Today ViacomCBS reported strong Q2 2021 streaming and operational results.
In streaming, ViacomCBS delivered another quarter of robust subscriber and consumption growth across its pay, premium, and free services, driven by its diverse content portfolio covering sports, news, and entertainment.
- In Pay -- As a result of the strong launch of Paramount+, and the continued momentum in other streaming services, ViacomCBS added 6.5 million global streaming subscribers in the quarter, bringing its total global streaming subscribers to over 42 million.
- In Premium -- SHOWTIME OTT delivered strong growth in sign-ups and engagement, driven by originals, including The Chi, Shameless and City on a Hill.
- In Free -- Pluto TV now has over 52M MAUs, reflecting continued domestic growth and international expansion.
- Pluto TV continues to be the leading FAST (free ad-supported streaming television) service in the U.S. with more than 200,000 hours of content available.
Operationally, the company achieved another quarter of solid performance.
- Total revenue grew 8% year-over-year to $6.6B, driven by strength across advertising, affiliate and streaming.
- Advertising revenue, which excludes streaming, grew 24% year-over-year, benefiting from the return of sports programing and an overall improvement in the ad market during the quarter.
- Affiliate revenue, which also excludes streaming, grew 9% year-over-year, highlighting the power of ViacomCBS to drive renewals, carriage and price increases.
- In streaming, the company grew global streaming revenue 92% year-over-year to $983M, driven by a 102% surge in streaming advertising revenue, mainly led by Pluto TV, and an 82% rise in streaming subscription revenue, led by Paramount+.
On the call, ViacomCBS discussed how its Q2 results demonstrate the company's continued momentum and its focus on streaming, including details around new content coming to streaming and its powerful new deal with Sky, which will bring Paramount+ to the UK, Italy, Ireland, Germany, Switzerland and Austria in 2022.
† See ViacomCBS Q2 2021 earnings release for information regarding our use of non-GAAP financial measures and forward-looking statements.