CBS Makes $23M from Streaming March Madness
Once again, CBS CEO Les Moonves reaps the benefits of his courage inside online video. Streaming all the NCAA March Madness games earned CBS $23 million in revenue. They guessed (correctly) that this particular content was very well-suited to the availability of the medium: 92 percent of online basketball watching was done at work, “demonstrating that we are adding a whole new audience to our existing content and making bosses throughout America very angry with us,” says the ever-irreverent Moonves.
Favoring the superdistribution of online video over the artificial scarcity of TV has paid off for CBS so far. Abundance leads to value, baby.
Tags: CBS, Les Moonves, NCAA, Sports, TelevisionRelated Stories
POSTED IN: Sports, Television
2 opinions for CBS Makes $23M from Streaming March Madness
Corporate Tech Drama Week!
May 15, 2008 at 11:50 am
[…] buys CNet. CBS Interactive actually shows considerable online media savvy, and CNet has tons of underutilized online media assets. Heck, I only found out today that CNet […]
TV is for Old Folks
Jul 2, 2008 at 8:33 am
[…] cluefully aggressive online media purchases — from Wallstrip to CNet — suddenly make a lot more […]
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