The entertainment giant, led by CEO Bob Bakish, reported its second-quarter results.
ViacomCBS added about 6.5 million global streaming subscribers in its second quarter, driven by the Paramount+ service, which debuted such originals asin the period, to reach more than 42 million global paid streaming users, the entertainment company said Thursday.
The company also reported an advertising revenue gain over the year-ago period, which had been hit by the coronavirus pandemic to record a decline to $1.93 billion after reaching $2.65 billion in the second quarter of 2019. “Advertising revenue grew 24 percent year-over-year, driven by CBS’ broadcasts of 2021 sporting events for which there were no comparable broadcasts in the prior-year period as a result of COVID-19, and an improved advertising market,” the company said.
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