Time Warner Launches New Digital Film Service UltraViolet

Time Warner (NYSE:TWX) has launched UltraViolet, a new cloud-based digital film service that’s device independent, allowing users to watch movies on a device of their choice. The service has the blessings of most of the big movie studios, retailers and consumer electronic groups.

Jeff Bewkes, Chief Executive, Time Warner, stressed in an interview that the service would address the need for consumers to build their own libraries of films, making it “convenient, easy and reasonably priced.”

UltraViolet comes when Time Warner is facing a slump in home entertainment sales with DVD sales declining and consumers not exactly falling over themselves to buy content from Apple’s (NASDAQ:AAPL) iTunes store or other providers such as Netflix (NASDAQ:NFLX). The company also plans to charge a small fee for providing users a digital copy of movies they already own on DVD.

Here’s how these stocks are trading:

Time Warner Inc. (NYSE:TWX): TWX shares recently traded at $34.61, up $0.04, or 0.12%. They have traded in a 52-week range of $27.62 to $38.62. Volume today was 1,718,356 shares versus a 3-month average volume of 8,289,020 shares. The company’s trailing P/E is 13.14, while trailing earnings are $2.63 per share.

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $391.21, down $1.8, or 0.46%. They have traded in a 52-week range of $310.50 to $426.70. Volume today was 3,716,492 shares versus a 3-month average volume of 19,210,000 shares. The company’s trailing P/E is 14.13, while trailing earnings are $27.68 per share.

Netflix, Inc. (NASDAQ:NFLX): NFLX shares recently traded at $68.50, down $1.62, or 2.31%. They have traded in a 52-week range of $62.37 to $304.79. Volume today was 2,098,438 shares versus a 3-month average volume of 10,061,200 shares. The company’s trailing P/E is 15.57, while trailing earnings are $4.40 per share.