In an interview on CNBC, Tim Armstrong, the CEO of AOL Inc. (NYSE:AOL), has discussed about the future of his company, and commented on the fallout of the deal between Time Warner Inc (NYSE:TWX) and Twenty-First Century Fox Inc (NASDAQ:FOXA). Even if AOL Inc. (NYSE:AOL) missed the Wall Street estimates in terms of earnings per share, Tim Armstrong appears to be contended with the company’s performance. Armstrong said that the last quarter marked sixth consecutive revenue growth quarter along with a robust consumer growth of 18%. Armstrong also revealed that the consumers are increasingly consuming online media on multi-platforms and he views that the future of the media and advertising companies will be highly dependent upon consumer changes.
“What consumers are doing these days, they are all using multiple devices. So, when you think about multi-platform usage of media, all the way from mobile phones to over the top TV. AOL, Inc. (NYSE:AOL) is one of the largest providers of content and advertising for the multi-platform world,”said Armstrong.
At the same time, premium content and AOL, Inc. (NYSE:AOL)’s leading efforts in the digital worldis the two divisions that are helping the company record tremendous growth. According to Armstrong, the company has reached a new level through its association with ‘The Huffington Post.’
“What people really want and love is they want a mega-trend of sight, sound and motion in digital. They want to be served in all languages in all countries. And the digital platforms are erasing the barriers between the devices and between the companies really, in terms of serving content,” he added.
Meanwhile, Armstrong also suggested that AOL, Inc. (NYSE:AOL) will announce some exciting things this fall, which includes format changes in the next version of ‘The Huffington Post,’ more video programming along with changes in AOL’s core services.
“I think that the Time Warner Inc (NYSE:TWX) and Twenty-First Century Fox Inc (NASDAQ:FOXA) deal points to one specific thing, which is a value of content in a world where devices are getting faster and networks are getting faster and people are going to consume more content. I don’t know the deal mechanics there, but I do know the fact that deal was proposed and some of the other deals that have happened last few weeks points out to the fact that our strategy has been dead on into the future that people are going to consume more high-quality content over more devices, more networks and the advertising business and subscription business will be really big businesses in the future,” Armstrong said regarding the fallout of Time Warner Inc (NYSE:TWX)’s takeover attempt from the Twenty-First Century Fox Inc (NASDAQ:FOXA).