The turnover of ViacomCBS drops by 3%, announces new streaming service with TV and film ‘House of Brands’
ViacomCBS reported a 3 percent loss in revenue since the media merger in December, and at the same time announced that it was creating a new streaming service for expansion on its CBS All Access platform.
Revenue at the end of the first quarter fell from $ 7.09 billion to $ 6.87 billion, a 3 percent decrease from the same time a year ago, ViacomCBS reports.
Full year revenue increased 2 percent driven by growth in advertising, affiliate and content licenses, operating income, net profit and diluted earnings per share.
Revenues were reported for the first time since Viacom and CBS were merged in December, following two failed previous attempts, and including merger-related expenses.
The merged company called itself a ‘global content powerhouse’ by pointing out that it was no. 1 in domestic public share “in the main demographics,” and because it generated $ 1.6 billion in revenue annually with its domestic streaming and video activities.
Bob Bakish, president and chief executive officer of ViacomCBS (left in the middle) and Shari Redstone, the president of the company, celebrate the merger of the company in December during the opening bell at Nasdaq in New York on December 5.
ViacomCBS called itself a ‘global content powerhouse’ by pointing out that this was not the case. 1 in domestic public share “in the main demographics,” and because it generated $ 1.6 billion in revenue annually with its domestic streaming and video activities
Bob Bakish, president and CEO of ViacomCBS, said the merged company “had made significant progress in integration and transformation” after the merger.
“We see an incredible opportunity to realize the full power of our position as one of the largest content producers and providers in the world,” he said in a statement published on Thursday along with the quarterly results.
As part of that strategy, ViacomCBS has announced that it will launch a new “House of Brands” product that will leverage its “scaled assets in film and TV”, in a move that will leverage the momentum of its already successful CBS All Access streaming in maintains maintenance.
CBS All Access, started in 2014, got hold of viewers by broadcasting exclusive, original programming and broke its subscription record last month with the premiere of ‘Star Trek: Picard’, the newest episode in the classic TV and film franchise with Patrick Stewart , rewarding his role as Capt. Jean Luc Picard from the Starship Enterprise.
CBS All Access, which started in 2014, broke its subscription record last month with the premiere of ‘Star Trek: Picard’, the newest part in the classic TV and film franchise with Patrick Stewart, in which he played his role as Capt. Jean Luc Picard from the Starship Enterprise
The new streaming service will be accessible through a paid subscription, in addition to the company’s paid Showtime cable network and Pluto TV-supported video-on-demand service, which Viacom had purchased for $ 340 million just over a year ago.
The new service is expected to contain content from the entertainment, news and sports offering of the company.
One of the highlights is the favorite Nickelodeon cable network for children, with cute ‘SpongeBob SquarePants’; pioneering music video network MTV, which found new life in reality TV shows such as “Jersey Shore”; and “Comedy Central,” which has broadcast 23 seasons of his ordinary cartoon show in South Park.
The archives of the legendary Paramount Pictures are also expected on the service. These include the “Indiana Jones” movies, “Mission Impossible” and “Transformers” franchises.
Melissa Molinaro from MTV’s “Jersey Shore” reality TV program, to be included in ViacomCBS’s new streaming service
ViacomCBS ‘legendary Paramount Pictures distributed the box office leader,’ Sonic the Hedgehog ‘this weekend.
“Sonic the HedgeHog,” which distributed Paramount Pictures from ViacomCBS and was the weekend checkout leader, star comedian Jim Carrey. The ticket booth provided a much needed lift to the studio after a series of duds.
Paramount also distributed last week’s box office leader, “Sonic the HedgeHog,” starring Jim Carrey, who gave a much needed lift to the studio after a series of duds.
The film version of the popular Sega video game earned more than $ 70 million inland during the four-day President’s Day weekend, and earned $ 113 worldwide.
According to the studio’s estimates, it was the studio’s largest version of a video-inspired movie that outperformed last year’s “Detective Pikachu,” released by rival studio Warner Bros.
ViacomCBS says the planned service “will reaffirm and expand the value of entertainment, news and sports – through on-demand and live experiences – to audiences around the world.”