With so many new streaming services being introduced, some existing services are feeling the pressure. ViacomCBS CEO Bob Bakish has a plan.
Now that Viacom and CBS have combined again, Bakish says that he wants the company to be competitive in every area of the industry, including ad-supported and paid video on demand services.
“We think uniting these assets is a tremendous opportunity in the marketplace,” Bakish told Cheddar.
ViacomCBS owns Pluto TV which Bakish believes will give streaming viewers an opportunity to try streaming content without making a financial commitment. Pluto TV can be used to promote paid services, including Noggin, BET+, CBS All Access, and Showtime.
With the merger, ViacomCBS will have a $30 billion market value with combined annual revenues of $28 billion. With all of the streaming services the company owns, they will also have a content library of 140,000 TV episodes and 3,600 movies, along with a $13 billion budget for content.
This puts ViacomCBS in a strong position to compete against existing and new streaming services. While investors are concerned about the size and scale of the company, Bakish believes these are the factors that will make the company competitive.
As the ‘streaming war’ continue, ViacomCBS will be a company to keep an eye on.
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