Speaking at Business Insider’s IGNITION Conference last week, IAC chairman Barry Diller predicted a major shakeup in the cable and satellite TV model within the next five to 10 years. And based on the data out there filed for us by BI Intelligence, it looks like digital streaming is already beginning to catch up to traditional TV networks, at least in terms of revenue.
As you can see in this chart, YouTube’s annual ad revenue has been rapidly catching up to that of CBS, one of the biggest and most lucrative TV networks, and has more than twice as much revenue as AMC, which owns several popular shows including “Breaking Bad” and “The Walking Dead.” But CBS hopes to maintain and increase its lead over YouTube by embracing a new model: the company recently announced it will have a streaming subscription service available next year that will let you watch shows for a monthly fee, similar to Netflix.
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