ViacomCBS Ad Sales Drop 27% in COVID Quarter, but Streaming Revenue Rises 52%

Company beats Wall Street’s earnings and revenue forecasts as Q2 theatrical revenue plummets 98%

ViacomCBS absorbed a 27% drop in ad sales during the COVID-plagued second quarter of 2020, when the company also reported a 52% increase in streaming subscriptions revenue.

On Thursday, ViacomCBS said its domestic streaming subscriber count, which includes both CBS All Access and Showtime OTT customers, reached 16.2 million by June 30, 2020, which was 74% better than a year ago.

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Jennifer Maas

Jennifer Maas

TV Reporter • jennifer.maas@thewrap.com • @jmaas421

Tony Maglio

Tony Maglio

TV Editor • tony.maglio@thewrap.com • Twitter: @tonymaglio