Leslie Moonves, CBS CEO, says the network is in no hurry to see its content on new OTT platforms like Google TV or Netflix. “People want our content. We’re going to be paid. We’re going to take our time making the right decision,” he told the annual UBS Global Media and Communications Conference.
Moonves referred to content as the “crown jewels,” and compared the meagre revenue available from new platforms to the millions of dollars collecting for advertising when major shows run on the network and the millions more available in syndication. CBS is enjoying a run of ratings hits and Moonves said a single episode of the NCIS franchise can garner $4 million in syndication.
“Maybe we haven’t jumped in as much as our competitors. Maybe because we’re doing better in the ratings. . . . they’ll take our content later. There’s no need to rush in…. some people see Netflix as the anti-Christ, others look at them as the second coming. We’re somewhere in the middle,” he said.
Moonves confirmed the recovery of the advertising market has been much better than the company expected, and he anticipated a very strong upfront selling season.