CBS CEO Admits Live TV Viewing “Virtually Irrelevant Now”

At the Goldman Sachs Annual Communacopia Conference, head of CBS TV Les Moonves confirmed what we already know: “overnight ratings are virtually irrelevant now.” While stressing that CBS is still “monetizing the majority” of the time-shifted audience, the executive also praised OTT service Netflix for facilitating year-round programming, which CBS has been dipping its toes into. After this rather candid remark, it will be interesting to see how the broadcaster will continue to evolve its business model.