VIACA - ViacomCBS call: M&A prospects streaming's global push

ViacomCBS stock (VIAC +0.5%, VIACA +1.3%) has some modest gains in second-day action after yesterday's 7% rise following Q2 earnings, where the focus landed on growing success at the company's streaming operations. Streaming subscription revenue jumped 82%, and streaming ad revenue more than doubled - and ViacomCBS is looking to push its premium service, Paramount Plus, into 45 markets by the end of 2022 after a new deal with Sky to launch in Europe. The international launch got some focus on the company's earnings conference call from CEO Bob Bakish, who said the Sky pact was "a powerful deal." ViacomCBS has long been active outside the United States (Bakish spent a decade running the international business) and the global orientation now encompasses streaming, he says. Now the new deal not only extends benefits and economics form the legacy business, it's also "a game changer for Paramount Plus in these markets

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ViacomCBS call: M&A prospects, streaming's global push