Subscriber Growth - Global streaming subscribers increased to 56.1 million, an 88% year-over-year growth[13] - Paramount+ reached 32.8 million global subscribers as of December 31, 2021[13] - Pluto TV surpassed $1 billion in revenue for the year and had 64.4 million global monthly active users, a 49% increase year-over-year[13] Revenue Breakdown - TV Entertainment accounted for approximately 44% of consolidated revenues in 2021[20] - Cable Networks contributed approximately 47% of consolidated revenues in 2021[20] - Filmed Entertainment represented about 9% of consolidated revenues in 2021[21] - In 2021, Cable Networks generated approximately 47% of CBS's consolidated revenues, with affiliate revenues accounting for 39% of total revenues in this segment[47] - Filmed Entertainment generated approximately 9% of consolidated revenues in 2021, 9% in 2020, and 11% in 2019[64] - In 2021, Filmed Entertainment licensing and other revenues accounted for approximately 92% of total revenues, while theatrical revenues accounted for 8%[64] Content and Programming - Paramount+ features over 2,000 live and on-demand soccer matches annually, including UEFA matches[28] - A Quiet Place Part II was a significant hit, launching in theaters and on Paramount+ after a 45-day theatrical window[14] - CBS Sports Network broadcasts a diverse slate of sports, including NCAA Division I Men's Basketball Tournament and NFL games, contributing to significant viewership[39] - CBS Studios produces a wide range of content, including popular series like NCIS and Blue Bloods, and maintains an extensive library of intellectual property, including the Star Trek universe[36] - CBS Media Ventures produces first-run syndicated programming, including popular shows like The Dr. Phil Show and Jeopardy![37] - Nickelodeon has been the number-one-rated advertising-supported basic cable network for 26 consecutive years among kids aged 2 to 11[52] - In 2021, Nickelodeon launched a licensing partnership with Melissa & Doug to deliver PAW Patrol and Blue's Clues and You! co-branded toys[52] - Nickelodeon Hotels & Resorts Riviera Maya opened in 2021 in partnership with Karisma Hotels & Resorts and Grupo Lomas[52] - Paramount Pictures has an extensive library of over 1,200 film titles and rights to nearly 2,900 additional films[65] - Paramount Animation co-produced The SpongeBob Movie: Sponge on the Run, which was digitally released in March 2021[67] Financial Activities - The company raised approximately $2.7 billion in net proceeds from public equity offerings in March 2021[18] - The company operates television stations that reach approximately 38% of all U.S. television households, attributed with reaching about 24% for purposes of the national ownership rule[98] - The company files annual, quarterly, and current reports with the SEC, which are available on its website and the SEC's website[120] - Material financial information is announced through SEC filings, press releases, and public conference calls, with an emphasis on transparency[121] International Expansion - The company launched Pluto TV in Italy and plans to expand to the Nordics in 2022[16] - CBS's international operations include extensions of Paramount+ and Pluto TV, expanding its global footprint in the media landscape[45] - ViacomCBS Networks International provides distribution and advertising solutions for partners across more than 180 countries[60] Diversity and Inclusion - As of December 31, 2021, approximately 49% of U.S. employees were female, and about 39% self-identified as part of a racial or ethnic minority group[85] - The company has set new goals for 2021 to accelerate performance on key diversity, equity, and inclusion (DE&I) objectives, including a target global hire and promotion rate for female Senior Vice Presidents and above[85] - The company has been recognized for its workplace culture, including being named a 2021 Most Loved Workplace by Newsweek and one of America's Best Employers for Diversity by Forbes[89] - The company sponsors eight active employee-led Employee Resource Groups (ERGs) with 53 chapters in 19 locations worldwide, with more than half of employees being members[85] Employee Engagement and Well-being - In 2021, the company launched its first global employee engagement survey, which was administered by an independent third party, to assess efforts around employee engagement, inclusion, and well-being[89] - The company launched a behavior-change app in 2021 to help employees manage stress and improve overall well-being[89] Legal and Regulatory Compliance - The company is subject to FCC regulations, which impose a maximum forfeiture penalty of approximately $445,445 per indecent or profane utterance, with a maximum exposure of about $4.1 million for any continuing violation[101] - The company has three pending renewal applications for its television broadcast licenses as of February 14, 2022, and will be filing applications for most remaining stations in 2022 and 2023[95] - The company is subject to complex laws and regulations regarding privacy and data protection, which may incur significant costs[109] Intellectual Property Protection - The company is actively engaged in protecting its intellectual property through various technologies and enforcement activities, including monitoring and litigation[109] - The ongoing challenge of piracy and the sophistication of infringing services continue to impact the company's ability to protect its intellectual property[110] - The company has had notable success with site-blocking efforts in various regions to combat piracy[109] - The company is involved in educational outreach to combat intellectual property infringement and enhance legal protections[110] Executive Leadership - The executive team includes Robert M. Bakish as President and CEO, Naveen Chopra as CFO, and other key positions filled by experienced professionals[111][112][113][114][115][116][117][118][119]

ViacomCBS Inc. (VIAC) UBS Global TMT Virtual Conference December 7, 2021 9:00 AM ET Company Participants Bob Bakish - CEO Conference Call Participants John Hodulik - UBS John Hodulik Good morning, everybody. I’m John Hodulik, Media and Telecom Analyst here at UBS. Welcome to day two of the UBS Global TMT Conference. Very pleased to announce that our morning keynote speaker today is Bob Bakish, the CEO of ViacomCBS. Bob, thanks for being here. Bob Bakish Hey, John. Thanks for having me. Great to be here. Que ...

Financial Data and Key Metrics Changes - Total company revenue grew 13% year-over-year to $6.6 billion, driven by growth across all revenue streams [7][34] - Adjusted OIBDA fell 3% to $1 billion due to increased programming and production spend [34] - Adjusted diluted EPS was $0.76, and adjusted free cash flow was a use of $187 million in the quarter [34][36] - Cash on hand at the end of the quarter was $4.8 billion, with total debt of $17.7 billion, resulting in a 2.5x net leverage ratio [35] Business Line Data and Key Metrics Changes - Streaming revenue grew 62% year-over-year, with subscription revenue increasing 79% to $548 million [30][31] - Pluto TV ended Q3 with 54.4 billion global monthly active users (MAUs), and its revenue grew 99% year-over-year [32] - Advertising revenue, excluding streaming, grew 1% to $1.9 billion, impacted by political spend and the sale of CNET [32][34] Market Data and Key Metrics Changes - Affiliate revenue grew 2% year-over-year to $2.1 billion, driven by distribution and contractual rate increases [33] - Licensing and other revenue increased 18% to $1.5 billion, reflecting a higher volume of licensing deliveries [34] Company Strategy and Development Direction - The company is focused on streaming as a key growth area, leveraging its content library and production capabilities [10][11] - Partnerships with T-Mobile and Sky are seen as strategic moves to enhance distribution and subscriber acquisition [49][61] - The company plans to change segment reporting to better reflect its focus on direct-to-consumer streaming services [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the streaming strategy, highlighting strong subscriber growth and engagement metrics [9][30] - The company anticipates continued strong total streaming revenue growth rates in Q4, expecting to surpass a $5 billion annual run-rate [36] - Management acknowledged challenges in the advertising market but expects growth in Q4 due to new programming [33] Other Important Information - The company is investing heavily in content, with streaming content expenses expected to double in 2021 compared to 2020 [37] - The upcoming content pipeline for Q4 includes significant new releases aimed at driving subscriber growth [27][36] Q&A Session Summary Question: Insights on the T-Mobile deal and its impact - Management confirmed that the T-Mobile deal targets their postpaid customer base and is expected to accelerate subscriber growth over time [45][52] - The deal is structured to have a lower ARPU but is expected to yield high lifetime value due to lower churn rates [54] Question: Timing and impact of the Sky partnership - The Sky partnership will launch in the UK in the first half of 2022, with additional markets to follow [61] Question: Composition of global streaming subscribers - A significant majority of new subscribers in Q3 came from Paramount+, with both premium and essential tiers contributing [64] Question: Evolving content strategy for Paramount - Management is focused on leveraging franchises and optimizing content windowing strategies to maximize engagement and subscriber growth [68] Question: Future of licensing revenue - Licensing revenue is evolving, with a focus on fulfilling legacy deals while shifting towards owned and operated streaming content [82]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 ViacomCBS Inc. (Exact name of registrant as specified in its charter) Delaware 04-2949533 (State or oth ...

Summary of ViacomCBS Inc. (VIAC) Conference Call Company Overview - **Company**: ViacomCBS Inc. (VIAC) - **Event**: Goldman Sachs 30th Annual Communacopia Conference - **Date**: September 22, 2021 - **Participants**: Bob Bakish (CEO), Brett Feldman (Goldman Sachs Analyst) Key Points Strategic Positioning and Performance - 2021 has been a remarkable year for ViacomCBS, marked by a significant capital raise and the launch of Paramount+ in the US and international markets [2][3] - The company has a strong content creation capability, a rapidly scaling streaming business, and a legacy business that supports streaming transformation [3][4] - ViacomCBS benefits from a strong capital position, enabling investment in streaming opportunities [4] Management Changes - Key management changes were announced, including Brian Robbins as President and CEO of Paramount Pictures and David Nevins overseeing Paramount Television Studios [5][6] - The organizational changes aim to align with the company's strategy and enhance execution, focusing on franchises and streaming [7][8] Film Strategy - ViacomCBS is testing various release strategies, including simultaneous streaming and theatrical releases, which have shown success with films like PAW Patrol [10][11] - The company plans to maintain a 45-day exclusive theatrical window for most films, balancing theatrical revenue and streaming growth [14] Paramount+ Performance - Paramount+ has seen strong engagement, with diverse content driving subscriber additions and managing churn [15][16] - The platform's success is attributed to a mix of films, scripted series, unscripted content, and sports [18][20] - In Q2, Paramount+ added 6.5 million streaming subscribers, exceeding the previous quarter's growth [20][21] Global Expansion Strategy - ViacomCBS aims to expand Paramount+ from 25 to 45 international markets by the end of 2022, leveraging partnerships with Comcast and Sky [30][31] - The company is focusing on global content utilization to drive scale and margins, with a strategy to produce local content for international markets [27][28] Advertising and Revenue Growth - The ad-supported streaming segment, including Pluto, has seen significant growth, with Pluto expected to generate over $1 billion in revenue [40][43] - Streaming advertising revenues are projected to exceed $2 billion, driven by strong demand and effective content pairing [43][44] Sports Strategy - Sports remain a critical component of ViacomCBS's strategy, with successful integration into both linear and streaming platforms [45][46] - The company is managing escalating sports broadcast rights by leveraging both linear and streaming rights to maximize value [47] Affiliate Revenue - Linear affiliate revenues grew 9% year-on-year in Q2, supported by recent carriage agreements [48][49] - The company expects continued growth in affiliate revenue, albeit at a slower pace due to lapping previous distribution benefits [50] Conclusion - ViacomCBS is positioned well for future growth, focusing on compelling content delivery and leveraging its distribution capabilities [52] Additional Insights - The company is committed to a differentiated product strategy for Paramount+, combining news, sports, and entertainment [21] - The leadership changes are expected to enhance the company's ability to execute its strategic vision [7][8]

Financial Data and Key Metrics Changes - The company expects streaming revenue to account for approximately 15% of total revenue this year, with significant growth anticipated for the following year [19] - Streaming content expenses are projected to exceed $5 billion by 2024, compared to about $1 billion in 2020, indicating a substantial increase in investment in this area [19][20] Business Line Data and Key Metrics Changes - Paramount+ has seen strong engagement in various content genres, particularly in kids programming and sports, which have driven subscriber acquisition [15][16] - The company is focusing on a broad content strategy for Paramount+, differentiating itself from competitors by including sports, news, unscripted content, and kids programming [14][15] Market Data and Key Metrics Changes - The company has reported a significant increase in viewership for NFL content on its streaming platforms, indicating strong performance in sports programming [15] - Pluto TV has surpassed $1 billion in revenue this year, a substantial increase from under $100 million just two to three years ago, showcasing its rapid growth [45] Company Strategy and Development Direction - The company is undergoing a strategic shift towards streaming, viewing it as a net addition to the business rather than a replacement for linear networks [23][25] - The company is actively pursuing global expansion of its streaming presence through various partnership models, including commercial deals and joint ventures [27][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the dynamic nature of the theatrical environment and is making case-by-case decisions regarding film releases to maximize asset value [12] - The company is optimistic about the future of streaming, believing it will offset declines in linear affiliate revenue and enhance overall financial performance [23][25] Other Important Information - The company is divesting non-core assets to fund streaming growth and return capital to shareholders, indicating a focus on strengthening its balance sheet [55] - The company has launched an ad-supported tier for Paramount+, which has performed well and is expected to narrow the ARPU gap between subscription tiers over time [41][42] Q&A Session All Questions and Answers Question: Rationale behind leadership changes at Paramount Studios - Management believes the new leadership will bring creative and strategic insights necessary to navigate industry changes and enhance content offerings [3][4] Question: Impact of shrinking theatrical windows on film value - Management asserts that movies remain a critical storytelling medium and that more distribution options today can enhance their value [7][8] Question: Content engagement on Paramount+ - Management highlights strong performance in kids content and sports, indicating a successful strategy to attract diverse audiences [15][16] Question: Future of D2C offerings - Management views streaming as a net addition to the business, with significant long-term upside in unit economics compared to linear networks [23][25] Question: Strategic rationale for recent deals with Sky/Comcast - Management explains that the deals are aimed at achieving rapid global expansion of streaming presence, tailored to the specific market dynamics [27][30] Question: Integration of Showtime and Paramount+ - Management confirms ongoing efforts to create a streaming ecosystem that leverages both services to maximize customer engagement and value [37][40] Question: Performance of the ad-supported tier - Management reports that the ad-supported tier has met expectations, with economics between tiers not differing as much as anticipated [41][42] Question: Future growth of Pluto TV - Management expresses strong confidence in Pluto TV's growth trajectory, aiming for 100 million to 120 million MAUs by the end of 2024 [45][47] Question: Capital allocation priorities - Management outlines a strategy focused on divesting non-core assets to fund streaming growth and return capital to shareholders [55]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 ViacomCBS Inc. (Exact name of registrant as specified in its charter) Delaware 04-2949533 (State or other ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 ViacomCBS Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incor ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2020 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-09553 ViacomCBS Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 ViacomCBS Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...