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government recently filed an antitrust lawsuit seeking to block ViacomCBS from selling its publishing unit, Simon & Schuster, to Penguin Random House. Combined with the conglomerate’s existing portfolio in Latin America, including its studio business and broadcasters Telefe in Argentina and the recently acquired Chilevisión in Chile, this deal “will position ViacomCBS as one of the leading Spanish-language content-production companies in the world,” the conglomerate has said. ViacomCBS’ ViacomCBS Networks International unit recently acquired a majority stake in Spanish-language content producer Fox TeleColombia & Estudios TeleMexico from The Walt Disney Co. “You see us extracting significant value from it, particularly on the streaming growth side.” As such, management will focus “overwhelmingly” on organic growth opportunities that don’t require deals. “But big-picture, we really like the configuration of the company,” Bakish emphasized. “There is certainly potential for additional consolidation in this industry, particularly with respect to the smaller players,” he said, with ViacomCBS ready to look for acquisition opportunities, pointing out past deals in international markets. Discovery, along with Netflix in the streaming age.
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ViacomCBS’ linear TV advertising revenue will still grow in the current fourth quarter though, he added.īakish was also asked about his thoughts on the outlook for further mergers or acquisitions across the sector and the need for smaller players to take on such Hollywood giants as The Walt Disney Co. “We are not immune from the supply chain issues,” but that is a “transitory” issue, he said. Most of the movies for the new year are “all pretty much in the can,” Bakish said, but mentioned there was “a little more work” to do on Sonic 2.īakish also got a question on the advertising market and supply chain challenges.
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Looking ahead, Bakish said on Tuesday, “I can’t wait for ’22,” touting a “fantastic pipeline” of content, including a “killer film slate,” including Scream, Sonic the Hedgehog 2, Top Gun: Maverick and Mission: Impossible 7. Bakish said on Tuesday that the acceleration in the current period is looking even more pronounced now than previously thought. Management said on an earnings conference call that streaming subscriber growth in the current fourth quarter would come in ahead of the third quarter. ViacomCBS had added 4.3 million global streaming subscribers in its third quarter ended in September, driven by the Paramount+ service, to reach nearly 47 million global paid users, the entertainment company reported in early November.
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Paramount also promised that future films from the studio will stream exclusively on Paramount Plus after their theatrical runs, including Snake Eyes, Clifford, Top Gun: Maverick, the upcoming Dungeons & Dragons film, and more - although the studio isn’t making the same 45-day promise for those films.Īdditionally, Paramount has licensed films from MGM, like the upcoming James Bond film No Time To Die and Creed 3 to stream on Paramount Plus in the future.Hollywood Flashback: 'Departures' Gave Japan a Surprise Oscar Win in 2009 The rapid jump to streaming mirrors moves by other companies, like Universal (which has a deal with AMC to offer films as paid digital rentals just 17 days after they hit theaters) or Warner Bros., which is debuting all of its 2021 blockbusters day-and-date on HBO Max with their theatrical bows.
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Paramount is dramatically shortening the space between theatrical and streaming releases for some of its biggest films, with the company announcing that Mission: Impossible 7, A Quiet Place Part II, and Paw Patrol: The Movie will debut on Paramount Plus just 45 days after they first hit theaters.