On Thursday morning, ViacomCBS reported its first quarter 2021 earnings. This provides us onlookers with the ability to time travel back to the high school versions of ourselves to gossip and pass judgment on the company from afar. Good times.
ViacomCBS added 6 million global streaming subscribers to reach 36 million total customers in the quarter. It delivered a 69% year-over-year growth in streaming subscription revenue, which the company attributes to the “significant momentum” of Paramount+, which launched on March 4 on the back of previous service CBS All Access. In the earnings report, ViacomCBS emphasizes that it’s focused on a “ecosystem of premium, pay and free services.”
Yet as we’ve previously explored, Paramount+ is fighting an uphill battle in the premium streaming wars. Further complicating matters is the reality that ViacomCBS may be treating the SVOD service as a flashy toy to better position itself for a future sale. So at the end of Q1, how is Paramount+ faring against the crowded field of streaming Olympians?
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