CBS Looking for Content Deals
Big media content companies such as CBS (NYSE:CBS) are in clover as the boom in digital video consumption has enabled them to palm off even old shows to content-hungry streaming services and distributors such as Netflix (NASDAQ:NFLX), Hulu (NYSE:DIS)(NASDAQ:CMCSA)(NASDAQ:NWSA) and Amazon (NASDAQ:AMZN).
What’s more, the studios could tap into a fresh new revenue stream by creating made-to-order content for the new guys. CBS CEO Les Moonves let slip during the company’s conference call that the media major could also produce content for Netflix, but declined giving more details.
Netflix has already taken steps in this direction – it produced its first original series “Lillyhammer” and will launch later this year a David Fincher/Kevin Spacey series called “House of Cards”. It is also sourcing a new version of “Arrested Development” from Twentieth Century Fox.
Other names supposedly on the lookout for content deals are Verizon and Redbox with Google (NASDAQ:GOOG) and maybe Apple (NASDAQ:AAPL) following. Moonves said, “There are a lot of conversations, it’s hard to predict whether they’ll be a major deal. But we’re talking to an awful lot of people.”