Why CBS Corporation Is a Big Fan of Netflix

Netflix made Star Trek: Discovery profitable before it even debuted on CBS All Access.Image source: CBS.

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One of the last things you might expect a television network executive to say is, "We're a big fan of Netflix (NASDAQ: NFLX)." Sure enough, CBS (NYSE: CBS) CEO Les Moonves uttered those words in front of analysts at the Goldman Sachs Communacopia conference earlier this month.

Although Netflix is often seen as public enemy No. 1 to the traditional television industry, its global presence can be of great benefit to media companies producing their own content, including CBS. Additionally, its business model is leading the way for CBS to launch its own over-the-top streaming services: Showtime and CBS All Access.

How All Access made a profit on Star Trek before it even debuted

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