ViacomCBS Rebrands as Paramount; Ends 2021 With Strong Streaming Growth

ViacomCBS, which will rebrand itself as Paramount, posted a mixed end to a tumultuous 2021. Paramount+ and Pluto posted strong growth, with 7.3 million net subscriber additions and a 10 million increase in monthly active users, respectively, as the firm finally broke out its streaming metrics. They also updated its long-term streaming subscriber guidance for 2024 to 100 million, up from 65 million to 75 million. To hit this number, management plans a sharp increase in content investment, mirroring plans at rivals Disney, NBC Universal, and Warner.