CBS Chairman and CEO Leslie Moonves offered his own take on cord cutting this morning during an appearance at Goldman Sachs Communicopia. On the heels of recent reports of increased cord cutting, TheWrap reports that Moonves said today: “For CBS, this is positive news.”
The report quotes the veteran TV exec saying: “When ESPN announces that they’re losing subs, or Comcast announces they’re losing subs — that’s a good thing for CBS. These cord-cutters — they’re not disappearing. They’re not … cutting their cord and going into the woods and avoiding television. They’re just going to other services.”
The report notes that CBS, the country’s most-watched broadcast channel, is free over the air, and therefore remains somewhat insulated from the woes affecting subscription services.
“That optimism is backed by the fact that Moonves now has the streaming video-on-demand service CBS All Access under his (golf-sized) umbrella, a platform launched specifically for this new era of watching television,” TheWrap adds. “The broadcaster is also prepping an over-the-top sports streaming service for the same reason.”
The report also notes: “And then there are the financial benefits to these new-fangled forms of viewing. While Moonves’ CBS makes $2-plus per subscriber per month from a traditional MVPD, the company actually gets $4/mo. per sub in a skinny bundle and $6/mo. out of All Access subscribers. In other words, Moonves will hand you the wire-cutters himself.”