For any TV networks still debating whether going over the top is a good idea, they need only look to CBS. Speaking to investors on Wednesday, CEO Les Moonves revealed that over 100,000 people have signed up for the company’s streaming service, CBS All Access. At $6 a month, that means the product will generate over $7 million a year in revenue.
While the cord-cutting trend is on the minds of many TV execs, Moonves said that CBS All Access was drawing interest from more than just the crowd that eschews pay-TV. Those seeking access to content on mobile devices, and dedicated fans of popular CBS shows have also been willing to pony up $6 a month for all-you-can-eat access over 6,500 episodes of CBS content.
CBS isn’t the only network to have seen the opportunity in OTT. Just prior to CBS’s All Access announcement, HBO revealed plans for a streaming service of it’s own, which is set to debut next month on Apple devices. Univision followed them both with a similar product of their own. More recently, Nickelodeon announced Noggin, a streaming product for young children.