ViacomCBS Adds Paramount+ Subs in Q2; Stock Up

ViacomCBS ended Q2 with 42 million streaming subscribers worldwide, and its $982 million in streaming revenue nearly doubled from the same quarter a year ago, it reported the company Thursday. It said Paramount+ was the biggest driver of the 6.5 million new streaming subscribers it added. It said Paramount+ will launch in Australia and New Zealand this month and in European markets including the U.K., Germany, Italy and Ireland in 2022 through a partnership with Comcast's Sky. Total sales were $6.6 billion, up $489 million, with $411 million of the gain due to growing advertising revenue. Licensing revenue, at $1.24 billion, fell $701 million, partly reflecting depressed film licensing due to lack of theatrical releases in 2020 and early 2021, it said. ViacomCBS closed up 7.1% to $41.55.