Mentalist, The Middle, Mike & Molly, Person of Interest, Suburgatory and Two and a Half Men for third party broadcast networks, as well as new series, which include The Following and Revolution. WBTV also produces original series for cable networks, including Major Crimes and Southland for TNT. Warner Horizon Television Inc. (Warner Horizon) specializes in non-scripted programming for broadcast and cable networks, as well as scripted original programming for cable networks. For the 2012-2013 season, Warner Horizon is producing non-scripted series, including The Bachelor and The Voice airing on third party broadcast networks, and made-for-cable scripted original series, including