ViacomCBS and Charter Communications Reach Comprehensive Distribution Agreements

Rhea-AI Summary

ViacomCBS Inc. (NASDAQ: VIAC, VIACA) and Charter Communications, Inc. (NASDAQ: CHTR) have signed multi-year distribution agreements for the continued carriage of ViacomCBS’ networks and streaming services, including Paramount+, Pluto TV, BET+, and Noggin, to Spectrum customers. This collaboration aims to adapt to the evolving subscription video market while enhancing customer choice and experience. The agreements also focus on advancing addressable media and advertising strategies, although specific financial terms were not disclosed.

Positive

• Long-term agreements enhance distribution of ViacomCBS' streaming services to Spectrum customers.
• Collaboration aims to adapt to the evolving subscription video landscape.
• Focus on advanced advertising and addressable media indicates strategic growth.

Negative

• None.

ViacomCBS Inc. (NASDAQ: VIAC, VIACA) and Charter Communications, Inc. (NASDAQ: CHTR) today announced comprehensive, multi-year distribution agreements for the continued carriage of ViacomCBS’ leading portfolio of broadcast, entertainment, news and sports networks, in addition to licensing ViacomCBS’ suite of streaming services, including Paramount+, Pluto TV, BET+ and Noggin, for future distribution to Spectrum customers.

“We are pleased to have reached a new deal to deliver ViacomCBS’ expansive portfolio of popular brands and premium programming for Spectrum audiences to enjoy, plus greater choice in how they consume our content,” said Ray Hopkins, President, U.S. Network Distribution, ViacomCBS. “Charter is a valued partner, and we look forward to deepening our long-standing relationship.”

Added Tom Montemagno, Executive Vice President of Programming Acquisition for Charter: “These comprehensive agreements with ViacomCBS recognize the fast-changing pace of the subscription video business and provide us the flexibilities to adapt for the benefit of our customers while also furthering our strategic interests in the advanced advertising realm and aggregated video store concept with the addition of the streaming apps.”

ViacomCBS and Charter also will expand their existing collaboration around addressable media and advanced advertising.

Others terms of the agreements were not disclosed.

About ViacomCBS

ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the U.S. television audience and boasts one of the industry’s most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions.

For more information about ViacomCBS, please visit www.viacomcbs.com and follow @ViacomCBS on social platforms.

VIAC-IR

About Charter

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 31 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice.

For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The company also distributes award-winning news coverage, sports and high-quality original programming to its customers through Spectrum Networks and Spectrum Originals. More information about Charter can be found at corporate.charter.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210715005313/en/

FAQ

What did ViacomCBS and Charter announce?

ViacomCBS and Charter announced multi-year distribution agreements for broadcasting ViacomCBS networks and streaming services like Paramount+ to Spectrum customers.

What streaming services will be available to Spectrum customers?

Spectrum customers will have access to ViacomCBS' streaming services, including Paramount+, Pluto TV, BET+, and Noggin.

How will the agreements impact ViacomCBS and Charter's business?

The agreements aim to enhance customer choice and adapt to changes in the subscription video market, while also expanding addressable media and advertising strategies.

What are the stock symbols for ViacomCBS and Charter?

The stock symbols are VIAC and VIACA for ViacomCBS, and CHTR for Charter Communications.

Were any financial terms disclosed in the ViacomCBS and Charter agreements?

No specific financial terms related to the agreements were disclosed.