Time Warner (TWX) investors should be thrilled with the direction Arrow is taking in season 2, Fool contributor Tim Beyers says in the following video.

You wouldn't know it from the ratings. Viewership for the season 2 premiere fell 31% from last year's series opener as only 2.7 million fans tuned in. More important, Tim says, is the richness and variety of references to the wider DC Comics universe seen in the premiere.

From S.T.A.R. Labs to Brother Blood to a brief appearance by the heroine Black Canary, the episode "City of Heroes" suggests Time Warner is giving Arrow's creative team the space to explore new concepts and characters. It's this sort of experimentation that ultimately builds franchises, Tim asserts.

Do you agree? Have you been watching Arrow? Please watch the video to get Tim's full take and then leave a comment to let us know where you stand.