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ViacomCBS (NASDAQ: VIAC; VIACA) announced that Naveen Chopra, CFO, will participate in a Q&A session at the virtual J.P. Morgan Global Technology, Media and Communications Conference on May 24, 2021, at 2:00 pm ET. A live audio webcast will be accessible on ViacomCBS' Investors homepage, with a replay available in the Events, Webcasts & Annual Meetings section. ViacomCBS continues to be a key player in global media and entertainment, providing iconic brands and a vast library of content.
ViacomCBS has expanded its podcast portfolio, launching over 120 shows, including 20 new premieres, demonstrating a 14% year-over-year increase in downloads. The initiative spans multiple genres, leveraging popular brands like Nickelodeon and BET. A new partnership with iHeartMedia will produce exclusive podcasts from franchises like Avatar and SpongeBob SquarePants. Key podcasts include CBS Eye on Money and Behind the Music. This expansion aligns with the company’s strategy to create premium audio content for diverse audiences and enhance advertising opportunities.
ViacomCBS reported strong Q1 2021 results, with revenues of $7.41B, up 14% YoY. Net earnings rose 79% to $899M, while diluted EPS increased 75% to $1.42. Streaming revenue skyrocketed 65%, adding 6M subscribers to reach a total of 36M globally, driven by Paramount+. Advertising revenue grew 21%, aided by events like the Super Bowl, and affiliate revenue rose 5%. Operating cash flow was robust at $1.65B, while free cash flow surged 419% to $1.59B. The company also reported a strong balance sheet with $5.5B in cash.
Comscore (NASDAQ: SCOR) announced an expanded renewal agreement with ViacomCBS (NASDAQ: VIAC; VIACA) to provide its National TV measurement currency, enhancing ViacomCBS's traditional linear advertising capabilities. This partnership, which dates back to 2014, aims to diversify measurement across its linear and digital platforms. Comscore's Chief Revenue Officer emphasized the value of this partnership in evolving currency solutions, while ViacomCBS highlighted the potential for significant value in cross-screen measurement and a diversified currency strategy under Comscore's new ownership structure.
BET will honor the legacy of Earl “DMX” Simmons with a special tribute event titled “BET REMEMBERS DMX”. The live coverage of his homegoing celebration will be broadcast on April 25 at 2:30 p.m. ET on BET and its YouTube channel. In-person attendance is limited to family and close friends due to health guidelines. The tribute will feature additional programming on the same day to celebrate Simmons’ impact on music and culture.
CBS has announced a new divisional structure that merges CBS News and CBS Television Stations under the leadership of Neeraj Khemlani and Wendy McMahon, who will serve as co-heads. This strategic move aims to enhance the company's news-gathering and production capabilities across various platforms. Khemlani and McMahon, both returning to CBS, bring extensive experience from previous roles in prominent media organizations. The transition also involves Susan Zirinsky's ongoing leadership role, facilitating a new CBS News Content Studio expected to launch later this year.
BET honors rap legend DMX on the anniversary of his passing, April 9, with a special programming block. This includes a re-air of the docuseries Chronicles: Ruff Ryder from 6:00 PM – 11:00 PM and Inside the Label: Ruff Ryders from 11:00 PM to midnight (EDT). DMX, born Earl Simmons, was hospitalized after a heart attack on April 2. BET's Executive VP Connie Orlando expressed condolences, emphasizing DMX's impactful legacy in music and his charitable efforts in his community.
ViacomCBS Inc. (NASDAQ: VIAC, VIACA) will announce its first-quarter financial results for the period ending March 31, 2021, on May 6, 2021. The earnings call is scheduled for 8:30 a.m. (ET), followed by a live audio webcast available on its Investors homepage. The public can access the conference call via dial-in numbers provided. An audio replay will be available by the same day at 11:30 a.m. (ET). ViacomCBS, a major global media entity, offers a diverse portfolio including CBS,SHOWTIME, Nickelodeon, and Paramount+, as well as innovative streaming services.
