The strong performance of streaming services including Paramount+ and Pluto TV has driven ViacomCBS to better-than-expected quarterly results.

Streaming revenue surpassed analyst expectations of US$6.57 billion, rising by 13% to US$6.61 billion for the quarter. The US media giant added 4.3 million global streaming subscribers to reach nearly 47 million in the quarter. This represents a year-over-year increase of 79%.

Source: 47 million streaming subscribers for ViacomCBS