CBS Fights for Attention with a New Streaming Digital Product
As the technology industry evolves, more television networks are facing the challenge of securing viewers whose concentration is often absorbed elsewhere. Studies have shown that U.S. audiences are still watching the news and tuning into their favorite primetime shows, but their attention is now largely divided, and you can find many of them on the couch with a smartphone or tablet in their laps.
Networks are catching on to the trend, and though they can’t stop it, they’re ready to capitalize on it. Bloomberg reports that CBS Corp. (NYSE:CBS) is one such network that is ready to jump on the bandwagon: The company is rumored to be testing a new type of news packaging that it hopes will help it take advantage of the obsession with mobile.
Bloomberg Businessweek reports that CBS is working to launch a streaming digital product that could deliver CBS News‘s content directly to mobile phones and streaming devices likes Apple (NASDAQ:AAPL) TV, Roku, Microsoft’s (NASDAQ:MSFT) Xbox, and Sony’s (NYSE:SNE) Playstation. Mirroring what ESPN (NYSE:DIS) has already done with sports, CBS News believes that consumers will show an interest in having the nation’s news right at their fingertips via an app, and the New York-based company is now just looking to find an interested partner that agrees.
CBS believes that it will be the first to take advantage of the new digital platform, because although competing news organizations like CNN (NYSE:TWX) and Fox News (NYSE:FOXA) have offered news videos on their websites, none have floated the idea of launching an around-the-clock app that is constantly updated with the latest news.
It’s understandable why CBS wants to fill the hole it sees in the current digital marketplace, identifying as the gap as a major growth opportunity for the company, but the network will still need to combat other Web portals that currently monopolize users’ attention – Twitter (NYSE:TWTR) and Facebook (NASDAQ:FB), for example.
Nevertheless, rumors continue to circulate that the new CBS service could be launched in just a few months, and one CBS spokesman said to Bloomberg Businessweek on Wednesday: “There are all kinds of exciting opportunities offered by new platforms, and we intend to keep pursuing them. We are currently talking to a number of partners along these lines.”
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