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Tag: Robert Bakish

  • 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.”

  • Viacom to open production studio in Miami

    Viacom to open production studio in Miami

    MUMBAI: Viacom Inc will open a two-stage, 88,000 square foot, state-of-the-art production facility in Miami, Florida. 

     

    The new studio, which was built by the Miami Omni Community Redevelopment Agency (CRA) as a public-private partnership with EUE/Screen Gems Studios, will serve as a production hub for Viacom’s global entertainment brands including Nickelodeon, MTV and Comedy Central.

     

    “We are creating more content than ever before across all of our brands at Viacom. The Viacom International Studio in Miami will offer a turnkey facility where we can create even more original, high quality content to meet the increasing demand for long-and-short-form content on all of our global platforms,” said Viacom International Media Networks (VIMN) president and CEO Robert Bakish. 

     

    “We have had terrific success with the recent live action productions we have coming from Miami, and we are very excited to be committed to doing more. We are constantly looking for new creative ideas and content formats that allow us to tell stories in a completely different way, and this facility will certainly forward that effort,” added Viacom Kids and Family Group president Cyma Zarghami.

     

    “Viacom has demonstrated again and again that hits come from all over the world. With an established track record of multi-lingual hits including Every Witch Way and Talia in the Kitchen being produced in Miami for multiple audiences simultaneously, in global collaboration with the US and local Latin American teams, we’re excited to have the opportunity to further expand our production capabilities in the market,” said VIMN Americas president and Nickelodeon International EVP Pierluigi Gazzolo.

     

    Located in central Miami, the studio location offers access to a highly skilled, multi-lingual talent pool essential to creating global productions in multiple languages. The facilities will include two modern sound stages equipped to create a variety of content simultaneously, from daily scripted series, music specials and game shows to short form content for mobile, digital and on-air.

     

    “We welcome Viacom as a long-term partner at our new Miami studios. Our company has worked closely with Viacom to develop a facility worthy of a dynamic content producer. Today, we celebrate our relationship with Viacom, and we applaud our partners at the Omni CRA, whose vision and efforts have made this building possible,” said EUE/Screen Gems Studios COO Chris Cooney.

     

    EUE/Screen Gems has entered into a long-term lease with Miami’s Omni CRA to operate the new facility.