ViacomCBS Swings to Q4 Profit As Company Reveals Paramount Plus Content Details
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ViacomCBS swung to a profit in the fourth quarter, announcing results just before it unveiled a wide range of new details about the content it intends to show on the streaming-video hub Paramount Plus. The new venue is a critical initiative for the company as it seeks to vie with other media conglomerates also chasing consumers moving steadily from linear TV to on-demand programming.
The New York company, which owns the CBS broadcast network, the Showtime cable network and the Paramount movie studio, said revenue during the period rose 3% to $6.87 billion, buoyed by increases in ad sales, affiliate fees and subscriptions to streaming services like CBS All Access and the broadband version of Showtime. The company said its U.S. streaming subscriber base rose 71% to 19.2 million.
Woman to Head Japan Olympic Games Committee After Sexist Comments Scandal
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NBCUniversal Chief Pretty Confident Tokyo Summer Olympics Will Happen This Year
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Comcast and NBCUniversal leaders are hopeful that the summer Olympic Games will be held in Tokyo later this year despite uncertainty about the feasibility of large gatherings because of the coronavirus pandemic.
“I believe there will be an Olympics. I hope there will be an Olympics. That’s our best intelligence at this time,” Comcast chairman-CEO Brian Roberts said Thursday during the company’s fourth-quarter earnings call.
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The Olympics represents an enormous amount of business for Comcast’s NBCUniversal every two years, from $2 billion in ad sales and sponsorship deals to programming across its portfolio of broadcast and cable networks, and now to be extended to the fledgling streaming platform Peacock.
Los Angeles Filming Hit a Record Low in 2020, Reports FilmLA
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Filming in Los Angeles fell to an all-time low in 2020, not surprisingly, due to the COVID-19 pandemic.
FilmLA, partner film office for the City and County of Los Angeles and other local jurisdictions, issued a pair of reports Tuesday illuminating the impact of the COVID-19 pandemic on the Los Angeles film economy. The year-end report from FilmLA shed insight into the challenges faced by the industry as it attempted to resume production last September.
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As the coronavirus pandemic cases in Los Angeles continue to surge in 2021, president of FilmLA Paul Audley says, “We’ve not seen an increase in the number of applications that we’re receiving through this week.”
Global Streaming Boom Likely to Dip in 2021, Says Analysis From NATPE
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Streamers ruled NATPE even if super indies made most of the big announcements. That said, global platforms won’t have it all their own way in 2021, Omdia, a London consultancy, predicted in a NATPE Miami presentation.
In 2020, across the 328 online video subscription services that Omdia tracks, more subscribers over 226 million were added to the VOD industry than at any other point in history, Omdia’s Maria Rua Aguete said on a NATPE Miami Panel.
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“2020 has been a fantastic year for the video streaming market,” she explained in a presentation on the current state of play for streamers. “Pandemic had people locked down at home, but in terms of growth and in terms of paid additions to online subscriptions, it was one of the best years ever.”
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