CBS Corporation (CBS), The Walt Disney Company (DIS) & The Bright Side To The Gloom

For the past few years, I’ve been carefully revealing a deep and dark secret to friends, family, and co-workers. . .

My favorite TV show is about a vigilante serial killer. Now, I know I’m not alone. The genre has exploded in popularity recently, and it’s naïve to think that many of the people who I’m afraid to confide in are the same people who are tuning in with me to watch.

CBS Corporation (NYSE:CBS)A novel approach to TVs favorite serial killers

Whether you think he’s justified or not, odds are, if you know him, you love him: Dexter Morgan — the vigilante serial killer who is the subject of CBS Corporation (NYSE:CBS)’s Showtime series, Dexter. The show is, in fact, based on a series of novels, the first of which is Darkly Dreaming Dexter, and it has arguably been the most successful series for Showtime. The previous season (season seven) was the highest-rated season of the series, averaging 6.1 million viewers per week. The season seven finale had 3.43 million viewers on the night it aired — the most viewers ever for a Showtime series episode. In advance of the start of the final season, Showtime entertainment president, David Nevins, had already hinted at the possibility of a spin-off. He stated, “All options are on the table as to where it could go after this.”

It is difficult to gauge just how profitable Dexter has been for CBS Corporation (NYSE:CBS), but for 4Q12, cable network revenue increased 11% to $438 million, up from $395 million for the same prior-year period. According to CBS Corporation (NYSE:CBS), this is the result of “ . . . higher affiliate revenues, which reflect increases in rates and subscriptions at Showtime Networks . . . as well as an increase in revenues from the licensing of Showtime original series.”

Just as Dexter was adapted from a novel, so was Norman Bates. Before Norman appeared in Hitchcock’s masterpiece, he was the subject of a novel, written by Robert Bloch. The creators of A&E’s, Bates Motel, contend that their series is not completely beholden to either work. They admit to having taken some liberty with re-imagining a younger Norman and his relationship with his mother, Norma. A+E Networks, a joint venture of The Walt Disney Company (NYSE:DIS) and Hearst Corporation, has already renewed the series for a second season, based on the initial acclaim of the series.

The success of this series could be substantial for The Walt Disney Company (NYSE:DIS). In its first quarter earnings for fiscal 2013 report, The Walt Disney Company (NYSE:DIS) noted that, “Operating income at Cable Networks decreased $15 million to $952 million for the quarter due to a decrease at ESPN, partially offset by growth at the domestic The Walt Disney Company (NYSE:DIS) channels, ABC Family and A&E Television Networks (AETN).” Additionally, The Walt Disney Company (NYSE:DIS) noted that, “Higher equity income from AETN reflected higher affiliate and advertising revenues, partially offset by higher marketing costs, along with the benefit of the increase in the Company’s ownership from 42% to 50%.”

There’s nothing funny about this comic

Recently, rumors have emerged that Guillermo del Toro is working with Time Warner Inc (NYSE:TWX)’s HBO to develop a show, Monster, in which a young doctor saves a boy from dying, but, in doing so, unleashes a force of unspeakable evil – a sociopathic serial killer, whom the doctor must battle to stop. The show is to be based on a Manga series of the same name. For those unfamiliar, Manga is a Japanese-style comic book, most of which typically have an extremely devoted following of fans. Suggesting a vast amount of source material, Monster, as a comic, consists of 18 volumes, and it has already been adapted into a 74-episode anime series. Although some might scoff at this endeavor, they should not underestimate HBO’s prowess in turning a project like this into a blockbuster.

HBO has already seen success in a similar venture with its adaptation of Game of Thrones. According to its website, viewership has increased 22% from Season 1 to Season 2, and critical acclaim is evident in the six Emmy awards the show won in 2012. Although the show has the dubious honor of being the most pirated show of 2012, HBO programming president, Michael Lombardo, claims that the show is the network’s biggest money-maker, based on international and DVD sales. It may continue this way for a while, too, when one considers the enormous amount of source material available. There are currently five novels that comprise the series, A Song of Ice and Fire, upon which the show is based, and the author, George R. R. Martin, who plans to write another two novels to finish the series.

The bright side to the gloom

Forensic investigation is one of the biggest genres of television programming that has emerged over the past twenty years or so. But, the truth of the matter is that are several shows, whose popularity suggests the emergence of a new genre — one whose heroes are on the other side of the law. The gaining popularity of these programs benefits fans, and as content delivery becomes increasingly sophisticated, the content providers, as well as investors, have much to gain.

The article The Darker Side Of Storytelling Is Lighting Up Your TV originally appeared on Fool.com and is written by Scott Levine.

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