ViacomCBS CEO: We will bring a 'different approach' to compete in streaming
TV+ and others. Disney announced 10 million customers signed up for its streaming program just one day into its launch earlier this week.
Still, Bakish is convinced that there is an audience to serve in the bundle category, even as most younger consumers prefer unbundled entertainment. The company will also distribute parts of its own content library, which includes tens of thousands of television and film titles."The majority, significant majority, of homes in the U.S. still get television, so of course we're feeding that.
Bakish, who heads Viacom, will become CEO once the merger finalizes in December. CBS CEO Joe Ianiello will head the CBS arm of the business. Viacom and CBS will consolidate their domestic advertising, distribution and global product licensing arms, Bakish said. In its September quarter, Viacom topped profit estimates and domestic advertising revenue from the three-month period the year prior. Domestic advertising revenue grew for the first time in six years, coming in at 6% for the quarter and 1% for the full fiscal year.
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