CBS: 'Broadcast In Better Shape Than Cable'

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CBS CEO Les Moonves tells analysts it will top $1 billion in retrans by 2017 and pass $2 billion by 2020. And if he remains bullish on broadcast, his enthusiasm bubbles over when it comes to digital. "Broadband offerings will continue to drive growth." Moonves and Joe Ianniello, COO, both touted the growth of Showtime over-the-top and CBS All Access. "Every million subs (for Showtime OTT) equals $100 million of profit," Ianniello said. The executives sidestepped giving specifics about CBS All Access but thanks to recent deals with stations groups including Sinclair and Nexstar, CBS appears to be on track to hit 1 million CBS All Access subscribers before year end. "Relations with affiliates remain very strong," Moonves said. "Basically, we're going to have the entire country before too long."

Nonetheless, CBS will pursue distribution opportunities that don't necessarily include affiliates. Despite the lackluster broadcast advertising environment, Moonves remains upbeat. "Proof of purchase by the Internet is not yet there as it is on broadcast," he said. "Most industries will not veer away from broadcast. "We still feel very bullish. There's a reason year after year our CPMs go up -- broadcast is in better shape than cable."


CBS: 'Broadcast In Better Shape Than Cable'