ITV

Tag: Q3 2021

  • ViacomCBS quarterly global streaming revenues cross $1 billion mark

    ViacomCBS quarterly global streaming revenues cross $1 billion mark

    Mumbai: ViacomCBS global streaming revenue surpassed $ one billion for the first time in the third quarter 2021 with a growth of 62 per cent year-on-year. The company added 4.7 million net subscribers during the quarter reaching nearly 47 million subscribers. This includes the streaming platforms Paramount+, Showtime, BET+ and Noggin.

    The company saw 79 per cent growth YoY in streaming subscription revenue. It generated 48 per cent YoY growth in streaming advertising revenue, largely driven by Pluto TV, which grew global monthly active users (MAUs) to over 54 million and revenue by 99 per cent YoY. In terms of monetization, global streaming subscription ARPU increased 8 per cent year-over-year.

    The company’s total revenue was up by 13 per cent for the quarter ended 30 September at $6.6 billion. The pace of subscriber growth has slowed compared to the previous quarter when the company added 6.5 million new additions across its streaming services.  

    The company attributed the growth of subscribers and consumption on Paramount+ on its diverse global content offering including “A Quiet Place Part II,” “Paw Patrol: The Movie,” the return of the NFL, and the New CBS Fall Season.

    “The strength and momentum of both Paramount+ and Pluto TV are clearly evident, and demonstrate the power of the strategy we laid out at our investor event earlier this year,” said ViacomCBS president and chief executive officer Robert Bakish. “To that end, I want to remind you of three key enablers driving the ViacomCBS strategy, all of which we’re seeing in action. First, an incredible breadth and depth of compelling content which is critical to attracting and retaining consumers globally; second, robust distribution and marketing, which ensures we can build the broadest reach and awareness; and third, a strong and flexible financial engine to enable streaming investment, drive RoI and maximize shareholder value.”

    Adding further, he said, “As the leading free ad-supported streaming TV service on the market, Pluto TV is winning in both scale and engagement, and it will be a $1 billion revenue business this year.”

  • Disney reports 174 million paid subscribers at the end of third quarter 2021

    Disney reports 174 million paid subscribers at the end of third quarter 2021

    Mumbai: The Walt Disney Company reported 174 million paid subscribers across Disney+, Hulu, and ESPN+ at the end of the third quarter 2021. Direct-to-consumer revenues for the quarter increased 57 per cent to $4.3 billion, the entertainment conglomerate said.

    The company noted that the average monthly revenue per paid subscriber for Disney+ decreased from $4.62 to $4.16 due to a higher mix of Disney+ Hotstar subscribers in the current quarter compared to the same quarter last year.

    Disney+ reported a higher operating loss due to programming, production, marketing and technology costs which was offset by the increase in subscription revenue. The higher subscription revenue reflected subscriber growth and increases in retail pricing. The increases in costs and subscribers reflected the ongoing expansion of Disney+ including launches in additional markets.

    The international channel revenues for the quarter increased by 29 per cent to $1.4 billion and operating income decreased 23 per cent to $169 million. The decrease in operating income was due to higher programming and production costs which were offset by advertising revenue growth due to increases in average viewership and rates. The return of live sports events, primarily Indian Premier League cricket matches, drove increases in average viewership, programming, and production costs.

    “We ended the third quarter in a strong position, and are pleased with the company’s trajectory as we grow our businesses amidst the ongoing challenges of the pandemic,” said The Walt Disney Company, chief executive officer, Bob Chapek. “Our direct-to-consumer business is performing very well, with a total of nearly 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of the quarter, and a host of new content coming to the platforms.”

    “Although most film and television production resumed beginning in the fourth quarter of 2020, we continue to see disruption of film and television production,” Chapek added.