Bob Bakish, ViacomCBS CEO, used its results call to float plans for an international SVoD product within the next year as part of the expansion of its streaming product line. He made concrete announcements upgrading its US domestic offering CBS All Access with a number of initiatives including adding 100+ Paramount films.
Bakish commented: “]…] internationally, we will launch a broad pay streaming product in multiple markets over the next 12 months. This service will harness the full power of the of the ViacomCBS portfolio, creating a meaningful brand presence in streaming video in key markets around the world.”
The comments build on previous hints CBS All Access would become a ‘broad pay’ product for audiences around the world. Plans will, apparently, include a complete rebrand.
“Expanding CBS All Access’ library of films with these iconic titles from Paramount Pictures is just one of the many ways we’re integrating the phenomenal catalogue of IP available to us within the ViacomCBS family,” said Julie McNamara, Executive Vice President & Head of Programming, CBS All Access. “The service is on a growth trajectory with two record-breaking months in March and April, and we look forward to bringing even more premium content and value to our subscribers in the coming months.”
CBS All Access recently experienced its best two months ever in April and March in terms of total streams, and the first half of 2020 now holds CBS All Access’ top two months ever in terms of new subscriber sign-ups of all time.
ViacomCBS’s domestic streaming and digital video revenue – which includes streaming subscription and digital video advertising revenue – grew to $471 million, up 51 per cent year-over-year, in the first quarter.
Domestic streaming subscribers surpassed 13.5 million, up 50 per cent year-over-year, including both Showtime and CBS All Access.
AVoD service Pluto TV’s domestic monthly active users grew 55 per cent year-over-year to more than 24 million.
Overall, the company posted revenues of $6.67 billion, down 6 per cent, with advertising revenues declining by 19 per cent. Operating income was down 49 per cent to $917 million.