The results are in, and Viacom is doing nicely, thank you.
For the three months ended March 31, net income for Viacom – which owns MTV, Comedy Central and Nickelodeon – increased by 41.4 percent to $376 million, or 93 cents a share, the company said. Excluding items, the company earned 95 cents a share, exceeding Wall Street’s expectations for 80 cents a share.
The earnings-per-share beat was offset, however, by a 6 percent drop in revenue to $2.27 billion, falling short of estimates for $3.06 billion, it reported. The company cited shrinking distribution fees for the revenue miss as it transitions content and advertising beyond pay-TV platforms.
Much of the excitement at Viacom surrounds Pluto TV, the ad-supported streaming platform that it acquired in January for $340 million.
Days ago, execs announced new premium content partnerships with premier networks, studios, and digital media brands. These new partnerships, with premium content providers such as Lionsgate, Metro-Goldwyn-Mayer (MGM), and Warner Bros. will power the 100+ channels found on Pluto TV with content that includes thousands of hit movies and TV shows. These partnerships will provide Pluto TV viewers with free access to movies such as MGM’s Silence of the Lambs and The Usual Suspects, and Lionsgate’s Haywire, Brothers, & Bad Boys as well as complete TV shows like Warner Bros.’s The Ben Stiller Show and Super Fun Night.
“Today’s partnerships announcement, with some of the world’s foremost content providers, further establishes Pluto TV’s commitment to its viewers,” said Tom Ryan, CEO of Pluto TV, in a release. “Now our viewers can watch their favorite movies and TV shows, while continuing to discover unique and rare programming found on Pluto TV.”
“We are delighted to be in business with Pluto TV,” said Ken Werner, President, Warner Bros. Domestic Television Distribution. “They have developed a terrific new offering for the constantly changing TV ecosystem.”
The new content, the company said, will expand programming on Pluto TV channels such as The Crime Network (ch. 504), which focuses on everything crime-related, Horror 24/7 (ch. 709), which showcases all things scary, The Feed (ch. 301), which covers the latest innovations in technology, Funny AF (ch. 250) a channel dedicated to comedy and Action Movies (ch. 704), which highlights the best of car chases and explosions. Other titles will include MGM’s The Birdcage, Thelma & Louise, Mad Max, Dances With Wolves, and Lars and the Real Girl.
“Pluto TV is an ideal partner as MGM’s storied premium content is now accessible to new viewers through their vast network of programming channels,” said John Bryan, MGM’s President, Domestic Television Distribution.
Viewers will be able to enjoy the new content on more than 100 channels of programming by accessing Pluto TV in the living room (Amazon’s Fire TV, Roku, Android TV, Chromecast, Smart TVs including Vizio, Hisense, and Sony, and gaming consoles such as PS4), on the go (apps for iOS, Android, and Amazon), at their fingertips on PC and Mac, or on the web at www.Pluto.TV.
National News2 weeks ago
US Synagogues, Summer Camps Prep for Active Shooter Scenarios
International latest news1 week ago
Sarsour Claims Jesus was Palestinian; ‘Are You That Stupid?’ says Netanyahu’s Son
New York City News2 weeks ago
Bklyn Court Candidate Slams Victor Who Switched to Jewish Surname as ‘Deceptive’
Op-Ed1 day ago
My Grandfather’s America
National News3 days ago
ANTIFA Radical Killed After Attacking ICE Center in Tacoma With Molotov Cocktails, Sited AOC Rhetoric in Manifesto
Breaking News3 weeks ago
Death Threats and Arrests of Palestinians Who Went to Bahrain
Fashion2 weeks ago
750 Hamptonites Gather at Fishel Estate for “Social Life” Magazine Party
featured3 weeks ago
Governor Andrew Cuomo visits the Western Wall