In contrast with what many other big media executives are saying publicly, CBS CEO Leslie Moonves is embracing over the top (OTT) direct to consumer streaming.
The Hollywood Report quotes Moonves as saying, “One of the most important things we’ve done in the last few years is our over-the-top service. We believe OTT is our future.”
Moonves also talked about how streaming has brought profitability to networks that lose money on the front end, networks like CBS owned (jointly with Warner Bros.) the CW, “Every time we have a piece of content now, be it CBS or CW or syndication, we have what is called these ‘content monetization’ meetings. If we sell it to Netflix, how much are we going to get and where is it going to hurt in other areas? The thing you can’t do is do an algorithm for content. You’re not going to watch a piece of crap on any device.”
While I believe most big media companies are embracing OTT privately, it’s refreshing to see an exec talk about it in public, and seem to understand the need for quality content.Follow us: