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Tag: ViacomCBS

  • ViacomCBS buys 49% of Miramax

    ViacomCBS buys 49% of Miramax

    MUMBAI: ViacomCBS will acquire a 49 per cent stake in Miramax, the Los Angeles-headquartered entertainment company which has been into production and distribution of films and TV shows. beIN Media Group-owned Miramax Films is a renowned global studio with some of the iconic films in its kitty, which include No Country for Old Men, Pulp Fiction, Good Will Hunting, and Kill Bill.

    Under the deal, ViacomCBS will make a cash payment of around $150 million. Also, it will invest $45 million per year over the next five years, totalling $225 million, as working capital for new film and TV productions.

    Both BeIN and ViacomCBS would seek more strategic partnership opportunities in content production and distribution. The deal gives the duo further opportunities for combined distribution of new and old library content.

    Miramax leadership will remain the same.

    ViacomCBS CEO Bob Bakish said: "This partnership with BeIN will be a unique opportunity to gain access to a valuable library, deepening our already substantial pool of IP at a time when demand for premium content is only accelerating. We look forward to working closely with the Miramax management team as we explore new ways to deliver its titles across a variety of platforms and create new, compelling projects."

    Said Nasser Al-Khelaifi, chairman of BeIN: "This represents a major investment in and endorsement of our thriving Miramax business, which has grown in value under BeIN Media Group’s ownership and has a fantastic future ahead with major new movies and unexploited premium dramas. We are thrilled to partner with ViacomCBS and Paramount to explore further opportunities around Miramax's iconic IP, and also at group level, while substantially increasing the scale of our entertainment business."

  • ViacomCBS reports $6.871 bn revenue in Q4

    ViacomCBS reports $6.871 bn revenue in Q4

    MUMBAI: ViacomCBS today reported financial results for the quarter and full year ended 31 December. The company’s full year revenue increased 2 per cent, driven by growth in advertising, affiliate and content licensing. Significantly, it reported the first quarterly earnings as a combined company.

    ViacomCBS reported $6.871 billion revenue compared to $7.092 billion in the same quarter of 2018, down by three per cent. The company also mentioned in a press release that transitional Q4 included merger-related expenses. For the full year, it reported revenue of $27.812 billion.

    “In less than three months since completing our merger, we have made significant progress integrating and transforming ViacomCBS. We see incredible opportunity to realise the full power of our position as one of the largest content producers and providers in the world. This is an exciting and valuable place to be at a time when demand for content has never been higher, and we will use our strength across genres, formats, demos and geographies to serve the largest addressable audience, on our own platforms and others,” ViacomCBS president and CEO Bob Bakish commented.

    ‘In 2020, our priorities are maximising the power of our content, unlocking more value from our biggest revenue lines and accelerating our momentum in streaming. With this as a backdrop, we’ve set clear targets for the year and are providing increased transparency around our business to demonstrate ViacomCBS’ ability to create shareholder value today, as we continue evolving and growing our business for tomorrow,” he added.

    In the quarter, affiliate revenue increased one per cent, as strong growth in reverse compensation, retransmission and subscription streaming revenue more than offset declines in the pay TV landscape. Domestic advertising revenue was affected by significant declines in political advertising compared with the prior-year quarter. Domestic Cable Networks’ advertising revenue grew  nine per cent while content licensing revenue declined 11 per cent due to the timing and mix of deliveries.

    On the full year basis, advertising revenue increased two per cent, driven by five per cent growth in domestic advertising sales, reflecting CBS’ broadcasts of Super Bowl LIII and the NCAA Division I Men’s Basketball Tournament’s national semifinals and championship games, as well as higher revenues from Advanced Marketing Solutions which includes Pluto TV, partially offset by lower political ad spend.

    Affiliate revenue grew three per cent, fueled by 20 per cent growth in reverse compensation and retransmission, as well as strong subscription streaming revenue, which more than offset declines in pay TV subscribers.

    Content licensing revenue rose five per cent, reflecting higher revenues from licensing library and original production to third parties. Domestic streaming and digital video business – which includes subscription revenue and digital video advertising – generated approximately $1.6 billion in revenue.

  • Viacom tops earning estimates in Q4; reports revenues of $3.43 billion

    Viacom tops earning estimates in Q4; reports revenues of $3.43 billion

    MUMBAI: Viacom Inc topped earnings estimates in its fourth quarter earnings reporting revenues of $3.43 billion. The company adjusted earnings of 79 cents per share in the quarter.

    Revenues of the company surpassed Zacks Consensus Estimate by 0.4 per cent and earnings per share beat the Zacks Consensus Estimate by 3.9 per cent. The company’s domestic advertising revenue rose 6 per cent for the quarter and 1 per cent for the full year.

    “Our strong performance in the fourth quarter capped off a pivotal year for Viacom and reflects the successful execution of our strategic priorities to evolve the company for the future. We achieved several important milestones. First, we grew domestic ad sales for the full year, driven by the continued acceleration of Advanced Marketing Solutions,” Viacom president and CEO Bob Bakish said.

    “We also grew full year domestic affiliate revenue, driven by the extended reach of Viacom's distribution across more viewing platforms. And, for the first time in four years, we returned Paramount to full year profitability – a testament to the strength of our strategy and content slate. As we look to the future of a combined ViacomCBS, we’re thrilled with the momentum we have to create one of the world’s preeminent content companies,” he added.

    Viacom Media Networks achieved full year growth in domestic advertising and affiliate revenue, driven by continued acceleration in Advanced Marketing Solutions and advancement in Viacom’s distribution strategy.

    At 30 September , Viacom’s gross debt outstanding was $8.74 billion, a 13 per cent reduction from 30 September, 2018 and adjusted gross debt was $8.09 billion.