On the heels of the announcement that his network is bringing the “Star Trek” franchise back to TV, CBS CEO Leslie Moonves painted a rosy picture of the financial outlook for the company.
TVNewsCheck reports that Moonves accentuated the positive in the company’s just-announced third-quarter results.
While revenues for CBS Corp. were down — from $3.37 billion a year ago to $3.26 billion in Q3 2015 — “network advertising grew 8%, including 42% growth in late-night advertising, thanks in large part to ‘The Late Show with Stephen Colbert,’ which kicked off late in the quarter,” TVNewsCheck notes.
Said Moonves, addressing investors and analysts during the company’s conference call: “Advertising is coming back in a big way at CBS.”
Moonves was especially enthusiastic about retrans/reverse comp and CBS All Access, TVNewsCheck notes.
“Moonves projected retrans/reverse comp will exceed $1 billion next year, ahead of schedule. And while declining to make projections on much else, he said CBS is on target to exceed the $2 billion in retrans/reverse comp originally forecast for 2020,” the story reports.
As for CBS All Access, which will be the home of the new “Star Trek” series, Moonves called the series the “family jewel,” and said the company is contemplating a commercial-free version of the OTT service to be priced at about $10 per month. The current CBS All Access, with commercials, goes for $5.99 a month.
Moonves also hinted that “Star Trek” isn’t the last word when it comes to original programming slated for CBS All Access. “We feel like original programming is the next way to distinguish ourselves” on the platform, he noted.