ViacomCBS Reaches Deal With Comcast to Distribute Paramount+ in Europe

ViacomCBS Inc. mentioned it included 6.5 million streaming subscribers across its platforms in the second quarter and unveiled a partnership with Comcast Corp.’s Sky Tv unit to distribute its Paramount+ service in many European markets.

The corporation, which owns the CBS broadcast network, the Paramount studio and cable channels this sort of as MTV and Comedy Central, said profits amplified 8% to $6.56 billion in the quarter, powered by gains in streaming movie and promoting revenue.

Viacom’s operating income lessened 2% to $1.23 billion in the time period, because of in element to the expenditures related with Paramount+ and decreased licensing income as opposed with a 12 months before, when there was a sizeable gain from licensing “South Park” to WarnerMedia.

The agreement with Comcast makes Paramount+ readily available free of charge to subscribers of Comcast’s Sky Cinema support in Sky marketplaces such as the U.K., Switzerland, Italy and Germany, the firm explained. The pact also extends the offer to have ViacomCBS channels on Sky’s shell out-Television devices.

The Wall Street Journal very last thirty day period reported that Comcast Chief Executive Brian Roberts fulfilled with ViacomCBS Chair Shari Redstone and ViacomCBS Main Government Bob Bakish to go over how the businesses could be part of forces in global marketplaces.