Jill Goldsmith Co-Business EditorViacomCBS reported domestic streaming and digital video sales – which includes streaming subscription and digital video advertising revenue – rose to $489 million in the second quarter, up 25% year-on-year, driven by a 52% bump in streaming subscription revenue and robust growth at Pluto TV.The stock popped higher in early trading on the numbers.
The company said total ad revenue slumped 27% year-over-year, hit by the COVID-19 impact on global advertising demand and tough comparisons sports-wise to the year-ago quarter that included the broadcast of the national semifinals and championship games of the NCAA Tournament and professional golf.
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