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Austria Economy

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ViacomCBS CEO Bob Bakish on Thursday projected substantial subscriber growth for the company’s major streaming platforms: Pluto TV, CBS All Access and Showtime.

Currently, Pluto has more than 22 million monthly active users, up 75% year over year, Bakish said on a conference call following its first earnings report since its re-merger last Decemeber. ViacomCBS expects that the ad-supported service will reach 30 million subscribers by the end of December 2020.

CBS All Access and Showtime are currently combining for more than 11 million paid subs, up 50% year over year. Bakish believes that number will grow to 16 million at year’s end. ViacomCBS always reports those pay services together.

For comparison, streaming giant Netflix recently reported 61 million U.S. subscribers and 167 million worldwide.

Also Read: ViacomCBS Whiffs on Wall Street's Estimates for First Quarterly Earnings

“But our streaming foundation is not just usage, it’s also financial,” Bakish said. “In 2019, our domestic streaming and digital video business — which includes subscription revenue and digital video advertising — had approximately $1.6 billion in revenue. We see this as a key metric for ViacomCBS and anticipate it growing between 35 and 40% this year, with relatively modest, incremental operating expenses.”

Bakish added that the subscriber growth ViacomCBS has achieved in streaming so far “is overwhelmingly in the U.S., but we’re making early strides to expand internationally.”

“Pluto is already in the U.K., Germany, Austria and Switzerland. And it’s launching in Latin America next month,” he said. “On the pay side, All Access is available in Canada and Australia and our Paramount Plus and Noggin products are also live in numerous territories.”

Also Read: 'RuPaul's Drag Race All Stars' Sets Special Edition at Showtime

The updates and guidance from Bakish came as part of ViacomCBS’ fourth-quarter 2019 earnings conference call. Read all about the company’s actual Q4 performance here.

Wall Street was disappointed by those results, and company stock is currently trading down 18%.

Related stories from TheWrap:

ViacomCBS Stock Sinks 18% After Reporting Q4 Loss

ViacomCBS Whiffs on Wall Street's Estimates for First Quarterly Earnings

ViacomCBS Plans 2 Rounds of Layoffs

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Austria is one of the 12 richest countries in the world in terms of GDP per capita, has a well-developed social market economy, and a high standard of living. Until the 1980s, many of Austria's largest industry firms were nationalised; in recent years, however, privatisation has reduced state holdings to a level comparable to other European economies. Labour movements are particularly strong in Austria and have large influence on labour politics. Next to a highly-developed industry, international tourism is the most important part of the national economy. Germany has historically been the main trading partner of Austria, making it vulnerable to rapid changes in the German economy. However, since Austria became a member state of the European Union it has gained closer ties to other European Union economies, reducing its economic dependence on Germany. In addition, membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to the aspiring economies of the European Union. Growth in GDP accelerated in recent years and reached 3.3% in 2006. In 2004 Austria was the fourth richest country within the European Union, having a GDP (PPP) per capita of approximately € 27,666, with Luxembourg, Ireland, and Netherlands leading the list. Vienna was ranked the fifth richest NUTS-2 region within Europe with GDP reaching € 38,632 per capita, just behind Inner London, Luxembourg, Brussels-Capital Region and Hamburg. Growth has been steady in recent years 2002-2006 varying between 1 and 3.3 %.


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