CEO Leslie Moonves Says CBS is Prepared for Cord Cutting




CBS is taking cord cutting seriously and feels that they are well positioned for it.

According to the CEO of CBS Leslie Moonves, CBS saw dramatic growth in subscription fees for CBS All Access and Showtime. CBS also reported that revenue from “skinny bundles” (services such as DIRECTV NOW, Hulu, and PlayStation Vue) saw solid growth.

When asked about cord cutting and more Americans becoming cord cutters, Moonves said, “We’re ready for them… We welcome that.” Moonves went on to say that cord-cutting offers a “real, measurable upside for us … cord-cutting is an opportunity.”

According to CBS they get about triple the revenue from CBS All Access users than traditional pay-TV or over-the-air TV subscribers. Moonves went on to say CBS makes twice the per-subscriber revenue on skinny bundles than it does on a traditional pay-TV bundle.

The news that new streaming options are more profitable leaves many to wonder if digital and new streaming options are so much more profitable if networks such as CBS will quickly push to get their content out there in new ways; however, for now CBS seems dedicated to supporting traditional pay-TV services.

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