• by David Goetzl  @dgoetzl, October 27, 2010

Unlike some programmers, CBS Sports has no intention of producing 3D broadcasts without a deal guaranteeing a return on investment. After spending millions to offer high-def programming without commensurate profit, a top executive said CBS is unwilling to gamble on the much more expensive 3D TV programming.

"As we go into 3D, there really is no way that my boss or our company is going to allow us to get into the technology unless it is paid for," said Ken Aagaard, who oversees operations and technology at CBS Sports.

With Panasonic apparently footing the bill, CBS took a swing at streaming 3D into the home with the U.S. Open in late summer, including the men's and women's finals. Going forward, Aagaard said that without sponsors or TV distributors or a broadcast consortium to make it a financial win, or at least a break-even, CBS will be on the sidelines.

With HD, the company spent a colossal amount to upgrade infrastructure with "little return or no return," Aagaard said at an industry event Wednesday. With its 3D caution, CBS still plans one-time offerings of major events. Before the U.S. Open, it offered the Final Four in theaters in March.

"We're going to do the best we can to try to stay in the space, in a way that doesn't cost us any money," Aagaard said at the Paul Kagan event.

CBS would seem to have a reasonable shot at securing pre-game funding. The manufacturers of the fledgling 3D sets are eager to promote them, and the 3D content is obviously a crucial venue. DirecTV, which carried the U.S. Open, has a full 3D channel to program and is hungry for programming.

The satellite operator also offers 3D TV on-demand -- as does Comcast, which placed the broadcast for the Masters that it carried in the spring on a VOD menu nearly as soon as it was over. "We're on the hunt for content, just like DirecTV," said Mark Hess, a Comcast senior vice president.

Also, Anheuser-Busch has shown that marketers outside technology might spend on 3D-casts. It serves as a backer of college football on the ESPN 3D network. Looking to spur more interest, Aagaard spoke to a group of CBS sales executives Wednesday about the potential for 3D TV, hoping they will begin to think about "how can we monetize this ... how is this a sales opportunity for us?"

CBS' more guarded approach contrasts sharply with ESPN, DirecTV and Discovery Communications, which are willing to assume losses in order to establish a 3D beachhead. If Panasonic and Sony's optimism that many people will buy 3D sets comes to fruition, they hope to be a first stop as consumers choose an operator and scan the dial. (Discovery has a forthcoming 3D channel with Sony and IMAX.)

"The ultimate goal is to generate some kind of revenue or offset," said DirecTV programming executive Patricia Ishimoto, suggesting that breaking even will even be difficult.

ESPN is working to lower production expenses that come from a need for separate cameras, infrastructure and announcers for events. ESPN Vice President Anthony Bailey said after years of testing, ESPN feels it has mastered much of the technical challenges in 3D programming, but "we need to work on getting the costs down."

CBS used at least one cost-saving measure at the U.S. Open -- mounting a 3D camera on top of a 2D one, allowing for a single cameraman to shoot for both productions.