6 NOV 2020

VIACOMCBS REACHES 17.9M STREAMING SUBSCRIBERS; PLUTO TV REACHES 28.4M

The company is working towards its goal to garner 25 million subscribers by 2022, expecting to reach 19 million streaming subscriptions by the end of this year.

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ViacomCBS unveiled its third-quarter earnings on Friday, which reflected improvement within its advertising sales and affiliate revenue divisons, as well as its streaming operations. The company now projects to reach 19 million domestic streaming subscriptions by end of the year for CBS All Access and Showtime.

The conglomerate's subscriptions stood at approximately  17.9 million at the end of the third quarter. Paid subscribers for CBS All Access and Showtime have reached 17.9 million, a significant increase from that of the 13.5 million subs it disclosed earlier this year. Ad-supported Pluto TV service garnered 28.4 monthly active users. Its total streaming and digital revenue reached USD 636 million, a 56% from the previous year.

ViacomCBS previously set a goal of accumulating 25 million subscribers for Showtime and CBS All Access by the end of 2022. The company has nearly reached its target of 18 million subscribers for 2022 that was offered with its second-quarter earnings report.

According to ViacomCBS Chief Financial Officer Naveen Chopra, the new sub-target for year-end 2020 is a one million dollar increase from its previous estimates.The services saw a substantial growth in sign-ups, highlighting that CBS All Access benefited from strong demand for sports content and Showtime OTT from shows like “The Chi” and “Billions”.