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Tag: ViacomCBS

  • Bob Bakish, ViacomCBS and the streaming war

    New Delhi: Over the last few weeks, a spate of mergers and acquisitions has taken the media and entertainment industry by storm. First WarnerMedia and Discovery, then Amazon and MGM – as the streaming war intensifies, US media giant ViacomCBS is also gearing up for a tough race, building one of the largest and diversified content slates.

    “We have what it takes to succeed in streaming. We spend about $15 billion a year on content, which makes us one of the largest producers of content on the planet. And all of that increasingly feeds our streaming ecosystem,” said ViacomCBS president and CEO, Bob Bakish at the first inaugural TMT Conference held virtually on Monday.

    The short and stocky Bakish said that ViacomCBS is in a good place in the streaming space. Free advertising-supported streaming television (FAST) service Pluto is on course to cross a billion dollars in revenue in 2021, despite all the scoffing from critics, who said he was putting $340 million into a lousy investment two years ago, as it had just 12 million monthly actives and $70 million in revenues then. Today, it has more than 50 million monthly actives and is present in more than 25 markets in the US, and is expected to roll out in more cities and states soon, and internationally thereafter.

    Of course, its Paramount+ (earlier called CBS All Access) premium service added six million new streaming subscribers in the first quarter of 2021, reaching a total of 36 million global streaming subscribers. While Pluto and Paramount+ delivered streaming revenue growth of 65 per cent year-over-year, the company expects the income uptick to accelerate in the second quarter, based on its differentiated strategy and tremendous momentum.

    Bakish is also quite sanguine that the recently launched Paramount+ Essential plan priced at $4.99 (which will show ads to viewers) will help expand its user base as well as give a leg up to advertising revenues going forward. Said he: “..given what we know about elasticity, we feel this lower price point of $4.99 will broaden the addressable market for Paramount+. …it also offers us another opportunity to serve the rapidly growing premium digital ad market… as we look at this product and the dynamics of the ad market, we actually believe analytically that the $4.99 version can generate higher average revenue per user (ARPU) over time than our $9.99 product. So we think that’s tremendously compelling because it – again, it broadens the consumer base and it drives higher ARPU.”

    Streaming is still an early stage media business in general and certainly for ViacomCBS and the company’s strategy is to focus on usage, then revenue. “Right now, we’re building the base”, he said. “The ad growth has increased in the last three quarters and expect another quarter of strong double-digit ad growth in Q2 largely because the demand continues to improve and scatter pricing is really at all-time highs.”

    A proven hit-maker when it comes to content across formats and genres, ViacomCBS has been investing heavily in content. Its content production capability is driving the rapidly growing slate of exclusive originals on Paramount+.

    “We have talked about these numbers even before our capital raise, 36 original series this year, going over 50 next year, a large volume of movies, particularly in ‘22. And its content at that level of quality and scale is ultimately what drives success in streaming. It is an extremely scarce and valuable asset and it is the core of what ViacomCBS is,” averred Bakish.

    ViacomCBS is driving significant subscribers and increasing engagement, but it is also seeing churn come down and the average age comes down materially, according to Bakish. All of those metrics have improved since our Paramount+ launch, he added.

    Sports continue to be an important part of its strategy, which includes the NFL, the SEC on the football side, golf, UEFA, women’s soccer on the European football side. Most recently, it added some incremental international soccer rights. “We just had Paramount+ the UEFA 2021 Champions League Final. It was the most streamed non-NFL sporting event ever for us,” he added.

    Amid the increasing transformation from the linear to the digital side, Bakish said, all of its cable brands have exclusive originals in linear, including events, which supports the value proposition. “We closed multiple deals, including with Comcast, with Verizon, with YouTube, with Hulu. None of these are walk-in-the-park companies,” he added.

    With an incredible slate coming, and many more originals and films ramp up, the entertainment giant is expecting streaming revenue growth to accelerate in Q2 relative to what was posted in Q1 to compete with the likes of Netflix and Disney+ in the streaming arena. A part of its ambitious plan is to make Paramount+ available in 45 markets by the end of 2022 and have up to 75 million streaming subscribers globally by 2024. 

    “And in addition to the general market, we are seeing the benefit of truly going to market as a combined company. And that creates a real advantage for us because we have the scale and reach both in high-quality, brand-safe, digital environments and in the linear side. And in addition to that, we have these must-have offerings, the NFL, Primetime, Late Night, tentpoles, diverse audiences. So the ad market is looking very good to us. Our company is connecting with it. Our IQ product is a big part of our strategy, and that combines all our high-quality digital. We’re seeing tremendous growth there,” said the ViacomCBS president.

  • ViacomCBS adds 6 million global subscribers to reach 36 million mark

    ViacomCBS adds 6 million global subscribers to reach 36 million mark

    New Delhi: ViacomCBS added six million new streaming subscribers in the first quarter of 2021, reaching a total of 36 million global streaming subscribers said the company on Friday, while reporting financial results for the quarter ended 31 March.

    The entertainment giant delivered 69 per cent year-over-year growth in streaming subscription revenue, largely driven by the significant momentum of Paramount+. The year-over-year growth in streaming advertising revenue was 62 per cent, reflecting the continued domestic growth and international expansion of advertising supported streaming service Pluto TV.

    ViacomCBS’ cable networks unit also grew quarterly revenue 14 per cent to $3.26 billion.

    “In Q1, we accelerated our expansion in streaming with the launch of Paramount+ further enhancing ViacomCBS’ ecosystem of premium, pay and free services. The strong consumer response we have seen is evident in today’s numbers. In addition, we now have almost 50 million global Pluto TV MAUs,” said president and CEO Bob Bakish.

    On Paramount+, the biggest drivers of sign-ups were live sports and specials, including the Super Bowl, NCAA Tournament, UEFA Champions League, Oprah with Meghan and Harry and The Grammy Awards, as well as kids’ content, and original programming, including The Stand and Star Trek: Discovery. Globally, Nickelodeon programming was a significant driver of sign-ups and engagement on Paramount+.

    Showtime OTT delivered its best quarter ever in signups, streams and hours watched, driven by originals, including Your Honor and Shameless, as well as theatricals, said the company.

    “Our early momentum in streaming is a testament to the breadth and relevance of our differentiated offerings, as well as our opportunities for growth through Paramount+, as we continue to ramp the availability of live sports, original series and blockbuster movies over the course of the year. ViacomCBS also achieved another strong quarter of results in our advertising and affiliate businesses, which continue to demonstrate the extraordinary power of our company to reach audiences and deliver for our partners globally,” added Bakish.

    Paramount+ will be available in 45 markets by the end of 2022, said the company, which expects to have up to 75 million streaming subscribers globally by 2024. Management has ambitious plans to compete with the likes of Netflix and Disney+ in the streaming arena, and to direct billions of dollars into content investment for its services in the coming years.

  • Raffaele Annecchino is new ViacomCBS president & CEO

    Raffaele Annecchino is new ViacomCBS president & CEO

    MUMBAI: ViacomCBS has appointed Raffaele Annecchino as ViacomCBS Networks International (VCNI) president and CEO, with immediate effect. He succeeds David Lynn, who is stepping down and will depart the company following a transition period.

    In his new position, Annecchino will handle all of ViacomCBS’s media networks and related businesses outside the US. He will also be responsible for a portfolio of pay-TV entertainment brands and broadcast networks across six continents – including Channel 5 in the UK, Telefe in Argentina, Network 10 in Australia and Colors in India through a joint venture with Viacom18 – and work closely with ViacomCBS’s global streaming organisation to manage the rollout of Pluto TV and the launch of Paramount+ in 2021. Annecchino will report to ViacomCBS president & CEO Bob Bakish.

     “Annecchino is an entrepreneurial, results-oriented leader with a proven ability to transform businesses and drive growth across diverse markets,” said Bakish. “In recent years, Annecchino has taken on increased responsibility, demonstrating strategic and operational expertise that extends across a wide variety of geographies and platforms. His experience in expanding ViacomCBS’s international footprint, forging key partnerships and accelerating our push into mobile and digital platforms will be critical to building on our leadership positions across Europe, Latin America and Asia and realising our global ambitions.”

    On Lynn’s departure, Bakish added, “I want to extend my deepest thanks to David for his many contributions over the past two decades, from integrating the international portfolios of CBS and Viacom to overseeing the launch of Viacom International Studios, including the acquisition of Ananey and repositioning the division to enable the continued expansion of our global streaming offerings. I’m grateful for his dedication and leadership and wish him the best as he starts this next chapter.”

    “It’s an honour to step into this role and help continue ViacomCBS’s strong momentum around the world,” said Annecchino. “We have an exciting opportunity to broaden the company’s reach through new, innovative distribution channels and partnerships, and I look forward to working with Bob and the rest of the team to execute against our growth initiatives.”

    During his 23-year tenure, Annecchino has held a number of positions across VCNI. Until now, he served as president of ViacomCBS Networks Europe, Middle East, Africa and Asia (EMEAA), during which time he oversaw operations across a range of markets and led and coordinated VCNI’s mobile strategy globally.

    Prior to joining MTV Networks International in 1997, Annecchino worked at Turner International, Cartoon Network and CNN. 

  • ViacomCBS Q3 results: Growth in streaming business

    ViacomCBS Q3 results: Growth in streaming business

    New Delhi: ViacomCBS delivered better-than-expected profit and revenue in Q3 on the back of robust growth in streaming, with domestic subscribers rising to 17.9 million up 72 per cent year-on-year (YoY).

    The mass media company's total revenue declined 9 per cent to $6.12 billion, but this was higher than market projections of $5.94 billion

    It also raised its annual paid subscriber forecast for its streaming services, after nearly hitting its previous target a full quarter ahead of time on strong demand for indoor entertainment during the pandemic.

    The streaming services registered significant growth in sign-ups, the company said, as CBS All Access benefited from strong demand for sports content and Showtime OTT from shows like The Chi and Billions.  It now expects to hit 19 million domestic subscriptions by the year-end for its streaming services, CBS All Access and Showtime, compared to its earlier estimate of 18 million.

    Revenue from streaming and digital video surged 56 per cent to $636 million in the third quarter, helped by a more than doubling of ad sales from its free, ad-supported Pluto TV.

    Pluto TV Domestic MAUs also increased to 28.4M, up 57 per cent YoY.

    ViacomCBS competes in a crowded US video streaming market with dominant players such as Netflix with close to 200 million global customers and Walt Disney Co, which has more than 100 million global paid customers for its streaming platform.

    Overall advertisement revenue, however, fell 6 per cent but improved from a 27 per cent plunge in the second quarter.

    Revenue in the company's filmed entertainment division, which includes Paramount Pictures, tumbled 31 per cent, primarily due to lower licensing revenue and theatre closures including limited seating, across the US and Europe.

    The company is on track to debut Paramount+ in early 2021 as a differentiated offering spanning live sports, breaking news and entertainment, including new and franchise-based originals.

    Excluding items, the company earned 91 cents per share, beating estimates of 80 cents.

  • ViacomCBS launches new kids division

    ViacomCBS launches new kids division

    MUMBAI: ViacomCBS International Studios (VIS), part of ViacomCBS Networks International (VCNI), is all set to launch a new kids content division and has appointed Nickelodeon executive Nina Hahn to head the operations.

    Viacom said that VIS Kids will allow for the expansion of the studio’s global kids content pipeline, further broadening its offering to include short and long form content that will be produced and sold to third parties, in addition to ViacomCBS brands and platforms.

    From London, Hahn will hold her current role as SVP of production & development at Nickelodeon International. In the meantime she will be taking on the additional responsibilities as head of VIS Kids.

    Hahn will closely work with ViacomCBS International Studios and ViacomCBS Networks Americas president Juan Acosta. She will continue to report to VCNI kids and family EVP Jules Borkent.

    “VIS has an existing footprint in the kids arena with successful series like Club 57 and Noobees, so we felt it’s time to launch our own kids division of ViacomCBS International Studios. Nina has been a driving force behind many of Nickelodeon’s ground-breaking and award-winning series across the globe, and I am confident she will build on VIS’ momentum at the helm of VIS Kids,” said Acosta.

    Hahn added, “I’m honoured to be heading up VIS Kids and plan to establish deep, diverse and inclusive roots in kids content.”

  • Streaming successfully, the ViacomCBS way

    Streaming successfully, the ViacomCBS way

    MUMBAI: A couple of weeks ago, ViacomCBS CEO Bob Bakish announced a new international streaming service – replacing CBS All Access –  which would be launched in the first phase  in Australia, Latin America and  the Nordics in 2021. It would be the second streaming service under the Viacom-CBS umbrella, the first being the free streamer Pluto TV, which it acquired in 2019 for $340 million.

    Speaking at APOS yesterday ViacomCBS Networks International (VCNI) president & CEO David Lynn said that “Asia is a significant territory, the markets there are extremely advanced in OTT and streaming. However, we have not decided on the markets. What differentiates us is the free play we have through Pluto and the paid one through the super streamer we are planning. Having two products allows us the flexibility to decide what plays out where. Indonesia is an advertising- based market whereas Japan is subscriber-oriented. What we know is that the partnerships we have had with mobile in those regions are going to be important, particularly around 5G, and we can work with the operators to market that service.”

    He additionally sees opportunities in Asia for Noggin, the preschool kids services which have been launched internationally on Amazon and Apple channels.

    Lynn revealed that in India, ”Viacom-CBS has a very material successful business in Viacom18 that has been built out over more than a decade. That business-like several other businesses has had the impact of Covid2019, but we are beginning to move past that. We are seeing our production ramp-up again, we are seeing viewership follow the new production and we are seeing the ad markets recovering.”

    He further explained that the strategy for India is similar to the international streaming strategy.  “We have a very successful leading free streaming service in Voot. Then we have a premium paid premium service called Voot Select, which has got off to a significant start,” he said. “The core business is very strong, the move into streaming presents a huge opportunity and is off to a successful start, and not the least because of our partnership with Reliance and their ownership of Jio which is an incredible driver of streaming. “

    Clearly, even as different publications have been going to town writing for the past two years – and more aggressively recently – about the impending merger of Sony with Viacom18, Lynn did not once mention that any such talks were on.

    Lynn further expressed that the new global subscription OTT will have an output premiere deal with Showtime, CBS-All Access, content from Paramount Pictures, MTV, Nickelodeon and Comedy Central. “It is going to be a supersized streaming service,” he said. “With the massive content from Viacom-CBS. “

    Lynn revealed that the 30 countries that Viacom-CBS has operations in and the assets, and relationships, the local content will be leveraged to push the super- sized streaming service.  “We want to become a material player from the advertising, subscription and licensing perspectives and become a market leader in streaming internationally,” he stated.

  • Nickelodeon International and Nickelodeon India announce first coproduction, The Twisted Timeline of Sammy & Raj

    Nickelodeon International and Nickelodeon India announce first coproduction, The Twisted Timeline of Sammy & Raj

    MUMBAI: Nickelodeon International is teaming up with Nickelodeon India, a part of Viacom18 that is a joint venture between ViacomCBS and Network18, to co-produce The Twisted Timeline of Sammy & Raj. The new series marks the first collaboration between the top kids’ entertainment brand and the leading Indian kids’ category brand from India’s fastest growing entertainment network.

    Currently in production with Nickelodeon India of Viacom18, The Twisted Timeline of Sammy & Raj is slated to roll out across Nickelodeon International in 2021. With a mysterious time-altering app at their fingertips, the series follows the reality-bending adventures of a pair of cousin-brothers, as they pause, rewind, fast-forward and slow-motion their way into a whole host of rowdy laugh-out-loud exploits.

    The international collaboration is underway on the new 20 x 30-minute 2D animated series, with animation and storyboards developing in India, scripting in progress in the US and UK, and casting initiated in the US  

    “The popularity of international content is on the rise, and Nickelodeon is focused on meeting the rising demand for diverse, creative stories for a global audience. This groundbreaking partnership with Viacom18 goes beyond kids’ content, as we look to embrace greater diversity both on-screen and behind the camera,” said ViacomCBS Networks International kids and family executive vice president Jules Borkent.

    Nickelodeon International production and development senior VP Nina Hahn said, “In the creative world, geographic borders have diminished, as more content is drawn by the hands of global artists from every corner of the world. The idea for this series was developed in collaboration with the team in India as we sought a way to fuse western and eastern storytelling elements. Indian culture is very much a part of this series’ DNA, and we are eager to share those elements with our global audience.”

    Viacom18 Hindi mass entertainment and kids TV network head Nina Elavia Jaipuria said, “Over the years, Nickelodeon India has created successful local IPs and characters that kids love. This partnership with Nickelodeon International has gone beyond the borderlines of creativity and stands testimony to the success of Nick India and Nick International in creating groundbreaking content. It further reinforces the capability of the Indian Animation Industry. We are happy to partner with Nickelodeon International for this show and look forward to working together in creating this series for kids across the world.”

    Viacom18 kids TV network content and research creative head Anu Sikka said, “Kids imaginations and aspirations are universal and it’s this learning that has brought this show to life. The series will be showcasing stories that kids around the world will find relatable and engaging, hopefully opening up more opportunities for future collaboration. Our efforts are to make sure that kids get to experience the best of animation and that this show will stir their imagination and transport them into a new world of adventure.”

    Nickelodeon International animation VP Chris Rose and Viacom18 kids TV network content and research creative head  Anu Sikka are overseeing the project. The head writer of the series is Jordan Gershowitz.

  • ViacomCBS Consumer Products launches global reusable face masks

    ViacomCBS Consumer Products launches global reusable face masks

    MUMBAI: ViacomCBS Consumer Products today announced it has entered into agreements with multiple global licensees to create face masks featuring iconic characters from many popular Nickelodeon properties including SpongeBob SquarePants, which is available now at the SpongeBob Shop, as well as PAW Patrol, Blue’s Clues & You! and JoJo Siwa. The reusable masks, which are not for medical use, will be available through major retail outlets worldwide later in the summer.

    “ViacomCBS is proud to support Save the Children and its COVID-19 Global Response by donating 100 per cent of our proceeds from this new face mask initiative,” says ViacomCBS Consumer Products president Pam Kaufman. “During this unprecedented time, we hope Nickelodeon’s beloved characters and iconic brands will provide solace and ultimately make these new circumstances more manageable.”

    “We are grateful to ViacomCBS for choosing Save the Children as one of its charity partners for this campaign, which will raise vital funds to support children hardest hit by the COVID-19 pandemic,” said Save the Children president and CEO Janti Soeripto. “As the virus continues to take hold around the world, we are seeing its devastating impact on children’s lives everywhere, especially among children already at risk. From Appalachia to the refugee settlement camps in Lebanon, South Sudan and Bangladesh, the pandemic has uprooted children’s routines, disrupted their schooling and is affecting their mental health and well-being.”

    Save the Children, the world’s leading humanitarian organization for children, is keeping kids in the US and around the world healthy, educated and protected during the Covid2019 crisis. The organization is working in communities to provide food, learning resources, healthcare, and hygiene information and training to reduce the spread of the virus. All ViacomCBS proceeds from the sales of Nickelodeon face masks will benefit Save the Children’s Covid2019 Global Response and will be redistributed to the region where the mask was purchased. Many licensees producing Nickelodeon face masks have also committed to make charitable contributions to Save the Children.

    Face masks with imagery across the brand portfolio of adored ViacomCBS properties including the Star Trek franchise and programs across MTV and CBS are available on sites including MTVShop/ WildnOutShop, CBSStore and StarTrekShop. Proceeds from these ViacomCBS properties will go to charities that align with each brand.

    ViacomCBS Consumer Products (VCP) oversees all licensing and merchandising for ViacomCBS Inc., a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, VCP's portfolio includes a diverse slate of brands and content from BET, CBS (including CBS Television Studios and CBS Television Distribution), Comedy Central, MTV, Nickelodeon, Paramount Pictures and Showtime. With properties spanning animation, live-action, preschool, youth and adult, VCP is committed to creating the highest quality product for some of the world's most beloved, iconic franchises. Additionally, VCP oversees the direct-to-consumer online business for CBS' programming merchandise, as well as standalone SpongeBob, MTV, Star Trek and Showtime branded ecommerce websites.

  • ViacomCBS and Google announce expanded distribution agreement

    ViacomCBS and Google announce expanded distribution agreement

    MUMBAI: ViacomCBS and Google have announced a comprehensive, multi-year distribution agreement to deliver more content from ViacomCBS’ leading portfolio of news, entertainment and sports networks for YouTube TV subscribers. In addition to featuring continued carriage of CBS broadcast stations, CBS Sports Network, Pop TV, Smithsonian Channel, and The CW, the expanded agreement introduces 14 ViacomCBS channels to the live TV and on-demand subscription service.

    BET, CMT, Comedy Central, MTV, Nickelodeon, Paramount Network, TV Land and VH1 will launch on YouTube TV this summer, providing more than two million subscribers with access to some of the most popular cable brands. BET Her, MTV2, Nick Jr., NickToons, TeenNick and MTV Classic will also launch on YouTube TV at a later date.

    The deal also includes a continued commitment to distribute ViacomCBS’ premium subscription services, including SHOWTIME, on YouTube TV, as well as an extended partnership on the broader YouTube platforms.

    “We are thrilled to have reached an expanded agreement with YouTube TV that recognizes the full power of our newly combined portfolio as ViacomCBS,” said Ray Hopkins, president, US Networks Distribution, ViacomCBS. “Google has been an excellent partner, and we look forward to bringing even more of our entertainment networks to YouTube TV subscribers for the first time.”

    "We're excited to launch ViacomCBS' portfolio on YouTube TV this summer, " said Lori Conkling, global head of partnerships at YouTube TV. "Our expanded partnership delivers on our promise to offer a premium portfolio of content to our YouTube TV subscribers, as well as across the YouTube platforms."

     YouTube TV is a subscription streaming service that lets you watch live and on-demand TV from 70+ top networks through a simple and award-winning experience. It offers live & local sports, news, shows, movies, and more, and can be watched on any screen (phone, tablet, TV, computer). Membership comes with free unlimited cloud DVR storage space to record all your favourites, personalized watch recommendations, and a family plan with 6 accounts per household so the whole family can enjoy.

    Financial terms of the agreement were not disclosed.

  • ViacomCBS launches COVID-19 relief fund

    ViacomCBS launches COVID-19 relief fund

    MUMBAI: ViacomCBS has introduced a $100-million fund to support those who have been affected by the production shutdown on account of the COVID-19 pandemic, says a report by Variety. The fund – aimed at helping actors, filmmakers and crew members who have been bearing the brunt of the production shutdown – will also support grants by The Actors Fund and Motion Picture & Television Fund.

    Earlier, companies like WarnerMedia ($100 million), Comcast ($500 million) and Sony ($100 million) launched relief funds to help workers impacted by the pandemic.

    ViacomCBS president-CEO Bob Bakish said in a note to the staff that in these uncertain times, giving back and supporting “the well-being of our families, communities, and ourselves is more important than ever. And I couldn’t be prouder of how our company has come together to provide relief and support to those who need it.”

    The entertainment company has also launched an employee matching gifts programme.