ViacomCBS’s first-quarter net income beat expectations on strong streaming revenue during a quarter when the company streamed the Super Bowl and introduced its rebranded streaming service Paramount+. ViacomCBS rebranded its streaming service formerly called CBS All Access to Paramount+ in March. ViacomCBS added 6 million global streaming subscribers in the quarter, for a total of 36 million across all of its streaming services, Paramount+, Showtime and BET+. ViacomCBS has projected that those services will reach 65 million subscribers by 2024. Paramount+ joins an increasingly crowded fray of services from Netflix, Hulu, Disney, AT&T and NBCUniversal, among others.
Streaming revenue boosts ViacomCBS Q1 results
