"Advertising revenue grew 24 percent . View the full release here: https://www.businesswire.com/news/home/20191114005222/en/, Domestic advertising revenue grew 6% in the quarter, driven by the continued success of Advanced Marketing Solutions. The following tables reconcile the adjusted measures to their most directly comparable financial measures in accordance with GAAP. Frequently Asked Questions. Excluding items, ViacomCBS's earnings per share of 97 cents also missed expectations of $1.44, according to IBES. It was the world's eighth largest entertainment company in terms of revenue, and headquartered at the CBS Building in Midtown Manhattan, New York City. Fourth quarter revenue was impacted by current year slate performance and the number and mix of film titles compared to the prior year. Attributable The company has a powerful content engine -including global production capabilities, and a vast library of premium TV and film titles -that spans all genres, formats, demographics and geographies. As a result of these transactions, we recognized pre-tax extinguishment gains of $18 million and $25 million, respectively, in the Consolidated Statements of Earnings. The company was formed in 2019 with the merger of CBS Corporation and Viacom. Viacom creates entertainment experiences that drive conversation and culture around the world. Reconciliation of net cash provided by operating activities ViacomCBS last posted its quarterly earnings results on August 5th, 2021. ViacomCBS was formed in 2019 when CBS and Viacom merged—13 years after breaking apart. Income Taxes, Net Earnings from Vice President, Investor Relations Found inside – Page 158... in US Sub-Industries Revenues ($billion, Company Power Index in US 2019/20) ... AT&T 2.2 Facebook 76 ViacomCBS 33 ViacomCBS 27.8 Microsoft 6.1 ViacomCBS ... And, for the first time in four years, we returned Paramount to full year profitability – a testament to the strength of our strategy and content slate. Found inside – Page 1"The first book from Ruth Bader Ginsburg since becoming a Supreme Court Justice in 1993--a ... collection of writings and speeches from the woman who has had [an] ... influence on law, women's rights, and popular culture"-- Continuing These measures, as we calculate them, may not be comparable to similarly titled measures employed by other companies. INVESTORS AND SECURITY HOLDERS OF CBS AND VIACOM ARE URGED TO READ THE REGISTRATION STATEMENT, WHICH INCLUDES THE JOINT CONSENT SOLICITATION STATEMENT / PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PENDING MERGER AND RELATED MATTERS. Operations (b), Restructuring and other corporate matters (c), Earnings from Full year Adjusted OIBDA decreased 19%, driven by lower revenues and increased costs, including higher investment in content and advertising and promotional expenses. Choosing a profession begins with imagining yourself in a career: here are all the details you need to get started in the popular field of real estate—from salary expectations, regional challenges, and how to use social media to your ... James Bombassei … Taxes, Net Earnings ViacomCBS, the home of "SpongeBob," "Star Trek" and "Billions," beat Wall Street's first-quarter estimates, thanks to strong streaming revenue and advertising sales due to its broadcast of this . Excluding the tax benefit and other non-operating items, ViacomCBS' operating profit margin declined from 20% in 2017 to 15% in 2019 due to higher operating cost and merger-related expenses . In depth view into ViacomCBS Revenue (Quarterly) including historical data from 1994, charts, stats and industry comps. The forward-looking statements included in this communication are made only as of the date of this communication, and we do not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances. Its global streaming revenue grew by 65 per cent to $816 million (€676.5m), as it topped 36 million total streaming subscribers, up 6 million, and its Pluto TV AVoD unit added 6 million monthly active users to reach almost 50 million. − Theatrical revenue declined reflecting the comparison to Mission: Impossible – Fallout in the prior year. Operations Before The appointments, effective upon closing of the deal to combine CBS and Viacom, will enable ViacomCBS to drive strong, multifaceted opportunities with distributors, advertisers and other partners. ViacomCBS grew its global . Found inside – Page 1962This book gets you up to speed on the essentials of REIT investing so you can make more informed—and profitable—decisions. − Driven by Viacom Digital Studios, Viacom reached its highest ever social video consumption, rising to #5 in Tubular’s Media & Entertainment ranking in September, up from 26 two years ago. By ViacomCBS Staff. Director, Corporate Communications Forward-looking statements reflect our current expectations concerning future results, objectives, plans and goals, and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause future results, performance or achievements to differ. (Includes Domestic Revenue) 2020. provided by operating activities from continuing operations: Television programming and feature film cost amortization, Net (gain) loss on dispositions and impairment of assets, Equity in loss of investee companies, net of tax and distributions, Increase in inventory and related program and participation liabilities, net, Increase (decrease) in accounts payable and other liabilities, Increase (decrease) in pension and postretirement benefit obligations, Net cash flow provided by operating activities from continuing operations, Net cash flow provided by operating activities from discontinued operations, Net cash flow provided by operating activities, Net cash flow used for investing activities from continuing operations, Net cash flow used for investing activities from discontinued operations, Net cash flow used for investing activities, Proceeds from (repayments of) short-term debt borrowings, net, Payment of payroll taxes in lieu of issuing shares for stock-based compensation, Net cash flow used for financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net (decrease) increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of year Found insideBillion Dollar Whale has joined the ranks of Liar's Poker, Den of Thieves, and Bad Blood as a classic harrowing parable of hubris and greed in the financial world. anthony.diclemente@viacbs.com All statements that are not statements of historical fact are, or may be deemed to be, forward-looking statements. ViacomCBS's Paramount Pictures has reportedly used an elaborate strategy to avoid paying U.S. taxes on its entertainment properties. ViacomCBS beat first-quarter results expectations, with a surge in streaming revenue. (February 24, 2021). The ViacomCBS-owned legacy studio reported first-quarter revenue last week of $811 million, up compared with the same three-month period last year, and operating income before depreciation and . Join to Connect . ViacomCBS annual net income for 2020 was $2.422B, a 26.78% decline from 2019. ViacomCBS said it expects revenue to improve by mid-single digit percentages during 2020 or about $29.2 billion if revenue were to rise by 5%. ViacomCBS shares have climbed almost 5% since the beginning of the year. In addition, free cash flow as a measure of liquidity has certain limitations, does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. from Continuing Operations In addition, we use Adjusted OIBDA to, among other things, value prospective acquisitions. (b) See notes on the following tables for additional information on items affecting comparability. In 2020 the company made a revenue of $25.28 B a decrease over the years 2019 revenue that were of $27.81 B .The revenue is the total amount of income that a company generates by the sale of goods or services. It's up to about 50 . Focus on global, cross-company franchise management to get the most out of powerful IP. Viacom, Restructuring and other corporate matters(2). Before Income US$4.14 billion (2020) Net income. ViacomCBS Inc. is a media and entertainment company which creates premium content and experiences for audiences. Justin Blaber On CBS, the NFL finished the 2019-20 season as the most-watched season in three years. Paramount’s fiscal year 2020 film slate is at 17 films versus 11 in the prior year. ViacomCBS on Friday reported total revenue of $6.12 billion and earnings per share of 91 cents in the third quarter, exceeding Wall Street estimates but reflecting ongoing headwinds from COVID-19. However, common sense might suggest the story . For more information about Viacom and its businesses, visit www.viacom.com. Viacom may also use social media channels to communicate with its investors and the public about the company, its brands and other matters, and those communications could be deemed to be material information. Advertising revenue fell 2% to $3.03 billion during the quarter as domestic ad . Before Income ViacomCBS Inc. today reported financial results for the quarter and full year ended December 31st, 2019. (3) Pursuant to our adoption of Accounting Standards Update 2016-01 - Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, which requires the changes in fair value measurement of marketable securities to be recognized in the Consolidated Statements of Earnings, we recorded a non-operating gain on marketable securities of $11 million and $32 million in the quarter and year ended September 30, 2019, respectively, included within Other items, net in the Consolidated Statements of Earnings. 1,914 1,954 6,838 6,879 Selling, general and administrative. Fourth quarter Adjusted OIBDA declined, reflecting lower political advertising, content licensing and higher expenses. Basic earnings per share attributable to Viacom: Diluted earnings per share attributable to Viacom: Weighted average number of common shares outstanding: Class A common stock, par value $0.001, 375.0 authorized; 49.4 and 49.4 outstanding, respectively, Class B common stock, par value $0.001, 5,000.0 authorized; 354.3 and 353.7 outstanding, respectively, Treasury stock, 392.5 and 393.1 common shares held in treasury, respectively. Showtime was the #1 premium network on Sunday nights in the quarter. Found insideSeeing no viable alternative, they have watched liberal politicians take the black vote for granted without pledging anything in return. In Blackout, Owens argues that this automatic allegiance is both illogical and unearned. Use ViacomCBS’ leadership positions off- and on-screen – and the company’s huge global footprint – to promote priorities. The steady flow of licensing has offered welcome revenue for the company, which reunited Viacom and CBS (whose shares are controlled by Shari Redstone, now chairman of ViacomCBS) in December 2019. Primal Self -- he was an ordinary house cat leading an ordinary existence. A shadowy memory from another time changed all that. Garfield -- the marvelous cat we all know and love. This is his life in a nutshell. Restructuring and other corporate matters, Equity in net earnings of investee companies, Earnings from continuing operations before provision for income taxes, Net earnings (Viacom and noncontrolling interests), Net earnings attributable to noncontrolling interests. (212) 846-5237jaime.morris@viacom.com, Viacom Reports Fourth Quarter and Full Year Results, https://www.businesswire.com/news/home/20191114005222/en/, Net earnings from continuing operations attributable to Viacom, Adjusted net earnings from continuing operations attributable to Viacom, Adjusted diluted EPS from continuing operations. − Media Networks studio production continues to expand, with 17 domestic series ordered to or in production, up from 6 last year. October 31, 2019. ViacomCBS. Full year Adjusted OIBDA decreased 7%, reflecting the decline in revenue and higher costs from the mix of titles. We believe these measures are relevant and useful for investors because they allow investors to view performance in a manner similar to the method used by our management; provide a clearer perspective on our underlying performance; and make it easier for investors, analysts and peers to compare our operating performance to other companies in our industry and to compare our year-over-year results. SOUTH LAKE TAHOE, Calif.-- ( BUSINESS WIRE )--Today, MTV's SnowGlobe Music Festival announces an expanded sponsorship program with doubled revenue for the festival's ninth installment on December 29-31, 2019, in South Lake Tahoe, CA. (7) We completed the sale of a 1% equity interest in Viacom18 to our joint venture partner for $20 million, resulting in a gain of $16 million in the year ended September 30, 2018, included within Other items, net in the Consolidated Statements of Earnings. In Q2 of this year, ViacomCBS — parent company of the CBS broadcast network, Showtime, Nickelodeon and the Paramount movie studio — saw revenue rise 8 percent to $6.6 billion and the addition of 6.5 million new streaming subscribers for a total of 42+ million. For more information about ViacomCBS, please visit www.viacbs.com and follow @ViacomCBS on social platforms. ViacomCBS sold $3 billion in VIAC stock earlier this year and used some of the funds to beef up its streaming channels. Since these are not measures of performance calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, operating income, earnings from continuing operations before provision for income taxes, provision for income taxes, net earnings from continuing operations attributable to Viacom, diluted EPS from continuing operations and net cash provided by operating activities as indicators of operating performance and they may not be comparable to similarly titled measures employed by other companies. ViacomCBS is one of the largest content producers and providers in the world. Attributable to Because the adjusted measures are measures of performance not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, operating income (loss), earnings (loss) from continuing operations before income taxes, (provision) benefit for income taxes, net earnings (loss) from continuing operations attributable to ViacomCBS or diluted EPS from continuing operations, as applicable, as indicators of operating performance. Paramount Television continues to grow and deliver great content, with 26 shows ordered to or in production. US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. CBS has announced senior leadership appointments across ViacomCBS' revenue lines. Provision for In addition, we recognized $20 million and $63 million, respectively, in connection with other corporate matters. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, CBS All Access, Pluto TV and Simon & Schuster, among others. 4,213 4,668 14,992 16,713 Selling, general and administrative. Adjusted OI was impacted by investments in key growth initiatives, including Pluto TV and the launch of BET+. − Ancillary revenue grew 33% for the full year, driven by higher licensing fees from international theme parks and a new music rights agreement. VIACOMCBS INC. AND SUBSIDIARIES For the full year, ViacomCBS reported $2.56 billion in streaming and digital video revenue, an increase of 49% from 2019. Viacom, Diluted EPS from ViacomCBS was founded in 2019.. Who are ViacomCBS key executives?. 891 806 3,146 3,054 Depreciation and amortization. Diluted net earnings (loss) per common share attributable to ViacomCBS: Weighted average number of common shares outstanding: VIACOMCBS INC. AND SUBSIDIARIES Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. by the coronavirus pandemic to record a decline to $1.93 billion after reaching $2.65 billion in the second quarter of 2019. Free cash flow is among several components of incentive compensation targets for certain management personnel. − Launched 43 new channels, including 24 Viacom-branded channels in the quarter. This press release features multimedia. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. Added 6.5M Global Streaming Subscribers to Reach Over 42M in the Quarter, and Realized 82% Year-Over-Year Growth in Streaming Subscription Revenue, Fueled by the Diverse Global Content Offering of . We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. CBS Corp. previously forecast the two streaming services would reach 25 million . ViacomCBS Inc. is an American multinational media conglomerate headquartered in New York City. Basic net earnings (loss) per common share attributable to ViacomCBS: Net earnings from discontinued operations. Anthony DiClemente Domestic affiliate revenue increased 1% for the full year and quarter, driven by higher OTT and studio production revenue and contractual rate increases, which were partially offset by subscriber declines. Jaime Morris * Beginning Q1 2019, Media Networks revenue components previously reported as Ancillary were renamed to Consumer Products, Recreation and Live Events. In January, ViacomCBS announced a renewed carriage agreement with Comcast, including retransmission of 23 CBS-owned TV stations in 15 major markets across the US. Source: 2020 Q4 earnings presentation ViacomCBS Viacom acquired the company for $340 million in January 2019. Fourth quarter revenue declined 2% as linear subscriber declines more than offset growth from OTT services. The following table presents a reconciliation of our net cash flow provided by (used for) operating activities to free cash flow: Net cash flow provided by (used for) operating activities (GAAP), Less: Operating cash flow from discontinued operations, Press: October 30, 2019, 9:08 AM PDT. Track elected officials, research health conditions, and find news you can use in politics . − Viacom owned more top 30 original cable series in the quarter than any other cable family among key demos. Found inside – Page 59After years of having an on-again, off-again relationship, the two companies merged to become ViacomCBS in late 2019. The combined company has revenue of ... $845 million of that was from domestic totals. The merger, if completed, would create a media giant, called ViacomCBS, Inc., with roughly $28 billion in revenue. Overall, ViacomCBS's domestic streaming and digital video revenue rose 56% from the comparable 2019 quarter to $636 million, with the above-mentioned 78% spike for subscription streaming alone. Theatrical revenue was at $180 million, down 67% from $547 million in 2019, due to the . − Crawl generated over $90 million worldwide. Revenue: US$25.29 billion (2020) Operating income. Cannabis Capital is the definitive resource outlining the fundamentals for building a company that will attract investment, why investors will invest and how to successfully raise capital. (5) In the year ended September 30, 2019, we recognized $77 million of programming charges associated with continuing initiatives primarily related to management changes and reorganization at Media Networks. We see incredible opportunity to realize the full power of our position as one of the largest content producers and providers in the world. Driven by the continued success of Advanced Marketing Solutions (AMS), domestic advertising revenue grew 1% for the full year, representing its first full year of growth in six years. The net discrete tax benefit in the quarter ended September 30, 2018 was principally related to the recognition of certain loss carryforwards. (8) We recognized a $46 million impairment loss in the year ended September 30, 2018, included within Other items, net in the Consolidated Statements of Earnings, in connection with the write off of certain cost method investments. The programming charges resulted from decisions by management newly in place, as part of our 2018 restructuring activities, to cease the use of certain programming, and are included within Operating expenses in the Consolidated Statement of Earnings. − Second season of Tom Clancy’s Jack Ryanpremiered on Amazon Prime Video in November. (212) 846-2724justin.dini@viacom.com, Justin Blaber Our net cash flow provided by operating activities is the most directly comparable GAAP financial measure. Taxes, Net Earning (2) In the quarter and year ended September 30, 2019, we recognized restructuring charges of $22 million and $114 million, respectively. FY, 2018. ViacomCBS announces leadership. The second merger between Viacom and CBS Corporation, creating the combined ViacomCBS company, was announced on August 13, 2019; the merger was completed on December 4, 2019. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 1,516 "Our job is to bring clients incremental reach," explained Harold Morgenstern, senior VP and had of national advertising for Pluto TV, speaking on an Ad Age virtual panel event Monday. With this as a backdrop, we’ve set clear targets for the year and are providing increased transparency around our business to demonstrate ViacomCBS’ ability to create shareholder value today, as we continue evolving and growing our business for tomorrow.”, OVERVIEW OF Q4 & FULL YEAR REVENUE RESULTS. Getty Images, Viacom, CBS. The annual three-day event welcomes more than 20,000 fans each day with a . (h) Primarily reflects a deferred tax benefit of $768 million resulting from the transfer of intangible assets between our subsidiaries in connection with a reorganization of our international operations; tax benefits of $44 million realized in connection with the preparation of the 2018 federal tax return, based on further clarity provided by the United States government on tax positions relating to federal tax legislation enacted in December 2017 (the “Tax Reform Act”); and a tax benefit of $39 million triggered by the bankruptcy of an investee. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Full year Adjusted OIBDA decreased 1%, as a result of increased content investment and higher costs associated with the growth and expansion of streaming services, partially offset by higher revenues. 71 % Full . − Licensing revenue increased by 5% for the full year and 26% for the quarter, driven by growth in TV production. Senior Director, Corporate Communications ViacomCBS has reported higher Q1 earnings as its streaming units posted gains in subscribers, users and revenue. We define free cash flow as net cash provided by operating activities minus capital expenditures. The transformation likely can't happen fast enough for ViacomCBS, which saw overall quarterly revenues drop from nearly $6.7 billion in 2019 to $6.1 billion in 2020 on a GAAP basis. . More than perhaps any other company, 2019 was a game-changing year for ViacomCBS (NASDAQ: VIAC).While it's well known that Viacom and CBS finally consummated their merger in December, 13 years . jaime.morris@viacbs.com. The Harder You Work, The Luckier You Get offers a view inside Joe Ricketts’ mind, giving readers a visceral understanding of how entrepreneurs think and act differently from the rest of us—how they see the horizon where we just see a ... Full year revenue declined 2%, as higher streaming and studio production revenue was more than offset by a decrease in linear subscribers and an approximate 200 bps unfavorable F/X impact. Since then, Pluto TV has quintupled its active users and more than tripled its ARPU . (in millions), Net cash provided by operating activities (GAAP), View source version on businesswire.com: https://www.businesswire.com/news/home/20191114005222/en/, Press: The financial results shown reflect those of Viacom and CBS prior to the merger of the two companies, which occured in December . Its share of total revenue in the third quarter of 2019 increased to 34%. ViacomCBS said Pluto TV revenue doubled in the third quarter, compared to Q3 2019. Operations from December 4, 2019. They've helped hundreds of women identify their goals, cultivate their confidence, and double down on their superpowers. Now, they want to do the same for you. A $1B-revenue business since its acquisition by ViacomCBS, free streamer Pluto TV has a nimble programming strategy that sibling Paramount+ may borrow. Aug 05, 2021. Free cash flow, a key measure of a media company's health, is expected to rise to between $1.8 billion and $2 billion, up from $1.2 billion in 2019. By Jason Lynch. Operating assets and liabilities, net of acquisitions: Accounts payable and other current liabilities, Net cash provided by operating activities, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES. “In less than three months since completing our merger, we have made significant progress integrating and transforming ViacomCBS. Prior period amounts have been recast to conform to the current presentation. 333 234238) (the “Registration Statement”) that includes a joint consent solicitation statement of CBS and Viacom and that also constitutes a prospectus of CBS (the “joint consent solicitation statement / prospectus”). Part of the vanguard of young New York publishers who revolutionized the book business in the 1920s and ’30s, Cerf helped usher in publishing’s golden age. (includes $202 (2019) and $120 (2018) of restricted cash), SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES . − Licensed South Park streaming rights to HBO Max, demonstrating the appeal and value of Viacom IP. The company delivers the largest share of the U.S. television audience and boasts one of the industry’s most important and extensive libraries of TV and film titles. to ViacomCBS. When was ViacomCBS founded?. ViacomCBS' rebranded version of CBS All Access faces fierce competition in a highly competitive market. − Viacom International Media Networks reached several new distribution deals for Viacom’s owned and operated SVOD and mobile apps. Found inside... 2019 ViacomCBS Inc. television and streaming properties as of December 31, 2019 Fox ... 2019 Average subscribers and affiliate revenue per month for six ... Found insideBrodie knows this is a difficult mission, made more difficult by his new partner’s inexperience, by their undeniable chemistry, and by Brodie’s suspicion that Maggie Taylor is reporting to the CIA. Viacom and CBS commenced mailing the definitive joint consent solicitation statement / prospectus to Viacom stockholders and CBS stockholders on or about October 28, 2019. − Nickelodeon Studios announced a new multi-year output deal to produce original animated films and series for Netflix. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. And Portuguese programming revenues rose 14 % from the same every year, is n't it will available. Continuing operations attributable to viacomcbs: net earnings ( loss ) per common share attributable to viacomcbs Aug. Of BET+ in TV production York, United States revenue reached $ million! M & amp ; a play is going down in the quarter full... 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