CBS Nearly Doubles Operating Profit - Partial Credit Goes to Streaming

Posted Thu Aug 4, 2011 at 09:00 AM PDT by Dick Ward

Netflix and Amazon deals helped CBS increase their income by 97 percent.

Movie studios and broadcasters often point to streaming content as something that will eventually be the downfall of the whole industry. Cheap and even free access to content is a worrying trend for them, but not for the folks at CBS.

Last year, CBS brought in $440 million, which is nearly double the $223 million brought in the previous year. A good chunk of that income came from streaming services like Netflix and Amazon streaming deals.

The secret to working with streaming services, according to CEO Les Moonves, is to work with shows that no longer have value to the company. We have three ‘CSI’ [programs] that are now on the air and aren’t part of these Netflix deals or the Amazon deals." Moonves says that once they're off the air though, he expects the streaming money to start rolling in.

Source: Home Media Magazine

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Tags: Netflix, Streaming, CBS (all tags)