Netflix Has Hit Shows, But They Are Few: CBS Boss

Netflix Has Hit Shows, But They Are Few: CBS Boss

Netflix and Amazon are good for business, stated the head of CBS, Les Moonves, saying these online streaming companies pay CBS “hundreds of millions of dollars per year.” Apart from being a customer, Netflix and other streaming firms are also a competitor as they are create their own shows.

Netflix’s House of Cards success an exception

During the second annual Code Conference in Rancho Palos Verdes, Moonves, during an onstage interview with Kara Swisher, said that his life is much better with Netflix. Moonves said that he told Netflix programming director Ted Sarandos that the success of House of Cards, the online streaming company’s original series, is more an exception than a rule.

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“‘It’s not that easy,” Moonves said he told Sarandos. “You hit a grand slam home run in your first time at bat,” adding, “There are a lot of misses there,” making a reference to other Netflix shows.

When Swisher reminded Moonves of other popular shows on Netflix, such as Orange is the New Black, the CBS head said that the success of them cannot be knowns as Netflix does not reveal numbers.

Also when Swisher asked if he is jealous of Netflix, Moonves hit back with a crunching reply, saying, “For every Chelsea Handler that doesn’t want to be on network television, I’ve got Stephen Colbert who does,” he said. “I think I’ve won.”

Moonves a media veteran

Moonves’ confidence comes from tons of experience, as the 65-year veteran joined CBS in 1995, and since then, he has earned himself a reputation of a TV executive with the best track record of finding and airing hit TV shows. Some of the shows that need mention are the CSI franchise, Survivor and The Big Bang Theory.

However, with the changing times and increasing competition, CBS, like any other traditional network, is seeing challenges from digital mediums. Moonves has been a believer that CBS will continue to do well irrespective of what screen viewers are using as long as it continues to show hit programs.

Though his confidence is good, overconfidence is never recommended. With Netflix expanding globally and Amazon not far behind, there could be a time when the tides are turned.

On Wednesday, Netflix shares closed up 2.12%, and year to date, the stock is up by over 83%.

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