ViacomCBS reports 92% increase in streaming revenue for Q2 2021

August 6, 2021 2:07

ViacomCBS, the parent company of Network Ten, has reported an 92% year-on-year growth in streaming revenue in its latest financial report. Network Ten recently reported a statutory loss after tax of $3.4 million for the 2020 calendar year, including significant items.

The company, which is set to launch its streaming service Paramount+ locally next week, posted revenues of US$6.564 billion for the quarter ended 30 June. This is up from US$6.075 billion the corresponding period in 2020 (an 8% increase year-on-year).

Advertising revenue accounted for US$2.097 billion in the quarter, while streaming brought in US$983 million during the period, of which US$502 million was advertising and US$481 million was subscriptions.

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Olivia Kruimel

Olivia Kruimel was the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.