CBS’ ‘Yellowstone’ Ratings Boom Sets the Scene to Leverage Shows Across Streamers, Networks

CBS has a brand new hit on its hands with the broadcast run this fall of Paramount Network drama “Yellowstone.” Nearly 22 million viewers tuned in to at least one episode of the Taylor Sheridan drama. Paired with Paramount Global’s cross-network promotions, the show’s ratings success could be a blueprint for legacy media companies looking to leverage hit shows across both linear and streaming platforms.

It wasn’t some genius strategy. The broadcast network’s decision to air the series — which first premiered on the cable channel Paramount Network in 2018 — was prompted by this summer’s Hollywood double strikes, which halted production of scripted shows and left broadcasters scrambling to fill their fall schedules. While the Kevin Costner-led drama might not have made it to CBS without the work stoppage, its inclusion in the network’s Sunday lineup exposed new audiences to what was already a hit series on Paramount cable while streaming on a rival company’s platform, NBCUniversal’s Peacock.

Of the 21.6 million viewers who tuned in to at least one episode of “Yellowstone” Season 1 on CBS, 52% of audience members had never seen a single episode of the show in the past year on either linear or streaming platforms, according to internal research provided by the network. The research estimated that 80% of CBS audiences and 70% of viewers of CBS dramas had not seen a single episode of “Yellowstone.”

Audiences tuned in

“Yellowstone” first made a splash on CBS when it debuted on Sept. 17 with 6.83 million viewers and a 0.67 rating in the key broadcast 18-49 adult demographic, according to Nielsen live-plus-same-day figures. Viewership for the premiere grew to 7.5 million viewers after three days of viewing across VOD, DVR and other platforms.

The debut of the drama series on CBS also benefited from its “60 Minutes” and NFL double-header lead-in, and CBS marketed it like the launch of a new network show, according to an individual with knowledge of the premiere strategy.

The Sept. 17 launch stood out as the most-watched and highest-rated episode of the first season’s rollout on CBS, which averaged 4.69 million viewers and a 0.36 rating across its nine-episode telecast on the network, with CBS airing one or two episodes each Sunday, per live-plus-same-day data. The Season 1 finale, which aired Oct. 22, secured 4.52 million viewers and a 0.37 rating.

The impressive viewership numbers for “Yellowstone” don’t come as a surprise to Brian Frons, professor at UCLA’s Anderson School of Management and a former daytime programmer at ABC. He noted that while the series is a big hit on Paramount Network and its streaming home Peacock, “the vast majority of the country has not seen the show.”

The CBS premiere of “Yellowstone” was up 141% in total viewers when compared to the show’s Season 1 premiere on Paramount Network, which scored an audience of 2.83 million viewers in 2018. Since the show’s debut on CBS this fall, viewership for “Yellowstone” on Peacock increased 26% through Sept. 27 as compared to figures during the last 10-day period, according to a report by Variety. (While “Yellowstone” is a Paramount Network original series, NBCUniversal platform Peacock has the exclusive streaming rights per a deal completed prior to the launch of Paramount+.)

CBS was clearly happy enough with its ratings success to continue airing “Yellowstone,” as the network announced it would begin airing the second season starting Sunday, Oct. 29, a week after airing the Season 1 finale.

“Yellowstone” isn’t the only show CBS leveraged from its Paramount Global’s subsidiaries this season. Its strike-impacted fall slate also includes “NCIS: Sydney,” the international spin-off set to premiere Nov. 14 that was originally set to run exclusively on Paramount+.

Sharing is working

While “Yellowstone” stood out as an adequate fit for CBS’ core audience at a time when content was needed, the network has utilized its reach as a promotional arm for Paramount Global’s properties in the past, an individual with knowledge of CBS’ strategy told TheWrap. In addition to “Yellowstone,” CBS aired special episodes of several Paramount+ revivals, including “Star Trek,” “Criminal Minds” and “Frasier,” whose first two episodes debuted to an average of 2.23 million viewers during their CBS premiere in October.

And it’s not just CBS. Paramount Global has been fostering an ecosystem among its networks and streamers that extends well beyond strike necessity.

Within the Taylor Sheridan universe alone, “Yellowstone” spin-offs “1923” and “1883,” as well as “Tulsa King” and “Mayor of Kingstown” (all of which are Paramount+ originals) have aired on Paramount Network following episodes of “Yellowstone” to drive interest to the streamer. Similar to “Yellowstone’s” run on CBS, Paramount Network aired a full season of “1883” in June, which scored impressive numbers — 3.8 million viewers tuned in to the premiere episode, becoming the biggest scripted series debut on cable since 2020 — and drove an increase in subscribers to Paramount+, according to an individual with knowledge of the streamer’s strategy.

Likewise, other recent Paramount+ series originals, including “George & Tammy,” “Your Honor” and “Special Ops: Lioness,” received a similar linear sampling in 2023. “George & Tammy” and “Your Honor” ran after “Yellowstone” on Paramount Network, while “Special Ops: Lioness” aired a sampling after “1883” this summer.

Previewing Paramount+’s original series across its parent company’s broadcast and cable networks has helped build awareness of the platform since its launch in 2021, and speaks to the entertainment giant’s goal to “pull” content from the whole company into the streamer.

“We’re pulling from our cable networks, in particular, libraries which serve specialized audiences, including kids and family,” Paramount Global CEO Bob Bakish said at Goldman Sachs’ Communacopia conference in September. “And of course, we’re doing signature originals, which bring people to the service in very large numbers.”

Linear TV can help streamers

For Frons, leveraging IP across an entertainment conglomerate’s linear networks and streaming platforms reflects a path forward when it comes to growing awareness for streaming series and driving subscribers to a streamer.

“If there are shows out there… on platforms that didn’t have the ability to exploit their full potential, a good acquisition person should hopefully be able to find a few of these gems from the past, put them onto other platforms and push it out to the wider audience,” the UCLA professor told TheWrap.

Frons named Peacock’s “Poker Face,” which launched on the NBCUniversal streamer in January, as an example of a streaming original that could be leveraged across its parent company’s linear portfolio. Its procedural structure with Natasha Lyonne’s edge sets the scene for an enticing show for NBC audiences, according to Frons.

There are currently no plans to bring “Poker Face” to NBC, an individual with knowledge of the streamer’s plans told TheWrap.

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