Tag: Bob Bakish

ViacomCBS—which is rebranding as Paramount effective today—reported a 16 percent boost in revenues for Q4, driven in part by gains in its streaming business, which took center stage at the company's Investor Day yesterday.

Total third-quarter revenues at ViacomCBS rose 13 percent to $6.6 billion, including a 62 percent bump in streaming revenues to $1.08 billion.

With ad revenues bouncing back and gains in its streaming business, ViacomCBS's second-quarter revenues were up 8 percent to $6.6 billion.

First-quarter revenues at ViacomCBS were up 14 percent to $7.4 billion, driven by ad revenue gains from coverage of the Super Bowl and a 65 percent increase in streaming revenues.

Revenues at ViacomCBS rose by 3 percent in the fourth quarter to $6.9 billion, delivering net earnings from continuing operations of $783 million.

U.S. streaming and digital video revenues were up 56 percent year-on-year for ViacomCBS in the third quarter, with subscribers up 72 percent to 17.9 million.

Gains in affiliate and streaming revenues at ViacomCBS in Q2 helped to partially offset a 27-percent drop in advertising revenues due to the COVID-19 pandemic.

Bob Bakish, the president and CEO of ViacomCBS, discussed the company’s approach to expanding its streaming businesses, free and pay, in conversation with Media Partners Asia’s Vivek Couto on day one of the APOS 2020 Virtual Series.

The merger of CBS Corporation and Viacom is now complete, with ViacomCBS CEO Bob Bakish calling it a "historic moment" for the media industry.

Viacom reported stronger U.S. ad revenues and gains in its international business in Q4 and fiscal 2019, as well as a return to profitability at Paramount.