Los Angeles, CA (Variety) — A newly formed streaming giant is entering the ring as Viacom and CBS — now known as ViacomCBS — prepare to merge their content portfolios that include both paid subscription and free ad-supported platforms. The result, says CEO Bob Bakish, will be a “powerful DTC ecosystem, which will allow us to serve consumers at different price points.”
On an investor call to discuss the merger after the market close on Tuesday, Bakish and CBS head Joe Ianniello indicated that they will rely on a merged library that now encompasses 140,000 episodes of television and over 3,600 movie titles to drive the combined company's revenues higher and capture more viewers.
“Just think about adding content from Nickelodeon, BET, MTV, Comedy Central to CBS All Access, and Paramount movies to Showtime,” said Ianniello, who will become CBS' chairman-CEO after the transaction, of the two SVODs. “And also imagine our [ad-supported video on demand] properties like CBS Sports HQ and ET Live being added to Pluto [TV]. Plus, all of this will increasingly be done on a global basis.”
CBS All Access and Showtime together have eight million paying subscribers, a figure execs hope to push to 25 million by … — Elaine Low/@Variety