Yahoo Finance CBS Corp Boosts Streaming Services, Launches CBS SPORTS HQ
Ushering in good news for sports lovers, CBS Corporation CBS has launched CBS SPORTS HQ, a 24-hour streaming sports news network. The streaming service is available for free on CBSSports.com and connected TV devices such as Amazon Fire TV, Apple TV and Roku players. Moreover, Android and iOS users can stream via CBS Sports mobile app.
This latest streaming service, which will cover sports news, highlights and analysis, is a partnership between CBS Sports and CBS Interactive. Furthermore, CBS SPORTS HQ is using the resources of CBS Sports, 247Sports, SportsLine, CBSSports.com, MaxPreps and CBS Sports Fantasy to deliver solid sports network.
Also, CBS Chairman and CEO, Leslie Moonves said that “from CBS All Access to Showtime OTT to CBSN, we are creating best-in-class direct-to-consumer streaming platforms that are positioning us to be leaders in the future of premium content distribution”.
In fact, with the launch of sports streaming network, the company is trying to imitate the success of its first streaming news channel CBSN. Ever since the launch of CBSN in 2014, the network has shown exceptional growth rate. In 2017, streaming of the network increased to 287 million, up 17% from the election year of 2016.
Moreover, with the ratings for cable TV channels falling, media houses are making a concerted effort to find new avenues for their content. Additionally, as more and more people have started streaming TV online, opportunities to grow business are skyrocketing in this sphere.
Going forward, CBS Corp is likely to gain from increasing demand for content, rise in retransmission rates, expansion of direct-to-consumer business, sturdy digital presence, upfront fees from traditional distribution partners and higher international content licensing fees. Further, with the launch of CBS SPORTS HQ, the company is likely to generate incremental revenues.
Stock Performance
Following the news CBS Corp gained more than 1% on Feb 26. However, in the past six months the stock has declined 12.6% against the industry’s gain of 21%. CBS also remains highly vulnerable to the advertising market as it derives a major portion of revenues from the sale of advertising on its broadcast and cable networks, television stations, syndicated programming and online properties.
Looking for Hot Media Stocks? Check These
CBS carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are The Walt Disney Company DIS, Time Warner Inc. TWX and Viacom, Inc. VIAB. While Disney sports a Zacks Rank #1 (Strong Buy), Time Warner and Viacom carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Disney’s earnings have surpassed the Zacks Consensus Estimate in the trailing three out of four quarters, with an average beat of 4.7%.
Time Warner has an impressive long-term earnings growth rate of 9.8%.
Viacom has long-term earnings growth rate of 8.3%.
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