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Jun 30, 2021
Paramount Q2 2021 Earnings Report
ViacomCBS demonstrated strong growth in streaming and advertising revenue, with Paramount+ driving subscriber additions.
Key Takeaways
ViacomCBS reported an 8% increase in total company revenue, driven by substantial growth in streaming and advertising. The company added 6.5 million global streaming subscribers, reaching over 42 million. Paramount+ was a key driver of subscriber growth and engagement.
Global streaming revenue grew by 92% year-over-year, driven by subscriptions and advertising.
Total company revenue increased by 8% year-over-year, with advertising revenue growing by 24% and affiliate revenue by 9%.
Global streaming subscribers reached over 42 million, with 6.5 million subscribers added in the quarter.
Pluto TV's revenue more than doubled for the fourth consecutive quarter, contributing significantly to streaming advertising growth.
Revenue by Segment
Forward Guidance
ViacomCBS is focused on scaling Paramount+'s content offerings and expanding its reach with global audiences. The company recently announced distribution agreements with Charter Communications and Cox Communications and plans to launch Paramount+ in new international markets.
Positive Outlook
- Continued carriage of ViacomCBS content and streaming services through multi-year distribution agreements.
- Expansion of Paramount+ footprint internationally, including key European markets.
- Strong subscriber growth and engagement driven by Paramount+ originals.
- Growth in advertising revenue, driven by CBS' broadcasts of sporting events and an improved advertising market.
- Strong growth in sign-ups and engagement for SHOWTIME OTT, driven by originals.
Challenges Ahead
- Adjusted OIBDA decreased due to increased investment in Paramount+.
- Licensing and other revenue decreased due to the licensing of domestic streaming rights to South Park in the prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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