ViacomCBS reported its third-quarter 2021 earnings, with revenue growth driven by strength in digital streaming and broad performance across its business segments. Total company revenue for the quarter ended September 30, 2021, increased by 13 percent year-over-year, reflecting growth in advertising, affiliate, streaming, and licensing revenue sources.
Streaming revenue was a major contributor to overall results. Global streaming revenue surpassed $1 billion for the first time, up 62 percent from the same quarter in 2020. New subscriber momentum was also notable, with ViacomCBS adding approximately 4.3 million global streaming subscribers in the quarter, bringing the total to nearly 47 million subscribers worldwide, the company reported. Subscriber gains were supported by Paramount+ offerings and engagement from Pluto TV.
Advertising revenue in the quarter grew modestly, while affiliate revenue also improved, contributing to a diversified revenue base. Licensing and other revenue categories, including fees from programming licensing and related activities, increased meaningfully year over year. These results highlight the company’s expanding monetization opportunities across content distribution networks.
Operating income and diluted earnings per share reflected ongoing investment in content and in the expansion of the streaming platform, consistent with the company’s strategic focus on long-term digital growth. ViacomCBS reaffirmed its commitment to leveraging content, market expansion, and global distribution to support continued subscriber growth and revenue diversification.
The third-quarter results illustrate the entertainment and media conglomerate’s transition to a more streaming-centric business model, with digital engagement playing a central role in performance. This transformation aligns with broader industry trends as consumer behavior shifts toward on-demand content and subscription services.
As ViacomCBS progresses, executives highlighted ongoing strategic investments in streaming content, platform development, and global expansion, underscoring the importance of digital revenue streams in the company’s future performance. The third-quarter earnings add to an evolving narrative of legacy media companies adapting to a rapidly changing digital landscape.
