Ad Sales, Streaming Fuel ViacomCBS Q2 Profit
“We continued to accelerate our global streaming momentum and delivered phenomenal results across our flagship streaming services,” said ViacomCBS CEOin a prepared statement, adding: “Looking ahead, we’re excited about our opportunity to build on this momentum, as we scale Paramount Plus’ content offerings across genres and expand our reach with global audiences.”
Under terms of the deal struck with Comcast, Paramount Plus will launch on Sky properties in the United Kingdom, Ireland, Italy Germany and Austria in 2022, as part of a multi-year carriage contract that includes distribution of ViacomCBS’ pay-TV channels as well as Sky being included in ad sales efforts in certain markets.
ViacomCBS said ad revenue from traditional operations alone rose 24% to nearly $2.1 billion, largely due to the presence of more sports telecasts than in the year-earlier period, which was affected more strongly by the coronavirus pandemic. Affiliate fees rose 9% to around $2.1 billion as well. Ad revenue from streaming more than doubled, as marketers spent on new venues like Paramount Plus and Pluto.
Revenue from film operations grew 3% to $667 million, driven partially by the release of “A Quiet Place Part II.”
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