Earnings: CBS’s Moonves: Hundreds Of Millions In ’07 Digital Revenue; No Major Buys

CBS expects to generated hundreds of millions of dollars in digital revenue next year, CEO Les Moonves said during today’s 3Q earnings call. No specifics, though, as he stressed digital’s importance to the company. As for spending, “There are a lot of new media assets that are out there that may potentially fit with the businesses we are currently in; and we are exploring those. But once again there is not going to be any major acquisition.” More via SeekingAlpha:
— Moonves: ” …we continue to find new platforms to stream our hit content. We’re already offering many of our shows on Google Video, Apple iTunes, Amazon.com, and AOL. Plus we began offering free next-day streaming of 12 primetime series on Innertube, our own entertainment website. We have streamed more than 2 million episodes of our shows so far this season and over 3 million related videos. These numbers continue to grow week over week. … We’re also serving up record numbers of users and viewers with CBS News online and the Evening News on demand. Not only does this reflect improved penetration with younger demos, it also positions CBS News as a trusted information source for younger audiences as they form primary media consumption habits online.”
— Fred Reynolds, EVP & CFO: CSTV is “continuing to do really well with the online business, particularly at the college level with the ecommerce they have there.”
— Moonves on radio: “We are extending radio to new media through podcasting and streaming. We now have over 90 stations broadcasting in HD. By the end of the year, we expect radio to bring in to close to $14 million in digital revenues.”
— Moonves on incremental internet, DVR adds: “Meanwhile, DVR and internet streaming are only adding viewers. New technologies and platforms make it easy for people to enjoy both programs that air during these highly competitive time periods. We are already getting paid for this incremental viewing on the Internet, and we expect to get paid for DVR viewing next year.” AdAge has more on DVR pay.

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