'Star Trek' Streams Up Profit as CBS Asks Who Needs Ads
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CBS Corp. overcame a slump in TV advertising to report higher sales and profit in the final quarter of 2017, buoyed by offering programs to online providers such as Netflix and attracting subscribers to its own All Access service with shows like “Star Trek: Discovery.”
CBS boosted sales from licensing programs by 33 percent and subscription fees by 20 percent, according to a statement Thursday. The company said its two paid streaming services have reached almost 5 million subscribers.
CEO Leslie Moonves is trying to sustain momentum at the company he has led for more than a decade while his board explores a merger with Viacom, which like CBS is controlled by the Redstone family. Viacom owns cable networks including MTV and Nickelodeon, as well as the Paramount Pictures studio.
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