Despite the fact that many believe Video on Demand is the next big thing, CBS president and CEO Leslie Moonves tells revenues are still minimal. Moonves said this during an investor's call yesterday.
Moonves told those present that he and other executives understand and see the importance of Internet and other new media, but believe that the networks are there to stay. "Network television is still the only game in town to aggregate to a huge audience."
Although Moonves sees VoD's importance, "revenues are still very small and the cannibalism is minimal". An interesting thing he added was that he believes that most of the VoD users already watch the shows on the networks, and simply use Video on Demand to catch-up with what they've missed.
