Viacom’s Assets “Uniquely Configured to Serve” Demand for Low-Cost Bundle, Bakish Tells CNBC

by Stuart Winchester, Viacom

Video courtesy of CNBC. Used with permission.

Viacom CEO Bob Bakish is in Paris this week, attending the Viva Tech conference, where he provided more insight into the low-cost entertainment package that he has been promoting in recent weeks, saying in a conversation with CNBC that such a product could be on the market as soon as this calendar year.

With a price target somewhere between $10 and $20, the sports-free package would offer significant savings from both the traditional large bundle and the $40 over-the-internet options that are now proliferating.

Bakish points to Netflix’s tens of millions of U.S. subscribers and its $10 price point as indicative of the demand for lower-cost non-sports services. Viacom’s assets are, he says, “uniquely configured to serve this.”

“Ultimately, the question will be, how does the market segment, because we’re at a transition point in the market,” Bakish notes “…but by introducing this lower price point, we think with these cord nevers and millennials, this is where we start to get traction.”

While the exact look of the package remains unclear, one thing is certain: Viacom will continue to evolve to meet the consumer where they are.

 

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