ViacomCBS announced it will launch a new streaming service combining content from both sides of the freshly-merged company later this year
with only a handful of niche streaming services like Noggin and BET+.
The company will continue to license its content to other platforms. Viacom’s Nickelodeon struck a multi-year deal with Netflix before the merger went through, and content licensing makes up nearly a quarter of the company’s revenue. ViacomCBS stock fell 8% in pre-market trading after it reported a $258 million loss for the fourth quarter.CBS and Viacom merged in December 2019 after 13 years apart . The merger was the longstanding goal of now-Chairman Shari Redstone, daughter of former ChairmanCBS All Access and Showtime’s streaming app have a combined 10 million subscribers. While that’s a healthy 25% increase since early 2019, the services together do not yet match the might of rivals like Disney+ and Netflix .
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