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CBS PLANNING TO PRODUCE SHOWS FOR STREAMING

August 8, 2014 by · Leave a Comment 

Thus far, CBS has had little success with its movie company, CBS Films, as an alternative revenue source. Over its seven-year lifespan, most of its films have been flops. Its biggest hit came last year with Last Vegas, which cost $28 million to make and which grossed $134 million worldwide. Now the company says it plans to develop another revenue source — online video. Re/code.com reported today (Friday) that CBS is planning on producing movies that it would sell directly to video sites such as Netflix, Amazon and Hulu. CBS chief Les Moonves alluded to the company’s plans in little-noticed remarks during a conference call on Wednesday when he said that CBS Studios "will be producing more and more shows for more and more outlets, including major streaming companies and other emerging distributors."