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ViacomCBS (NASDAQ: VIAC) has announced that CEO Bob Bakish will engage in a Q&A session at the UBS Global TMT Virtual Conference on December 8, 2020, at 1:00 p.m. ET. The session will provide insights into the company’s strategies and performance.
A live audio webcast can be accessed through the Investors section of ViacomCBS' website, with a replay available afterwards. ViacomCBS is a major global media and entertainment company, known for its extensive portfolio of iconic brands and significant market share in U.S. television.
On November 24, Pluto TV launched multiple free streaming channels featuring classic television series like Happy Days, Family Ties, and The Love Boat, providing an escape for viewers during the holiday season. This initiative aims to evoke nostalgia and enjoyment through iconic shows, enhancing user engagement. Pluto TV boasts over 28.4 million users in the U.S. and offers an extensive library of nearly 100,000 hours of content. Additionally, they are supporting World Central Kitchen with a donation to help communities in need.
ViacomCBS' MTV Entertainment Group has launched the Culture Code, a DE&I initiative aimed at enhancing inclusivity and social justice within the entertainment sector. This initiative will leverage partnerships with organizations like The Museum of Tolerance and Color of Change to provide comprehensive training and resources, not just for employees but also across projects and productions. The pilot program is expected to begin by the end of 2020, with a full rollout in early 2021, emphasizing the importance of storytelling as a means of fostering empathy and understanding.
ViacomCBS Consumer Products has formed an exclusive licensing agreement with Melissa & Doug to produce co-branded toy lines based on PAW Patrol and Blue’s Clues & You!. This partnership, the largest for Melissa & Doug to date, aims to create innovative educational toys for preschoolers, emphasizing problem-solving and creative thinking. The toys will be available in Fall 2021, reinforcing the commitment of both companies to enhance children's growth and learning through play. The collaboration signals a significant step in expanding their market reach and educational offerings.
BET announces the lineup for the 2020 “Soul Train Awards”, themed “Feed Your Soul,” featuring performances by notable artists like Babyface, Brandy, and Smokey Robinson. The awards will air on November 29, 2020, at 8 PM ET across multiple networks including BET and VH1. Monica will receive the sixth annual Lady of Soul Award. H.E.R. leads nominations with 8, followed by Chris Brown with 7. The event includes a pre-show hosted by Flex Alexander and Shanice, and will simulcast internationally. BET continues to be a leader in African-American entertainment.
Nickelodeon has announced the cast for its new preschool series Baby Shark’s Big Show!, premiering on Dec. 11, featuring actors like Kimiko Glenn and Luke Youngblood. Co-produced with SmartStudy, the series includes 26 episodes focusing on Baby Shark and his friend William's adventures in Carnivore Cove. The holiday special highlights their quest to save Santa Jaws. Following its premiere, episodes will be available on Nick Jr. platforms. The Baby Shark brand, a sensation since its 2015 launch, boasts over 7.1 billion YouTube views.
ViacomCBS reported Q3 2020 revenues of $6.116 billion, a 9% decrease from Q3 2019. Operating income declined 7% to $959 million. Net earnings fell 2% to $612 million, with diluted EPS at $0.99. Operating cash flow surged to $1.414 billion, aided by cost savings. Affiliate revenue grew 10% to $2.365 billion, driven by subscription streaming growth. Advertising revenue saw a 6% decline, while content licensing dropped 33%. Domestic streaming revenue soared 56% to $636 million, with subscribers reaching 17.9 million, up 72% year-over-year.
Nickelodeon, TIME, and TIME for Kids have announced the top 20 finalists for the inaugural Kid of the Year honor, celebrating young leaders making positive community impacts. From over 5,000 nominations, the finalists were selected by an Advisory Board and a kid committee. The top five honorees will be revealed in a special aired on December 5, featuring guest stars such as Kristen Bell and Simone Biles. Each honoree will receive a cash prize and the role of Kid Reporter for TIME for Kids. The initiative is sponsored by The LEGO Group and Lysol.
BET+ has announced the midseason return of “Tyler Perry’s Ruthless”, premiering on November 26. The drama series delves into the dark aspects of the Rakudushi cult, featuring characters like Ruth and new cult members. This season will showcase intense narratives filled with sex, deceit, and murder. Additionally, several new cast members will join the series, enhancing the storyline. Viewers can expect a total of three episodes where the struggles for power and trust unfold. Tyler Perry continues as the executive producer and director.
Bryon Rubin has been promoted to Chief Operating Officer of CBS Entertainment Group, effective immediately. He retains his role as Chief Financial Officer, reporting to CEO George Cheeks. Rubin will oversee financial and business operations across CBS's divisions, including CBS Television Network, CBS Studios, and CBS Sports. His experience since joining CBS in 1999 will support the company's strategic growth in a changing media landscape. Cheeks emphasized Rubin's invaluable counsel and deep industry knowledge as critical factors for CBS's evolving business objectives.
