Netflix streaming features CBS shows under new arrangement

Netflix streaming features old CBS shows

Netflix streaming will soon offer customers some of the most-loved programs in American television history from CBS Broadcasting Inc.

Under a new contract announced Tuesday by the two companies, users of Internet streaming and video rental site Netflix will have access to full seasons of past television programs such as "Star Trek, "The Twilight Zone" and "Cheers" among others.

The two-year deal involves CBS receiving hundreds of millions of dollars from Netflix for the shows. CBS can choose to renew the arrangement for the Netflix streaming after the two-year period. Supernatural series "Medium" and science fiction  show "Flashpoint", both discontinued, are also included in the package.

Ted Sarandos, chief content officer of Netflix, said that the company is "now the only premium subscription service with shows featured on all four broadcast networks." CBS president of distribution Scott Koondel said the network is still looking to partner with similar services like Netflix. "More and more, people want to be able to access our programming on a wide variety of platforms," Koondel told the WSJ.

Traditional media firms like CBS are findings ways to work with newer companies like Netflix to boost revenue and protect their advertising cash cow. They have so far only willing to offer older content and not risk further revenue loss if they provide access to newer shows.

Meanwhile, online retailer Amazon is becoming a major player in this business segment. It announced on Tuesday a new video-streaming service for its Amazon Prime customers similar to Netflix streaming.

Posted by Kade Quinn on Wednesday February 23 2011, 3:27 AM EST. Ref: WSJ. All trademarks acknowledged. Filed under Entertainment, Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0