ViacomCBS US Subscription Streaming Revenue Soars 78% in Q3

Mary Trump and Bob Woodward books boost Simon & Schuster

ViacomCBS reported its third-quarter 2020 financials on Friday, showing a 78% jump in U.S. subscription streaming revenue.

Per the company, SVOD services CBS All Access (soon to be rebranded Paramount+) and Showtime OTT subs reached 17.9 million, up 72% year-over-year. On the free side, Pluto TV domestic monthly active users (MAUs) rose to 28.4 million, +57 from the same time period last year.

Wall Street had forecast earnings of 80 cents per share on $5.94 billion in revenue, according to a Yahoo Finance compilation of estimates. ViacomCBS reported EPS (earnings per share) of 99 cents on $6.116 billion in revenue.

ViacomCBS recently underwent a streaming-business shakeup ahead of CBS All Access rebranding as Paramount+. Tom Ryan is taking over that business-of-the-future as Marc DeBevoise departs.

ViacomCBS stock (VIAC) closed Thursday at $31.29 per share. The stock markets reopen for regular trading at 9:30 a.m. ET.

ViacomCBS executives will host a conference call at 8:30 a.m. ET to discuss the quarter in greater detail.

More to come…

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