CBS Corporation (NYSE:CBS) is livening up its series with an addition of another eight new shows. The network says that the eight will be distributed within the prime-time lineup for next year and will include the likes of Big Bang Theory spinoff Young Sheldon. The new move is perhaps a way of reviving back its audience for its prime-time entertainment, which has declined by 8%.
However, despite the many challenges the network may be facing, its Chief Executive Leslie Moonves claims that its “The Big Bang Theory” comedy continues to be the most-watched. It also has the most-watched drama in “NCIS” with “Kevin Can Wait” being the most popular new comedy alongside “Bull,” in drama.
Improved ratings for late-night show and morning news program
“The Late Show with Stephen Colbert” and “CBS This Morning,” are enjoying are riding in a great action of airplay. According to Moonves, this may be as a result of increased interest in political new, where a huge audience would be listening to the critiques of U.S. President Donald Trump.
The projection is that the two shows will contribute significantly to the growth of the network and particularly in advertising. “There is a lot more demand for Colbert and ‘CBS This Morning’ than there ever has been before. Mr. Colbert in particular “has been killing it night after night,” says Moonves.
CBS is sticking with its tried-and-true action formula
The network is being very calculative with its new strategy perhaps because of competition from the likes of Comcast Corporation (NASDAQ:CMCSA) NBC and Walt Disney Co (NYSE:DIS) ABC. Previously, it has used a tried-and-true action formula for two of its three new dramas, a trick that it is also in the proposition for the new shows.
Three comedies and three dramas are in the lineup, to be debuted in the fall. Apart from “The Big Bang Theory,” “Young Sheldon,” which is one of the network’s biggest bet will be among them. Others include “9JKL,” and “Me, Myself & I.”
In the meantime, CBS’s stock was trading at $60.38 a fall of $0.82 or 1.34%.