ViacomCBS Q1 Profit Surges on Super Bowl and 6 Million New Streaming Subscribers05/06/2021
ViacomCBS said first-quarter profit surged as the company enjoyed the benefits of ad sales associated with Super Bowl LV and lured 6 million new subscribers to streaming outlets such as Paramount Plus.
The New York owner of CBS, Showtime and Nickelodeon said revenue increased 14% to $7.41 billion, up from nearly $6.5 billion in the year-earlier quarter. The company said its total streaming subscriber base stood at 36 million, but noted that its cable and film assets fared less well during the period, owing to slumps in advertising and the effects of the coronavirus pandemic.
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