The all-in Paramount+ effort is an uphill climb, but some finance insiders are becoming less skeptical of the media giant as a buyer rather than acquisition target.
“Historically, we have been bears and saw streaming as a show-me story,” Cahall admitted. “They’ve shown us!” By the end of 2022, he forecasts 70 million subscription VOD subscribers and 147 million subscription VOD and advertising VOD subscribers with around $8 billion in streaming revenue. “This is a stronger start than we expected and already makes the recent long-term guidance appear beatable,” Cahall concluded.
Others see ViacomCBS as an attractive takeover target. Cahall wrote that it is “quite possibly the new belle at the ball” that is media M&A. Citing the planned Amazon deal for MGM, reports that Apple looked at Hello Sunshine before it sold to the company of former Disney executives Kevin Mayer and Tom Staggs, and the fact that Discovery struck its big deal for WarnerMedia “and says it won’t be done there,” the analyst argued: “Media consolidation is happening with a focus on aggregation.
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