by Mike Liebenson
51 W. 52nd Street
New York, NY 10019-6188
CBS Corporation is an industry-leading mass media company that creates and distributes content across a multiple platforms to audiences worldwide. Spanning virtually every field of media and entertainment, CBS’s operations include cable, film, radio, publishing, local TV, and interactive/social media. 
CBS is home to one of the world’s largest libraries of media content, making it one of the most recognized brands in business. Specific to television, CBS’s businesses include CBS Television Network, The CW, Showtime Networks, TVGN, CBS Sports Network, Smithsonian Networks, CBS Television Studios, and CBS Television Stations .
CBS CURRENT FALL SEASON
The 2015 season has been kind to “The Big Eye,” with the network averaging 12.2 million viewers daily. This puts the network ahead of every other network, with NBC trailing behind at 9.8 million . Part of this is due to their addition of Thursday Night Football to their fall line-up. Each week their installment of football, which replaced conventional series for the first two months of the season, topped Thursday nights for total viewership. The final game aired earned a 13.2 rating and 23 percent share . That’s slightly less than the all-time high overnight household rating of 13.7 when the season opened on September 11. While Thursday Night Football has done well, analysts projected it to do even better. Yesterday RBC Capital Markets’ David Bank dropped his earnings forecast for CBS by 27 cents to $3.07 because of the ratings letdown .
Among CBS’s five other newcomers for the 2014-2015 season, only one was a half-hour sitcom. The Mccarthys, which debuted 1.7/5 in the 18-49 share and 8.08 total million viewers , but has fallen to 1.4 and 6.53 total million viewers .
 First Look
Of the four dramas that premiered this season, consisting of Madame Secretary, Scorpion, NCIS: New Orleans, and Stalker, Scorpion has the strongest for the 18-49 share while the NCIS spin off has the highest overall views. Scorpion debuted at 3.2 share, but has decreased to a low 1.9 as of their 11/24 episode .
 First Look
NCIS New Orleans debuted at 17.37 million views, and as kept most of its view with their most current episode garnering 14.47 million views. NCIS: New Orleans, along with its predecessor, both skew older and target viewers above the age of 50 . All four of the new dramas have been picked up for full seasons as of 10/28/14 .
 First Look
Of its current series, CBS boasts the most watched scripted series by both total views and 18-49 shares. The Big Bang Theory, which moved back to Thursdays as of 11/20, has consistently had highest 18-49 share for a scripted series with their most current rating averaging a 4.1 as of 11/25 . Their eighth year’s average is lower so far than their past season, which averaged a 5.1 rating in the 18-49 demographic with 17.65 million total viewers. The series is renewed until season 10, though, with higher salaries for their lead actors as well .
NCIS captures the most viewers for a scripted series every week with their 11/25 episode garnering 16 million viewers. This season is also down from last, with their 11th season of NCIS averaged a 2.8 rating in the 18-49 demographic with 18.5 million total viewers . Even with their top shows dipping in the numbers slightly, CBS is maintaining a steady flow of cash revenue.
CBS is publicly held. As of their 2014 third quarter report, CBS’s shares rose 2.3% from $3.30 billion in 2013 to $3.37 billion now . This was mostly thanks to a 4% increase in content licensing and distribution revenues from higher domestic and international licensing of their television programming. The main Entertainment unit, which includes the CBS TV network and studios, saw a 1% increase in revenues to $1.91 billion. Thanks to the political revenues of the midterm elections and their introduction to Thursday Night Football on CBS, the corporation saw their advertising revenue increase by 2%. In cable networks, like Showtime, revenues were up 5% to $624 million due to the company’s increased rates and increased cash flow from license agreements for its original series . As of December 1 at 4:02 pm, CBS’s stock closed at $54.47, a .75% decrease from the day before .
CBS All Access
On October 16, 2014 CBS announced a first for any of the major traditional broadcast networks; subscription based multi-platform access to their content called CBS All Access . For $5.99, the network will offer subscribers episodes from their current and classic shows on-demand across computers, tablets, and smartphones. Subscribers will also have the ability to live stream local CBS television stations in 14 of the most popular U.S. markets; And that number will only grow . The most important amenity of this new service is that customers do not have to be subscribers of a cable or satellite company to access this service; They just need to pay their subscription to seamlessly interact with CBS’s content across their multiple platforms.
TVGN to POP
The TV Guide Network, a joint venture between CBS Corp. and Lionsgate, is planning to receive a major facelift in January of 2015. TVGN will be rebranded as POP, a network centered on the celebration of American fan boy culture . The theme has a much more unique POV, allowing the channel to look at anything that draws on the experience of high intensity fans. POP will launch with more than 400 hours of original programming, featuring A New Kids on The Block reality series, a scripted series, entertainment news, red-carpet specials, and other exciting new content. One series in particular, The Story Behind, will look inside the origin stories of successful hit series . CBS is hoping to be able to obtain more money a month per subscriber. The current TVGN commands two cents a month in comparison to networks garnered towards similar audiences, like E!, that get 24 cents a month per subscriber. Their hopes extend to increased ad revenue as well, since it is on the smaller side .
CBS vs. Dish Dispute
Tensions are rising between CBS and the no. 2 Satellite Distributor over this past month. On November 14, CBS reached out to Dish Network subscribers to inform them of the impending loss of their affiliated channels due an unresolved deal between the two companies after their carriage contract expires at the end of November. CBS has extended the deadline twice, with their deal now supposed to close by the end of the first week in December . The deal seems to me more about rights over CBS content rather than financial issues, specificaly Dish’s ability to include it in the over-the-top service that it aims to launch as well as offering out-of-home viewing rights to their subscribers. There is been concern over Dish’s Hopper DVR service that allows users to record large amounts of primetime with one button. The rollout of this new DVR launched lawsuits against Dish by the major broadcasters, not just CBS .
 CBS Logo, Deadline.com, RT: 12/1/14
[1.5] CBS Contact, cbscorporation.com, RT: 12/1/14
 Photo of Leslie Moonves, cbscorporation.com, RT: 12/1/14
 Photo of Sumner Redstone, cbscorporation.com, RT: 12/1/14
 Photo of Joseph Ianniello, cbscorporation.com, RT: 12/1/14
 Photo of Anthony Ambosio, cbscorporation.com, RT: 12/1/14
 About CBS, cbscorporation.com, RT: 12/1/14
 Assets of CBS, cbscorporation.com, RT: 12/1/14
 Photo of Thursday Night Football, deadline.com, RT: 12/1/14
 CBS 2014-2015 Ratings, tvseriesfinale.com, RT: 12/1/14
 ‘Thursday Night Football’ Ends on High Note, hollywoodreporter.com, RT: 12/1/14
 The Mccarthy’s- First Look, youtube.com, RT: 12/1/14
 Thursday Final Ratings (10/31), tvbythenumbers.zap2it.com, RT: 12/1/14
 Thursday Final Ratings (11/25), tvbythenumbers.zap2it.com, RT: 12/1/14
 Scorpion: Season One Ratings, tvseriesfinale.com, RT: 12/1/14
 Scorpion- First Look, youtube.com, RT: 12/1/14
 NCIS: New Orleans: Season One Ratings, tvseriesfinale.com, RT: 12/1/14
 NCIS: New Orleans, Scorpion, Madam Secretary, Stalker: CBS Orders Full Seasons, tvseriesfinale.com, RT: 12/1/14
 NCIS: New Orleans- First Look, youtube.com, RT: 12/1/14
 The Big Bang Theory Cast Photo, moviepilot.com, RT: 12/1/14
 The Big Bang Theory: Season Eight Ratings, tvseriesfinale.com, RT: 12/1/14
 ‘Big Bang Theory’ Renewed Through Season 10, hollywoodreporter.com, RT: 12/1/14
 NCIS: Season Twelve Ratings, tvseriesfinale.com, RT: 12/1/14
 NCIS Cast Photo, jenniferbadger.com, RT: 12/1/14
 CBS Corporation Earnings Release, cbscorporation.com, RT: 12/1/14
 CBS Narrowly Beats Q3 Earnings Estimates, deadline.com, RT: 12/1/14
 CBS Interactive Stock Chart, finance.yahoo.com, RT: 12/1/14
 CBS Offers Digital Subscription Service, youtube.com, RT: 12/1/14
 CBS New Multi-Platform Digital Subscription Service, cbscorporation.com, RT: 12/1/14
 Meet POP, variety.com, RT: 12/1/14
 TV Guide Network To Relaunch In Early 2015 As POP, variety.com, RT: 12/1/14
 CBS Will Star on Dish Through the Weekend, deadline.com, RT: 12/1/14
 Carriage Talks Progress, variety.com, RT: 12/1/14