On this morning’s CBS earnings call, CEO Les Moonves talked up an online success story for the network: It will generate $21 million by streaming the March Madness tournament on the Web, up from $4 million a year ago.
CBS has been steadily increasing the number of games it puts online during the annual college basktetball tournament, and this year it’s showing the whole thing on the Web, in real time. A few weeks ago Moonves told the WSJ the network had sold $10 million in “online extensions” related to the tournament.
This will be the third year that CBS has put the games online. The first year, in 2005, CBS charged for access to the video and generated all of $250,000. The key point for Moonves, is that the online viewing, mostly at work, has not impacted TV ratings, which have also grown. Take note, ABC!
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