Streaming pact is set to expire in May
Viacom CEO Philippe Dauman isn't giving up on the possibility of extending the media giant's distribution pact with Netflix.
The media mogul told investors and analysts during a quarterly earnings call on Wednesday that it is possible that Viacom will work out a new pact with the streaming service even though its current distribution agreement with Netflix expires this month.
"We’re still in discussions with Netflix," Dauman said.
"We're open to licensing content – some on an exclusive basis and some on a non-exclusive basis," he added.
Earlier this week, Netflix said in a letter to investors that it would let its current deal with Viacom expire this month because it wants to focus on licensing exclusive content as a way to differentiate itself from other streaming services.
"We are in discussions with them about licensing particular shows but have yet to conclude a deal,” Netflix CEO Reed Hastings and CFO David Wells wrote.
Dauman declined to share many details about the substance of the discussions, but said Viacom is also talking to other streaming services about licensing movies from its film division, Paramount Pictures, and its cable properties like MTV and Nickelodeon. He said even if the deal with Netflix expires, Viacom will realize its projections of a 10 percent gain in its affiliate revenues this year.
"It’s just growing the pie over time," Dauman said.