ViacomCBS and Charter said they have a new multi-year distribution agreement that includes carriage of ViacomCBS’s broadcast stations and cable networks, as well as a license to sell the ViacomCBS streaming services to Charter’s Spectrum customers.
Financial terms of the deal were not disclosed. One of the reasons for merging Viacom with CBS was to give the company greater clout with distributor like Charter.
As media companies pivot to streaming, there has been concern that by moving the best content to direct-to-consumer services, like ViacomCBS’s Paramount Plus, cord-cutting will be encouraged, hurting cable companies. ViacomCBS has stated that it wants to continue to work with distributors.
“We are pleased to have reached a new deal to deliver ViacomCBS’ expansive portfolio of popular brands and premium programming for Spectrum audiences to enjoy, plus greater choice in how they consume our content,” said Ray Hopkins, president, U.S. Networks Distribution, ViacomCBS. “Charter is a valued partner, and we look forward to deepening our long-standing relationship.”
As part of the agreement, ViacomCBS and Charter also will expand their existing collaboration around addressable media and advanced advertising.
“These comprehensive agreements with ViacomCBS recognize the fast-changing pace of the subscription video business and provide us the flexibilities to adapt for the benefit of our customers while also furthering our strategic interests in the advanced advertising realm and aggregated video store concept with the addition of the streaming apps,” said Tom Montemagno, executive VP of programming acquisition for Charter.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.