ViacomCBS reports $1.6 bn revenue from domestic streaming & digital video biz for 2019
The media company has said its domestic advertising revenue was affected by significant declines in political advertising compared with the prior-year quarter
ViacomCBS Inc. has reported its financial results for the quarter and full year ended December 31st, 2019.
Bob Bakish, President & CEO, said in his statement: “In less than three months since completing our merger, we have made significant progress integrating and transforming ViacomCBS. We see incredible opportunity to realize the full power of our position as one of the largest content producers and providers in the world. This is an exciting and valuable place to be at a time when demand for content has never been higher, and we will use our strength across genres, formats, demos and geographies to serve the largest addressable audience, on our own platforms and others.
In 2020, our priorities are maximizing the power of our content, unlocking more value from our biggest revenue lines and accelerating our momentum in streaming. With this as a backdrop, we’ve set clear targets for the year and are providing increased transparency around our business to demonstrate ViacomCBS’ ability to create shareholder value today, as we continue evolving and growing our business for tomorrow.”
For the fully year, advertising revenue has increased 2%, driven by 5% growth in domestic advertising sales, reflecting CBS’ broadcasts of Super Bowl LIII and the NCAA Division I Men’s Basketball Tournament’s national semi-finals and championship games, as well as higher revenues from Advanced Marketing Solutions, which includes Pluto TV.
Affiliate revenue grew 3%, fuelled by 20% growth in reverse compensation and retransmission, as well as strong subscription streaming revenue, which more than offset declines in pay TV subscribers.
The media network has reported 5% rise in content licensing revenue, reflecting higher revenues from licensing library and original production to third parties.
Domestic streaming and digital video business, which includes subscription revenue and digital video advertising, has generated approximately $1.6 billion in revenue.
For Q4, affiliate revenue increased 1%, as strong growth in reverse compensation, retransmission and subscription streaming revenue more than offset declines in the pay TV landscape.
Domestic advertising revenue was affected by significant declines in political advertising compared with the prior-year quarter.
The network said Domestic Cable Networks’ advertising revenue grew 9%, while content licensing revenue declined 11% due to the timing and mix of deliveries.For more updates, be socially connected with us on
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