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ViacomCBS (VIAC) to Premiere CMT Awards on CBS in Early 2022

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ViacomCBS (VIAC - Free Report) recently announced that the company’s fan-voted award show, Country Music Tentpole (CMT) Awards, will premiere on CBS beginning in 2022. This event will be broadcasted live from Nashville on CBS.

Also, for the event in 2022, CMT will commence Country Music Week by hosting programming and events including director’s cut broadcasting of the CMT Music Awards afterwards on CMT and other ViacomCBS platforms.

Markedly, the 2021 CMT Music Awards show saw an increase of 10% in total viewers and was the #1 most social program on television for the night. It was hosted by Kelsea Ballerini and Kane Brown with performances including Chris Stapleton, Gladys Knight, Carrie Underwood and others.

Streaming Service Portfolio to Aid Growth

ViacomCBS has a solid portfolio of streaming services such as Paramount+, Pluto TV, BET+, CBSN, CBS Sports HQ among others. Notably, the company continues to build upon the same.

CBS is America’s Most Watched Network and airs big events such as The Grammy Awards, The Tony Awards, and Oprah with Meghan and Harry: A CBS Prime Time Special.

In May, ViacomCBS announced a new line up of CBS originals and a new schedule featuring CSI: Vegas, FBI: International and NCIS: Hawai‘i. The schedule includes new drama Good Sam, comedies such as Young Sheldon, Smallwood and two new CBS original movies — A Christmas Proposal and Christmas Takes Flight. The schedule also features a new global citizen series The Activist and competition series Come Dance with Me.

Also, CBS Sports announced an agreement to acquire exclusive rights to Asian Football Confederation (AFC). Per agreement, Paramount+ will provide exclusive coverage of AFC’s competitions including the AFC Asian Qualifiers- Road to Qatar Final Round, AFC Champions League and others.

Moreover, CBS Sports announced an agreement through which it gets exclusive U.S. rights to the Serie A Championship, Coppa Italia and Supercoppa Italiana Matches. The coverage will be telecast on Paramount+ starting in August and run through 2024.

Also, in March, ViacomCBS announced a new agreement per which CBS Sports will continue as a home to the National Football League’s (NFL) American Football Conference (AFC). It will also allow CBS Sports to broadcast Sunday afternoon games including an expanded schedule of games.

However, this Zacks #4 Rank (Sell) company faces stiff competition from the likes of Netflix (NFLX - Free Report) and Walt Disney’s (DIS - Free Report) Disney+ in the streaming space.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Netflix has a solid and diversified content portfolio and is also strongly building on it with original content. One of the most awaited shows, Money Heist Season 5, will release on Netflix this year, which is expected to boost subscribers for the company. Disney+ offers nearly 700 movies and 11,700 episodes of television shows. Disney+ upcoming releases include Black Widow, Jungle Cruise and others.
Nonetheless, ViacomCBS’ expanding content portfolio is expected to help it counter the competition. Markedly, ViacomCBS global streaming subscribers grew to 36 million, and streaming revenues increased 65% year over year in the fiscal first quarter of 2021.

Moreover, in April, ViacomCBS Networks International (VCNI), a unit of ViacomCBS announced the acquisition of Chilevision from Warner Media, which is a division of AT&T (T - Free Report) .

This buyout will support ViacomCBS’ global streaming strategy through increased consumer reach by marking its expansion in Latin America, advanced production capabilities and a new content library with Spanish language content.

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AT&T Inc. (T) - free report >>

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ViacomCBS Inc. (VIAC) - free report >>