Viacom’s streamer CBS All Access is going to rebrand this summer to incorporate more of the company’s cable channels and library programming, CEO Bob Bakish said in a May 7 earnings call.
Alongside the rebrand, CBS All Access will overhaul its user-interface, although no timeframe is specified for a finalized product, in prepreation for the relaunch. Just last year, after Viacom and CBS merged, the SVOD added kids content to its platform for the first time with series from Boat Rocker and WildBrain. Nickelodeon joined the platform shortly after, adding its own library to the streamer.
ViacomCBS brands, like Nickelodeon, will be adding more current and library shows to the revamped platform and also product original content for the expanded SVOD.
Bakish also said on the Q1 2020 earning’s call that ViacomCBS is planning to launch a “broad pay streaming product” in several international markets over the course of the next 12 months.
The company’s revenue for the quarter dropped 6%, its operating income fell 49% and net earnings dipped 74%, due primarily to a 19% decline in year-over-year advertising revenue. However, despite this grim earnings report, there was significant growth in domestic streaming and digital video revenue and subscribers, according to ViacomCBS.
“We are just beginning to tap into the potential of our combined assets, and our growing scale, audience reach and earnings power will become even more apparent as the market rebounds and we put the power of our portfolio behind our streaming strategy,” said Bakish.
Domestic streaming and digital video revenue (which includes subscriptions and digital advertising revenue) was up 51% year-over-year this quarter. Its subscribers on domestic platform surpassed 13.5 million, which is 50% higher than last year. And its AVOD platform Pluto TV grew to 24 million monthly active users, 55% higher than the previous year.
In April, during the COVID-19 induced lockdowns, ViacomCBS’ streaming platforms had their best month yet as subscriber growth accelerated, alongside consumption, according to the Q1 report.