Paramount+ Ad Revenue Keeps Climbing

ViacomCBS streaming subscribers (includes Paramount+ and Showtime OTT)(YoY growth):
1) 2020 – 30M
2) 2021 – 56M (↑ 88%)

ViacomCBS 2021 streaming revenue (% of total):
1) Advertising – $2.1B (51%)
2) Subscription – $2.1B (49%)
3) Total – $4.2B

ViacomCBS streaming ad revenue (YoY growth):
1) 2020 – $1.4B
2) 2021 – $2.1B (↑ 51%)

ViacomCBS streaming subscription revenue (YoY growth):
1) 2020 – $1.1B
2) 2021 – $2.1B (↑ 79%)

Pluto TV global monthly active users (YoY growth):
1) 2020 – 43M
2) 2021 – 64M (↑ 48%)

Paramount+ subscribers (YoY growth):
1) 2020 – 12M
2) 2021 – 33M (↑ 180%)

Big question #1: How much is Paramount spending on content?

Estimated U.S. content spend for Paramount (YoY growth) according to Wells Fargo:
1) 2019 – $13.4B
2) 2020 – $14.0B (↑ 4%)
3) 2021 – $15.3B (↑ 9%)
4) 2022P – $16.4B (↑ 7%)
5) 2023P – $17.8B (↑ 9%)
6) 2024P – $19.5B (↑ 10%)
7) 2025P – $21.7B (↑ 11%)

Big question #2: What is the primary focus for Paramount in 2022?

Quick answer: Global expansion of streaming.

Quote from Bob Bakish – CEO @ ViacomCBS:“If ’21 was at the core about the launch of Paramount+, ’22 is really about international expansion.”

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