CBS.WD Cbs Corp.

By Joe Flint 

Liz Feldman created what she thought would be a perfect Netflix show: a dark comedy about a woman struggling with grief and anger over the hit-and-run death of her husband and its effect on her family.

There was only one problem: Ms. Feldman's production deal was with CBS Television Studios, which had signed the former "Two Broke Girls" writer to create broad-based comedies for the CBS broadcast network.

"This was not at all what I was hired to do," Ms. Feldman said of her idea, comparing it to being given "a history assignment and you come in with a science experiment."

When Ms. Feldman met with studio brass in August 2017, she was prepared to pivot her pitch to something that could work for CBS. To her surprise, she got a thumbs-up from Kate Adler, the head of comedy at CBS Studios, who agreed to try to sell it to Netflix Inc.

Netflix liked the idea. On May 3, Ms. Feldman's "Dead to Me," starring Christina Applegate and Linda Cardellini, will debut on the streaming service.

Ms. Feldman made her pitch at a time when CBS Television Studios was in the midst of its own pivot. Long a pipeline for CBS Corp. properties, the studio decided its future would depend on being able to sell shows to outlets it didn't own. CBS, which is smaller than many other major media companies, sees selling to other outlets as both an important revenue source and a way to build up its library.

"We don't want to just be in one spot. We need to have a broad portfolio, " said David Stapf, president of CBS Television Studios.

CBS's push to sell content outside its own ecosystem comes as other media giants such as Walt Disney Co. and AT&T Inc.'s WarnerMedia focus on making more content primarily for their own platforms.

"Given that everyone is now selling more shows to themselves, CBS could end up being one of the truly scaled arms dealers," said media analyst Michael Nathanson of MoffettNathanson Research.

It is a strategy embraced by necessity by smaller TV producers such as Viacom Inc.'s Paramount Television and Sony Pictures Television, which don't have big in-house platforms to program. If Viacom and CBS -- which share common ownership -- merge, it could give the combined entity even more clout in the creative community.

In addition to "Dead to Me," CBS Studios also makes the comedy "Insatiable" for Netflix and has a drama called "Unbelievable" premiering on the streaming service later this year.

Netflix isn't CBS Studios's only customer. CBS also has shows on cable channels Starz and TBS, and a project in the works for Quibi, the short-form platform being launched by veteran Hollywood executive Jeffrey Katzenberg and former Hewlett Packard Enterprise Co. CEO Meg Whitman.

Upcoming streaming service Disney+ was designed to showcase Disney's own content, but one of the first shows the company ordered was "Diary of a Female President," a CBS Studios production about a young girl's journey to the White House.

CBS also is developing content for Hulu, Amazon.com Inc.'s Prime Video and Apple Inc.'s new programming service.

The advantage to selling to streamers is that they typically pay a heavy upfront fee for long-term rights, Mr. Stapf said.

"We're making money out of the gate," he said. "It becomes an annuity."

Selling to nonaffiliated platforms isn't without risks. The buyer has no incentive to sustain a show if it isn't delivering big numbers. Netflix canceled "American Vandal," a CBS-made critically acclaimed mock-documentary series parodying "The Jinx" and "Making a Murderer," after only two seasons. And because Netflix deals are comparatively restrictive, the show couldn't be moved to All Access, CBS's direct-to-consumer streaming platform.

Mr. Stapf said that could happen at CBS, too: "If it's not doing what it should be, it goes away."

For the 2018-19 television season, CBS Television Studios had 66 shows across 14 platforms, compared with 34 shows on four platforms five years ago.

The strategy took a long time to bear fruit, Mr. Stapf said. He would keep telling writers CBS could make shows for any platform. "Until you have shows anywhere, nobody really believes you," he said.

The turning point, Mr. Stapf said, was "American Vandal," which premiered on Netflix in September 2017.

Mr. Stapf dismisses concerns that selling so much to outside platforms could hinder developing content for CBS outlets.

"There are enough good ideas coming in the door where it doesn't have to be one or the other," he said. In addition, the shows the studio makes for CBS lean toward procedural dramas such as "NCIS" and multicamera sitcoms like "The Neighborhood." Many of the shows the studio sells externally wouldn't necessarily fit on the network or All Access.

Mr. Stapf's approach also extends to talent. When Hulu approached CBS Studios to see whether Alex Kurtzman, executive producer of "Star Trek: Discovery" for All Access, could develop a Hulu series based on the novel "The Man Who Fell to Earth," Mr. Stapf said yes.

Some creators credit Mr. Stapf for not forcing shows into the CBS pipeline or worrying about making hits for rivals. When I Can And I Will Productions -- the production company of "Jane the Virgin" star Gina Rodriguez -- pitched a show about a 12-year-old Cuban-American girl who later becomes president, Mr. Stapf immediately thought of Disney's new streaming service, which ordered 10 episodes.

"David doesn't have an ego," said Ms. Rodriguez, adding, "Sometimes you have to give things away for them to come back," Ms. Rodriguez said.

Mr. Stapf said finding the best home for a show ultimately benefits CBS. Case in point: CBS Television Studios is producing a reboot of the 1990s teen hit "Beverly Hills 90210" for Fox that its sister network wanted.

"We looked inward and said, 'Where is this show going to thrive, where is it going to stay on the air, where does it belong?' And we all decided Fox was the best place for it," he said.

Write to Joe Flint at joe.flint@wsj.com

(END) Dow Jones Newswires

May 01, 2019 08:14 ET (12:14 GMT)

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