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CBS is raising the dead to save money. The media giant said this morning that it will [resurrect the dormant CBS Records music label][1] to supply CBS television shows with cheaper music and to generate online music sales.
CBS has also signed a deal with Apple's iTunes Music Store to sell the revived label's music and videos.
The CBS Records label is apparently CBS's attempt to keep more of it's content in-house. Rather than paying licensing feeds to other labels for the use of their music, CBS Records will be hunting for unsigned musicians who write and perform their own songs which can be used to promoted CBS's prime-time TV shows.
By owning rather than licensing content CBS reduces costs and gains another source of revenue via online digital sales of the music.
In a CBS press statement CBS Chief Executive Leslie Moonves says, "with more consumers choosing the online download model as the preferred way to purchase their favorite songs, we have an opportunity to use our unique and broad collection of media platforms to create a new music label paradigm for a small price of admission."
For those less versed in jargon, I think what Moonves means is, people are spending a lot of money on online music and CBS wants some.
Once things get rolling CBS plans to integration music from CBS Records artists into the network's programming. At the end of each show CBS will display artist and purchasing information for interested viewers.
CBS, which recently [demonstrated the merits of giving away video on YouTube][2] seems to understand the online market a little better than many of it's rivals and I have no doubt that the new label together with it's iTunes tie-ins will benefit the company.
I would, however, like to know why companies that don't sell vinyl records insist on calling themselves "record companies," is "music company" just not catchy enough?
[1]: http://www.cbsrecords.com/news.shtml "CBS Records"
[2]: http://www.hollywoodreporter.com/hr/content_display/television/news/e3i74d7f1097c5379d6e7722df5ec031798 "CBS YouTube channel a success"
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