With Ambitious Paramount+ Launch, ViacomCBS Targets 65 Million-75 Million Streaming Subs By 2024
ViacomCBS forecast streaming subscribers will grow to 65-75 million, mostly at Paramount+ as the company unveiled its new direct-to-consumer service to launch March 4.
The company will ramp up investment in pure streaming content to $5 billion in 2024 from $1 billion last year and that could accelerate if its services exceed subscriber growth targets, said CFO Naveen Chopra towards the close an all-hands-on-deck presentation. That’s part of total company content spend which was about $15 billion last year. He declined to break streaming but said the mix will evolve.
It’s an ambitious target, above the stated budget of other new streaming services like WarnerMedia’s HBO Max and NBCUniversal’s Peacock, though well below the shock-and-awe $19 billion of Netflix.
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