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CBS exec: More platforms mean more 'hungry mouths to feed' with content

A recombined ViacomCBS can fill the content needs of third-party programmers while bolstering its own subscription video-on-demand business, a CBS Corp. executive said.

"It's clearly not a zero-sum game, but it's also not infinite," David Nevins, chief creative content officer at CBS Corp. and chairman and CEO of Showtime Networks Inc., told investors at an industry event on Sept. 12, when asked about being able to add streaming video-on-demand subscribers. "It's an ... interestingly evolving ecosystem."

Apple Inc., The Walt Disney Co. and AT&T Inc.'s WarnerMedia are all gearing up to enter the SVOD space, currently led by Netflix Inc. and Amazon.com Inc. CBS All Access and Showtime OTT already are established players, targeting a combined 25 million subscribers by 2022. For its part, NBCUniversal Media LLC is building an ad-supported video-on-demand service, an area where Viacom Inc. also is making its mark with the recently acquired ad-supported streaming service Pluto TV.

Viacom and CBS, which recently announced a merger expected to close before year-end, will aim to produce content for the combined entity's own programming initiatives, while also supplying product to other providers.

Nevins noted that the legacy bundled pay TV ecosystem is "going away slower than some people think" but also said he expects newer streaming entrants to yield fresh opportunities. As the recombined ViacomCBS will be "largely platform agnostic," there will be partnering flexibility and "lots of interesting possibilities for bundling and distribution as these mega-platforms evolve over time."

Nevins said creative windowing and creative distribution will be key.

"I think we're pretty well equipped to take advantage as the marketplace evolves, and that's one of the big drivers of this recombination of CBS and Viacom," said the executive. "It's the ability to meet consumer demand where it is and as it evolves."

That means developing content to further a key franchise like "Star Trek." The new series built around that IP, "Star Trek: Discovery" is fueling sales of streaming service CBS All Access. Development is underway for a "Star Trek" animated show for Nickelodeon/Nick At Nite (US) with the aim of making the franchise more relevant for the next generation of enthusiasts.

"You're exposing it, and hopefully you create this virtuous ecosystem between all the platforms," said Nevins.

It also means selling content that does not fit within company holdings. "Diary of a Female President," centered around a 12-year-old's diary, is an example: The audience it is expected to attract was considered too young for CBS, Showtime, The CW (US) and CBS All Access. Rather, CBS Television Studios sold the show to streaming service Disney+, which is slated to launch Nov. 12.

Echoing comments made recently by Paramount Pictures Chairman and CEO Jim Gianopulos, Nevins noted that with some of the new direct-to-consumer players retrieving content that resided elsewhere to stock their own services, there will be more openings for CBS Television Studios and Viacom's Paramount Television to work with other programmers.

"There's a lot of hungry mouths to feed," he said.