CBS Corp. has launched a $5.99-per-month digital streaming service, providing users current and previous-season TV series, local CBS stations from the top markets live, and classic shows on-demand.
Dubbed CBS All Access, the service is available through the CBS.com website or apps for mobile devices.
"This new subscription service will deliver the most of CBS to our biggest fans while being additive to the overall ecosystem," said CEO Les Moonves.
HBO, meanwhile, announced plans to offer a standalone streaming service, offering its premium content for the first time to viewers without a cable or satellite TV subscription.
Richard Pleper, chairman and CEO of HBO parent Time Warner, announced the plans at an investor meeting Oct. 15. "That is a large and growing opportunity that should no longer be left untapped," he said of digital subscribers. "It is time to remove all barriers to those who want HBO."
Pleper noted there are 80M homes without HBO and "we will use all means at our disposal to go after them." HBO currently offers its HBO Go streaming service to its TV subscribers.
Derek Thompson of The Atlantic said the moves by HBO and CBS, announced a day apart, show "the cable bundle has unraveled more the last 24 hours than in the previous 24 months."
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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