Bob Bakish, chief executive and president of ViacomCBS Inc., the New York-based parent company of the two streaming services, spoke at the virtual UBS Global Technology, Media and Telecom Conference Dec. 7, announcing that Paramount Plus added more than 1 million subscribers during the week of Nov. 8, a record since Viacom expanded and rebranded its subscription video on demand platform from CBS All Access in March. He said, “November was our best month ever” for Showtime as well.
Following projections from February that ViacomCBS would grow its streaming revenue to $7 billion by 2024, up from a then-current run of $3.6 billion, Bakish said total streaming revenue is crossing an annual run rate of $5 billion in the current fourth quarter.
The streaming gains are particularly notable in the context of the 4.3 million subscribers reported in November for the entire three-month period ending Sept. 30, which at the time brought the service’s total paid subscriber count to almost 47 million.
