ViacomCBS Q2 Ad Revenue Up 24%, Streaming Ad Revenue Up 103%, Paramount+, Sky Partner In Europe

ViacomCBS’s advertising revenue, excluding streaming, rose 24% year-over-year in the second quarter to $2.1 billion, driven by the return of sports programing and overall improvement in the ad market during the quarter.

Global streaming revenue grew 92% YoY, to $983 million. That included a 102% increase in streaming ad revenue led by Pluto TV,to $502 million, and an 82% gain in streaming subscription revenue, to $481 million, led by Paramount+.

Affiliate advertising rose 9%, to $2.1 billion.

Total company revenue increased 8%, $6.6 billion.

Pluto TV’s monthly active users (MAUs) rose by 2.8 million versus Q1, to reach 52 million in Q2, and its ad revenue jumped 169% YoY, more than doubling for the fourth consecutive quarter. Pluto’s domestic watch time grew 45% YoY.

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Led by Paramount+, global streaming subscribers grew by 6.5 million in the quarter, to total more than 42 million.

Total viewing hours and watch time per active subscriber grew quarter-over-quarter; the company did not provide specific stats.

Paramount+’s international launches to date have had strong momentum, led by Latin America, according to ViacomCBS.

In addition to Paramount+’s launch in Australia and New Zealand this month, the company announced today that the streamer will launch in European markets, including the U.K., Ireland, Italy, Germany, Switzerland and Austria, in 2022 through a new partnership with Comcast-owned Sky.

At launch, Sky Cinema subscribers will get Paramount+ at no additional cost. Paramount Pictures’ feature films will remain available on Sky Cinema in the U.K. and will join Sky Cinema in Germany and Italy in 2022. All other Sky customers will need to subscribe to Paramount+ as an add-on.

The multiyear distribution agreement also includes the extended carriage of ViacomCBS’ leading portfolio of pay TV channels and the renewal of Sky as an ad sales partner in select markets.

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