Viacom plans to launch its own streaming service this year

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During its quarterly results call last week, Viacom announced that it plans to launch an ad-supported streaming-video service by September, in the United States, with contents from across its portfolio.
“What I can say is that it’s going to be significant and it’s also going to be differentiated from what’s in the marketplace today”, said Viacom CFO Wade Davis on the earnings call. “It’s going to be rolled out in the U.S., in terms of the amount of content that it’s going to have, it’s going to have tens of thousands of hours of content that cut across the library we have on a global basis”.
“And it’s important to note one of the reasons that we are able to do this is that we’ve chosen to curtail the amount of content that we license into third-party B2C experiences,” the executive added.
Robert Bakish, president and CEO of the company, said that they see this product as “a complement” to pay TV platforms, and not as a substitute. However, the company did not disclose further details about the offer.
Meanwhile, Viacom is evaluating a potential combination with CBS, more than a decade after the companies separated. CBS has its own OTT service, CBS All Access, which the company said it will expand outside the United States.

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