As TV programmers look for new revenue streams and ways to bond with fans, CBS Corp. said it has formed an experiential events division called CBS Experiences (or CBSX for short).

The unit will focus on expanding the reach of CBS programming and properties through what the company described as “live, entertaining and interactive encounters.” Rich Lobel will serve as EVP and Managing Director of CBS Experiences. Vinnie Favale, SVP Late Night and Talent Development at CBS Television Studios, will partner with Lobel on the company’s new business. Both will report to Tony Ambrosio, Senior EVP, Chief Administrative Officer at CBS Corporation, on all CBSX matters.

CBSX will present a range of ticketed and sponsored events and touring exhibitions to offer deeper, more immersive experiences for fans, while also gaining new platforms for expanding on its merchandising strategy.

An upcoming example is an October 1 evening at New York’s Town Hall centering on CBS Sunday Morning.

“As marketers continue to place an increasing importance on the value of experiences, the launch of CBSX is an ideal opportunity to leverage our Company’s many assets,” Ambrosio said in the official announcement. “By extending and elevating CBS properties, we have the ability to unlock incremental value, while also enabling consumers and marketers to engage with their favorite entertainment, news and sports brands in a new immersive dimension.”

Ambrosio added, “Rich’s extensive experiential background, coupled with Vinnie’s creative vision and knowledge of CBS properties, talent and events, gives us a winning combination of talent to run and grow this exciting new business for CBS.”

Lobel worked at Live Nation and also created a range of live experiences for marketing partners at the CBS Radio Altitude Group. Favale, who joined CBS in 1996, will add CBSX to his current responsibilities working on talent and program development at CBS Television Studios and as a program executive for The Late Show with Stephen Colbert.