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Paramount
🇺🇸 NASDAQ:PARA
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•
Mar 31, 2021

Paramount Q1 2021 Earnings Report

ViacomCBS reported strong Q1 2021 earnings, driven by substantial growth in global streaming revenue and subscribers, as well as solid performance in advertising and affiliate businesses.

Key Takeaways

ViacomCBS reported a strong first quarter in 2021, marked by a 14% increase in revenue, driven by a 65% surge in global streaming revenue. The company added 6 million global streaming subscribers, reaching a total of 36 million, fueled by the momentum of Paramount+. Advertising revenue, excluding streaming, grew by 21%, and affiliate revenue increased by 5%.

Global streaming revenue increased by 65% year-over-year, driven by user growth and monetization.

6 million global streaming subscribers were added, reaching a total of 36 million subscribers, boosted by Paramount+.

Global Pluto TV MAUs increased by 6 million to reach nearly 50 million.

Advertising revenue, excluding streaming, grew by 21% year-over-year, driven by CBS' broadcasts of Super Bowl LV and NCAA Tournament games.

Total Revenue
$7.41B
Previous year: $6.67B
+11.1%
EPS
$1.52
Previous year: $1.13
+34.5%
Adjusted OIBDA
$1.63B
Previous year: $1.26B
+28.8%
Gross Profit
$3.05B
Previous year: $2.6B
+17.1%
Cash and Equivalents
$5.5B
Previous year: $589M
+833.6%
Free Cash Flow
$1.59B
Previous year: $305M
+421.0%
Total Assets
$54.8B
Previous year: $49B
+11.7%

Paramount

Paramount

Paramount Revenue by Segment

Forward Guidance

ViacomCBS is focused on expanding its streaming services, particularly Paramount+, with plans to increase the availability of live sports, original series, and blockbuster movies throughout the year. The company aims to leverage its broad content offerings and partnerships to drive further growth in streaming subscribers and revenue.

Positive Outlook

  • Continued expansion of Paramount+ with new content and features.
  • Leveraging live sports and special events to attract subscribers.
  • Growing global Pluto TV MAUs through international expansion.
  • Focusing on original programming and content from cable brands to drive subscriber engagement.
  • Capitalizing on the power of advertising and affiliate businesses to reach audiences globally.

Challenges Ahead

  • Potential impact of changes in consumer behavior and evolving technologies.
  • Increased costs for programming, films, and other rights.
  • Competition for content, audiences, advertising, and distribution.
  • Potential for loss of carriage or other reduction in the distribution of content.
  • Evolving business continuity, cybersecurity, privacy, and data protection risks.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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