ViacomCBS this morning shared its Q2 earnings results. The company now has 42 million subscribers across its streaming services, including Paramount+ and Showtime.
ViacomCBS also shared that it saw a 92% increase in streaming revenue year over year, along with 6.2 million new streaming subscribers for the quarter. Streaming advertising revenue was also up, with a 102% increase year over year, driven by advertising on the company’s free streaming service Pluto TV.
Pluto TV how has 52 million monthly active users, up from 50 million in the previous quarter.
“In a quarter of strong business performance, including growth in advertising and affiliate, streaming was a standout,” President and CEO Bob Bakish said in a statement Thursday morning. “We continued to accelerate our global streaming momentum and delivered phenomenal results across our flagship streaming services. For the second consecutive quarter, Paramount+ fueled more than 6 million additions to our global streaming subscription base, which now reaches over 42 million. This growth was driven by the power of the service’s differentiated content strategy and expanding content slate. Looking ahead, we’re excited about our opportunity to build on this momentum, as we scale Paramount+’s content offerings across genres and expand our reach with global audiences.”
When it comes to the future of streaming at ViacomCBS, the company said that it plans to make Paramount+ available in 25 markets by the end of this year, starting with launches in Australia and New Zealand this August. The streaming service will expand to reach 45 markets by the end of 2022, including European launches in the UK, Ireland, Italy, Germany, Switzerland and Austria as part of the company’s partnership with Sky.