Interview, Conference Presentation
Robert Bakish, President and CEO of ViacomCBS
- ViacomCBS has rebranded its flagship streaming service from CBS All Access to Paramount+, leveraging the century-old brand's near-universal global recognition and legacy of content innovation.
- The company revised its 2020 paid domestic subscriber target upward from 16 million to 18 million, reaching the new benchmark by June 30.
- CBS All Access subscriber revenue increased over 50% in the second quarter, accelerating from the first quarter, with further acceleration expected in Q3.
- Strategic content additions in late July included 190 Paramount movies and 3,500 episodes from Viacom Media Network brands, which materially broadened the platform's demographic reach and attracted younger subscribers.
- New Viacom and Paramount brands now account for a strong double-digit percentage of total platform consumption despite being available for only a month and a half.
- Forward-looking statements indicate the company will utilize its linear, social, and platform marketing scale in 2021 to maximize the reach of the Paramount+ launch campaign.
- ViacomCBS launched a partnership with Apple allowing subscribers to bundle CBS All Access and Showtime for $9.99, a move designed to drive subscriptions, reduce churn, and increase Apple's over-the-top participation.
- The company maintains an annual content spend of over $13 billion, leveraging synergies between its studios, networks, and streaming arm to maximize efficiency in cross-company asset utilization.
- Content strategy differentiates by library depth, utilizing older assets on free streaming service Pluto TV while reserving newer content for the paid Paramount+ tier.
- CBS Network will air "Star Trek: Discovery" Season 1 in the fall to introduce the series to a new audience, serving as a promotional vehicle for the Season 3 launch on Paramount+ in October.
- ViacomCBS secured exclusive U.S. streaming rights to the UEFA Champions League on Paramount+ through 2024, with select matches also airing on the linear CBS broadcast channel.
- UEFA Champions League matches exceeded projection targets in August and successfully drove new platform sign-ups, attracting a young, diverse, and passionate fan base.
- The company expanded its NFL relationship by bringing "Monday Night Football" to its UK broadcaster, Channel 5, and previously added a Wildcard game to Nickelodeon carriage.
- CBS Sports Network will add Bellator MMA events to its lineup in October, with plans to retain 100% of the value from this owned property rather than negotiating future rights renewals.
- ViacomCBS passed on renewing its SEC contract but retains rights to NCAA March Madness and various golf events, utilizing a portfolio of linear and streaming assets to monetize sports across multiple channels.