The decision was made after months of disagreement over the deal's advertising inventory. The streaming service has attracted 15 million subscriptions so far.
Day two of the virtual event unveiled information about ViacomCBS’ programming and marketing tactics, the re-branding of its streaming service, CBS All Access, and the strategies behind this year's growth of Philo of Roku.
Roku, Hulu, Peacock, Pluto TV, and Tubi collectively gathered a 31% increase to USD 849 million last quarter. US CTV ad spending is projected to grow by 25.2% in 2020 as a result of increased media usage.
Despite a loss per share of 35 cents, its revenue increased by 42%, receiving 43 Million streaming accounts. The company expects TV ad spend won’t recover to pre-pandemic levels until next year.