Time Warner (TWX) CEO Jeff Bewkes isn't scared of Netflix (NFLX) - Get Report , no matter what the media or investors think of HBO's chief rival.

In a talk Tuesday at an investor conference hosted by UBS, Bewkes was quick to add that he doesn't underestimate Netflix, or its CEO, Reed Hastings, either.

"We do not underestimate anyone with a giant checkbook, but HBO has adequate budget of $ 1billion a year to get content to grow," Bewkes said. "We try to have quality in every genre -- it's not a birthright to have it, you have to earn it and we have plenty of resources there."

Bewkes highlighted the fact that HBO has the biggest slate of new theatrical movies anywhere in the world, in addition to HBO original programming, like the recent U2 concert, sports shows, mini-series, dramas and comedies.

"HBO has thousands of hours of programming," Bewkes said in reference to a question at the UBS media investor conference that HBO's library of content may be smaller than some of its competitors, including the aforementioned Netflix, which recently said it would have 31 original series next year, up from 16 in 2015.

As Netflix, HBO, Hulu, Amazon (AMZN) - Get Report Prime and other services continue to race for subscribers, in some cases, many of them overlapping, Bewkes spoke glowingly about HBO's own programming, which won a record 43 Emmy Awards earlier this year after being nominated 126 times. Bewkes rattled off new shows such as Vinyl, about the 1970s New York music scene , the sci-fi action thriller Westworld and Divorced, the latest series from Sarah Jessica Parker, who enjoyed enormous success on HBO with her hit comedy, Sex And the City.

In addition, 2016 will also see shows from sports personality

Bill Simmons

, the comedian

Jon Stewart

, a Vice news program and the latest season of

Sesame Street,

on top of the latest seasons of

Game of Thrones, Silicon Valley

and

Veep,

among several others

.

Bewkes also highlighted new distribution platforms coming in the first quarter of 2016, as it looks to grow its HBO Now service, a direct to consumer offering that doesn't require a cable subscription.

Next year will see the service come to Xbox and Playstation, with Bewkes noting that it will allow the Time Warner "to market more aggressively," as well as launch smaller bundles similar to Dish Network's (DISH) - Get Report Sling TV, which allows for an upsell of HBO and other channels. The Time Warner CEO also noted that HBO Now would be coming to Latin America early next year, mentioning Columbia directly, with more countries to follow.

Much of the discussion at the conference surrounded the so-called cable bundle, which allows consumers to pay for an enormous number of channels for one price.

The bundle has come under pressure in recent years, despite an 85%-90% penetration rate according to Bewkes, as consumers watch fewer channels, want to pay less for the service and want to watch the content how and when they want. On that front, Bewkes said he agreed with Apple (AAPL) - Get Report CEO Timothy D. Cook, who has said that traditional TV viewing is broken and that the transformation process has gone too slowly.

"We all see a huge change towards on-demand viewing and the fact that it's picking up speed is not surprising," Bewkes said, noting that "there's a tremendous advantage to having the right business and the right global brands." Under the Time Warner umbrella is Turner, HBO and Warner Bros., with Bewkes noting that those who navigate the current turmoil in the industry with the right brands "will help those in industry who navigate success."

Time Warner is reported to be in talks to acquire a stake in Hulu, and while Bewkes wouldn't comment on the speculation, he didn't rule out that Hulu could be part of a wider distribution for Time Warner shows and movies.