Netflix (NFLX) Talking With CBS (CBS) About Producing New Original Show
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Netflix (Nasdaq: NFLX) shares are trading lower early Thursday despite news the company may be talking with CBS (NYSE: CBS) about producing exclusive content.
As noted by an AllThingsD article, on last night's call CBS CEO Les Moonves said it may end up producing something for Netflix, although he was light on details.
Moonves specifically stated, "We're approximately producing around 20 shows, most for CBS and The CW. We're also doing a show for TNT. Right now we have a pilot for USA. We still have more capacity. And when you look at the Netflixes of the world and the Amazons of the world doing new production, we welcome that. We are talking to Netflix about a potential deal to produce a show for them. Once again, we do not look at them - until they are doing 22 hours a week of premium content, we don't look at them as a competitor, but rather another place to put our content, whether it's original or buying our libraries as they have. So the good news is the production company is very strong and has a lot more room to do more."
Netflix, for its part, isn't talking. "Anyone and everyone who produces content is looking to do deals with Netflix," a Netflix spokesman told AllThingsD.
To keep its 22 million U.S. subscribers happy, Netflix is making a big bet on original content. The company's first original series "Lillyhammer" was launched last week. Netflix will launch "House of Cards" later this year.
Netflix last traded at $121.50, down 0.5 percent from Wednesday's close.
As noted by an AllThingsD article, on last night's call CBS CEO Les Moonves said it may end up producing something for Netflix, although he was light on details.
Moonves specifically stated, "We're approximately producing around 20 shows, most for CBS and The CW. We're also doing a show for TNT. Right now we have a pilot for USA. We still have more capacity. And when you look at the Netflixes of the world and the Amazons of the world doing new production, we welcome that. We are talking to Netflix about a potential deal to produce a show for them. Once again, we do not look at them - until they are doing 22 hours a week of premium content, we don't look at them as a competitor, but rather another place to put our content, whether it's original or buying our libraries as they have. So the good news is the production company is very strong and has a lot more room to do more."
Netflix, for its part, isn't talking. "Anyone and everyone who produces content is looking to do deals with Netflix," a Netflix spokesman told AllThingsD.
To keep its 22 million U.S. subscribers happy, Netflix is making a big bet on original content. The company's first original series "Lillyhammer" was launched last week. Netflix will launch "House of Cards" later this year.
Netflix last traded at $121.50, down 0.5 percent from Wednesday's close.
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