ViacomCBS Inc. is set to release its Q2 report on 5th August after it ceased on 30th June. The company will conduct a conference call at 8:30 a.m. (ET), following the release of its earnings materials. A live audio webcast of the call will be available on the Investors homepage of ViacomCBS’s website beginning at 8:30 a.m. (ET).
The conference call can be accessed by phone through a general conference number, while an audio replay will also be accessible beginning at 11:30 a.m. (ET) on 5th August in the Events, Webcasts & Annual Meetings section of ViacomCBS’s Investors home page. Participants are encouraged to join the meeting five minutes prior. The earnings release and any other information related to the call will also be accessible on the Investors' home page of ViacomCBS’s website.
Last year, the company’s affiliate revenue increased 2%, reflecting growth in station affiliation and retransmission fees, as well as subscription streaming revenue, which more than offset declines in pay-TV subscribers. Advertising revenue declined 27% year-over-year, driven by the adverse effects of COVID-19 on global advertising demand, the comparison against the broadcast of the national semifinals and championship games of the NCAA Tournament in the prior year quarter, as well as the cancellation and postponement of professional golf tournaments.
Despite content delays amid the pandemic, domestic streaming and digital video revenue, which includes streaming subscription and digital video advertising revenue increased to $489 million, representing a 25% increase driven by 52% growth in streaming subscription revenue and robust growth in Pluto TV advertising revenue.