Experiencing a robust global streaming revenue growth (+65% YOY) fueled by strong increases in users and product monetization, ViacomCBS’s OTT Paramount+ has added 6 million global streaming subscribers and reached 36 million,while AVOD Pluto TV added the same amount of MAUs and totalized almost 50 million in Q1, 2021.
ViacomCBS delivered a 69% YOY growth in streaming subscription revenue, driven by the significant momentum of its global SVOD operation that will be launched in new territories in the next months, and generated 62% YOY growth in streaming advertising revenue, reflecting the continued domestic growth and international expansion of Pluto TV.
Bob Bakish, President &CEO of the company, said: ‘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 – we have grown global streaming revenue 65 percent year-over-year and we added 6M global streaming subscribers, driven by Paramount+, to reach 36M streaming subscribers globally. In addition, we now have almost 50M global Pluto TV MAUs’.
‘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’, he concluded.
Advertising revenue, which excludes streaming revenue, grew 21% YOY, driven by CBS’ broadcasts of Super Bowl LV and NCAA Tournament games, which were partially offset by lower linear impressions.Affiliate revenue, which excludes streaming revenue, increased 5% YOY, reflecting higher reverse compensation and retransmission fees, as well as expanded distribution, partially offset by a decline in cable subscribers.
CBS was the most-watched network in Prime, Daytime and Late Night and claimed the quarter’s top broadcast program, top 3 dramas, top 5 comedies and top news magazine.Revenue grew 19% mainly driven by CBS’ broadcasts of tentpole sporting events and subscriber growth at Paramount+, partially offset by the timing of licensing.Licensing and other revenue decreased 17% due to a lower volume of licensing principally from COVID-related production delays.
