CBS Reports Strong Q2 and Merger with Viacom
Together, CBS and Viacom will generate $28 billion in annual revenue.
Last week, CBS reported total revenue of $3.81 billion for the second quarter, a 10% increase over Q2 2018’s revenue of $3.47 billion. The company saw growth across all revenue streams, including 13% growth in affiliate and subscription fees, 12% growth in content licensing and distribution revenue, and 7% growth in advertising revenue. The company’s direct-to-consumer OTT services, CBS All Access and Showtime, contributed to the revenue growth in the affiliate and subscription fee category. CBS has a goal of 25 million direct-to-consumer subscribers by 2022.
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