Mumbai: ViacomCBS global streaming revenue surpassed $ one billion for the first time in the third quarter 2021 with a growth of 62 per cent year-on-year. The company added 4.7 million net subscribers during the quarter reaching nearly 47 million subscribers. This includes the streaming platforms Paramount+, Showtime, BET+ and Noggin.
The company saw 79 per cent growth YoY in streaming subscription revenue. It generated 48 per cent YoY growth in streaming advertising revenue, largely driven by Pluto TV, which grew global monthly active users (MAUs) to over 54 million and revenue by 99 per cent YoY. In terms of monetization, global streaming subscription ARPU increased 8 per cent year-over-year.
The company’s total revenue was up by 13 per cent for the quarter ended 30 September at $6.6 billion. The pace of subscriber growth has slowed compared to the previous quarter when the company added 6.5 million new additions across its streaming services.
The company attributed the growth of subscribers and consumption on Paramount+ on its diverse global content offering including "A Quiet Place Part II," "Paw Patrol: The Movie," the return of the NFL, and the New CBS Fall Season.
“The strength and momentum of both Paramount+ and Pluto TV are clearly evident, and demonstrate the power of the strategy we laid out at our investor event earlier this year,” said ViacomCBS president and chief executive officer Robert Bakish. “To that end, I want to remind you of three key enablers driving the ViacomCBS strategy, all of which we're seeing in action. First, an incredible breadth and depth of compelling content which is critical to attracting and retaining consumers globally; second, robust distribution and marketing, which ensures we can build the broadest reach and awareness; and third, a strong and flexible financial engine to enable streaming investment, drive RoI and maximize shareholder value.”
Adding further, he said, “As the leading free ad-supported streaming TV service on the market, Pluto TV is winning in both scale and engagement, and it will be a $1 billion revenue business this year.”
