Moonves: Netflix "Paying A Lot For Our Programming"
Time was when most broadcast executives would have agreed with Jeff Zucker, who remarked in 2008 when he headed NBC that the industry had to be careful not to trade analog dollars for digital pennies. Not so anymore, it would seem, if CBS chief Les Moonves's comments at an investors' conference in Palm Beach, FL on Monday is any indication. Moonves remarked that he does not regard Netflix as a threat, noting that They are paying a lot for our library programming. ... When you see the amount of dollars available putting previous seasons of existing shows on, suddenly the value proposition becomes much better. He said that his company is also talking to Netflix about producing original programming for its streaming service. If they want to get into the original-programming game, that's only great, he said. Moonves also remarked that he's pleased with the growth of Amazon Prime. They are becoming a legitimate competitor with Netflix, making it no longer the only game in town, he said.