The Home Box Office service began using satellite in 1974 and was profitable in 1975, in 2014 “subscription revenues increased 4% to $4.9 billion of dollars. Operating profit jumped 8% over the past year, to $1.68 billion. Netflix, meanwhile, reported revenues of just under $4.4 billion last year, with an operating profit of $228 million” (Bachman, 2014). People Magazine was launched in 1974, Time Inc. purchased Warner Communication in 1989. It created the largest media conglomerate in the world with revenues of $10 billion. In 1993, it became the first magazine company to have an online presence. In 1995, Time Inc. purchased Turner Broadcasting System for $7.5 billion, including CNN. Then, in 2000, it merged with AOL in a deal worth $350 billion right before the dot.com crash. The AOL-Time Warner merger was the worst merger in business history due to the sheer loss of billions of dollars in shareholder value. In March 2013, Time Warner spun off Time Inc. HBO remained with Time Warner after Time Inc. was spun off. In 2014, Time Inc. went public on the NYSE as an independent company. To date, Time Inc. has “over 90 brands. 50 global offices. Millions of loyal consumers” (TimeInc, 2015). Time Inc.'s print products reach more than 120 million readers each month. The U.S. multiplatform digital audience reached an all-time high of 111.5 million in April 2015, up 38% year over year. In the last year the videos have generated more than 1 billion views. The global social audience has increased to more than 145 million as of March 31, 2015, and interest in live events, which attracted hundreds of thousands of attendees in 2014, continues to increase. Nearly half of the U.S. adult population interacts with one of Time Inc.'s brands.