Viacom expects content production unit to become a USD 1-billion business by 2022

During a conference with analysts to discuss the Q218 results, Viacom CEO Bob Bakish shared details about the new studio production initiative for SVOD and third-party platforms.
Viacom recently decided to create production units of MTV, Nickelodeon and Viacom International Media Networks and, according to Bakish, “Comedy Central and BET will be launching shortly”. “This isn’t about the wholesale licensing of our library product to SVOD players. This is about new first run content for SVOD platforms and other third parties”, he said.
The executive said, “Paramount TV’s rapid revenue growth is clear evidence of the insatiable demand for premium episodic video content”. In this context, the company has set its sight on “building a studio production into USD 1 billion business by 2020”.
In June, Viacom announced the launch of MTV Studios, a new unit that will develop new series for partners across SVOD and linear, with a focus on beloved shows, franchises and spin-offs that span MTV’s 35-year history. In turn, Nickelodeon is licensing the animated series “Pinky Malinky” to Netflix in a multi-year deal for 59 new episodes.
In May, Viacom International Studios (VIS) united the extensive production capabilities of wholly Viacom-owned Argentinian broadcaster Telefe and majority-owned Brazilian comedy brand Porta dos Fundos with Viacom’s Latin American brands and production capabilities. “This creates a multi-lingual machine that accelerates our positioning as a leading global content creator and distributor of Spanish and Portuguese language content in U.S., Latin America and beyond”, the executive commented. “Here we have already entered into deals with Netflix, Amazon, Telemundo and Fox among others, with a long list of prospects at various stages of development in the pipeline,” he concluded.