The U.S. government has Fort Knox, families have safety deposit boxes, and gym-goers have lockers--sacred places where valuable things are stored and protected. To extend the analogy, content companies like CBS have libraries; catalogues of hits old and new that represent the foundation of the entertainment business and the source of current and future income. We call ours the content vault. Check it out in the above video.
In any business, the key to long-term success is seeing beyond the flavor of the month to consistently create and sell a stellar product. At CBS, our biggest asset is and has always been our content: hit shows that are seen and loved across generations, across platforms, and across continents.
Hit television shows are built on creative ideas, compelling storytelling, and the ability to successfully connect with audiences and get them coming back for more. Launching new shows is the crucial first step in the process--before they become international franchises, they begin as ideas, then scripts, then pilots, and then, with luck, first seasons.
Each year, our goal is to create new hits that will entertain our viewers and deliver large audiences to our advertisers. And when a show takes off, it continues to create value beyond its weekly run, through domestic and international syndication, DVD and digital distribution, and licensing deals such as T-shirts, games and basically any product you can think of. Take for example the classic series, "I Love Lucy." Although the last episode was produced 54 years ago, the show is still generating entertainment for fans and revenue for CBS. It's a gift that keeps on giving.
And "Lucy" is just one example from our vault, which boasts over 70,000 hours of very popular programming. It's an impressive legacy to live up to and one that drives us every day in the quest to create and launch tomorrow's TV favorites.