replicating the TV bundle with free, paid and premium tiers ViacomCBS is one of the traditional media companies looking to transform themselves into streaming giants, and even a quarter dominated by coronavirus was unable to slow that progress. The market responded well to the results, with stock 3.2% higher at $26.84 mid-afternoon.
Pleasingly for Bakish, all prongs of his streaming strategy grew in Q2. Pluto TV added 2.3m more monthly average viewers, totaling 26.5 million. The free ad-supported TV service has an internal target of 31 million MAUs by the end of 2020 and will be aided with the mentioned plan to debut more than 40 CBS shows, including “Survivor,” “The Amazing Race” and “MacGyver” on Pluto.
The expanded CBS All Access “super service” will see subscriptions continue to rise once it debuts in early 2021. Bakish reconfirmed some details recently released, such as 2021’s “SpongeBob” movie going straight to All Access after a, but suggested there will be many original series based on premium ViacomCBS IP, similar to announced “SpongeBob” spinoff “Kamp Koral,” designed to whet viewer appetites.
This wasn’t the only international streaming expansion noted. Bakish mentioned that in the coming months ViacomCBS will bein regions identified that they will be able to challenge for market leadership: Australia, Latin America and the Nordic region of Europe. This, too, should see a long-term gain in revenues, as ViacomCBS looks to harness the synergies of their recent merger.
TIL there an assload of folks still paying for Cable/Satellite
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