Media giant ViacomCBS has reported a strong third quarter of 2021, reflecting growth across all revenue streams and has also inked a broad distribution agreement with T-Mobile to provide its customers with Paramount+.
For the quarter ended 30 September 2021, ViacomCBS reported total revenues of $6. 610 billion, up 13% compared with the same period last year. There was a clear driver of revenue growth: streaming. While advertising inched up 1% compared with Q3 2020 to $1.855 billion and affiliate fees crept up 2% to $2.102 billion, streaming revenues soared 62% compared with the previous twelve months to smash the billion-dollar mark for the first time in a quarter and reached $1.079 billion.
Drilling deeper, advertising growth reflected an improved advertising marketplace, partially offset by lower linear impressions, lower political advertising, and the absence of CNET Media Group as a result of its sale in the fourth quarter of 2020. Affiliate revenue was said to have increased 2% year-over-year, reflecting higher reverse compensation and expanded distribution.
Streaming revenue growth was driven by both streaming advertising and subscription. Streaming advertising revenue grew 48% year-over-year, driven by grow thing advertising on Pluto TV and Paramount+. Streaming subscription revenue grew 79% year-on-year, reflecting said the company strong subscriber growth from the company’s subscription services. Pluto TV revenue grew 99% year-over-year, as MAUs increased to over 54M in the quarter, helped by international growth.
Streaming was by far the star attraction when looking at subscriber growth. Global streaming subscribers rose to nearly 47 million, adding 4.3 million subscribers in the quarter, led by the Paramount+. Domestically, Paramount+ saw strong subscriber sign-ups and engagement from a variety of content, including A Quiet Place Part II, Paw Patrol: The Movie, as well as the start of the NFL season. Internationally, Paramount+ launches to date were said to have had strong momentum, led by progress in Latin America, Brazil, Australia and Canada.
The third quarter results also showed SHOWTIME OTT service was shown to have benefitted from originals, including Billions, American Rusta and TheChi. The division also announced the signing of SkyShowtime, a joint venture with Comcast that will include premium and original content from both companies. SkyShow time will reach more than 20 European territories encompassing 90 million homes.
With T-Mobile, ViacomCBS announced that T-Mobile customers on every post-paid consumer plan will be able to get a full year of Paramount+ Essential free. The deal applies for new and existing T-Mobile and Sprint post-paid wireless and home internet customers on any consumer plan as well as both new and current Paramount+ subscribers.
T-Mobile and Sprint customers can now watch live sports, breaking news and entertainment, including new original series such as Evil, iCarly, and Star Trek: Prodigy, plus hit movies such as A Quiet Place Part II, Infinite, Paranormal Activity: Next of Kin, and Queenpins. The premium streaming service is also set to offer content such as 1883, Clifford the Big Red Dog, Mayor of Kingstown, South Park: Post COVID, and Queen of the Universe.