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@ EconSM: CBS: Making Money From Mobile Apps

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We’ve heard about indie developers making millions of dollars in revenue from mobile and social media apps, but what about a giant like CBS? (NYSE: CBS)

CBSi has an app for, not to mention music apps for and third-parties like *AOL* — but are users flocking to them? Are advertisers? Our Staci D. Kramer got the scoop from Zander Lurie, CBSI’s CFO, about whether its mobile app business is booming.

Are you generating a profit on mobile? “We are, but it’s not as ad-driven as our online business. We have carrier relationships that pay well, and a lead-generation deal with iTunes.”

What are the user stats?: “We’ve had over 1 million downloads of our app, and we’re seeing 5 to 10 times the level of engagement (time spent) from the app than on the site.”