Naveen Chopra, EVP and Chief Financial Officer at ViacomCBS: Expected to generate 7 billion dollars with global streaming at the end of 2024

Investing US$5b on streaming content by 2024
Maribel Ramos-Weiner|26 de febrero de 2021

One of the big expectations in the streaming universe is if ViacomCBS will maintain a competitive level of investment in content for its streaming services compared to what giants like Netflix, Amazon, and Disney + invest in that scenario.

During the presentation to the investors in the ViacomCBS Streaming Event, Naveen Chopra, EVP and Chief Financial Officer at ViacomCBS revealed that the plans are to pass from a billion dollars (that is what was invested in 2020 in content for streaming) to 5 billion dollars in 2024.

The executive announced that Paramount + in the US will have two tiers: a premium one for US$9.99 (to be launched on March 4) and another one supported by the advertisement for US$4.99. The advertisers that will back the service from the beginning include Expedia, Procter and Gamble, and General Motors.

Chopra highlighted that streaming is a global opportunity and as of 2021, the company will start to report the profits of the segment globally.

He explained that they estimate to generate 7 billion dollars with global streaming at the end of 2024. Chopra highlighted that the FAST (Free Ad-Supported Streaming TV) services are expected to grow to 50 billion users. He said that the company already has 43 million with Pluto TV and they estimate to reach between 100 and 120 million in 2024.

He furthered that in the US, the average of SVOD services per home in 2020 was between three and four, and this year it is estimated to reach five. Just Paramount + is estimated to reach between 65 and 75 million subscribers by 2024. The global projection of these services is 1.1 billion subscribers by 2025.

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