NEW YORK (TheStreet) -- CBS (CBS) President and CEO Leslie Moonves is counting on original content to give the company more leverage in potential deals with online media platforms such as Hulu and Netflix (NFLX).
During a presentation at the 38th annual UBS global media conference on Tuesday, Moonves explained that as the online platforms develop, CBS remains focused on creating original, premium content. However, he remains cautious, and has yet to close on any deals with online video providers.
"People want our content," he said. "We are going to take our time making the right decision. Caution is a not a bad thing here"
Moonves said he is keeping an eye on the trends in the television sector. While he has been in negotiations with possible partners, he wants to take his time and evaluate his options.By having desirable content, Moonves believes the company will also appear more attractive to advertisers. With its advertising accounting for about 65% of the company's total revenue, Moonves expects the recovering ad market to bolster its end of 2010 and 2011 results. "Our ratings are sensational," Moones said, "We are No. 1 in every single demographic." -- Written by Theresa McCabe in Boston.
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