|Legal Name:||Viacom Inc.|
|Headquarters Regions:||New York, New York, United States|
|Founded Date:||31 December 2005|
|Number of Employees:||12000+|
|Area served:||United States of America and world|
|Products of Company:||mass media conglomerate|
|Net Worth in 2023:||$15 billion|
Founded by Ralph Baruch, Viacom is a media conglomerate. Since its inception, it has been renamed multiple times like CBS Films and CBS Enterprises. It is currently known as ViacomCBS. It operates the CBS Entertainment Group and Paramount Films. Viacom is available in many countries across the world in different names. Some of its television networks include BET, Comedy Central, MTV, and Nickelodeon. It has its headquarters in Manhattan, New York, and has more than 22,000 employees.
Well, how well do you know about Viacom? If not much, we have compiled all you need to know about Viacom’s net worth in 2023, wiki and complete details. Well, if you’re all set, here is what we know about Viacom to date.
In 1952, Ralph Baruch founded CBS Television Film Sales. In 1958, it was renamed CBS Films and CBS Enterprises Inc. in 1968. Two years later, it became available as Viacom. It started to hold cable systems with a cable subscriber reach of 90,000. It was successful in acquiring WNHB-TV in 1978. In 180, it started radio stations in many locations including San Francisco, New York City, and Houston. Viacom also acquired KSLA in 1983 in Lousiana. That same year, it acquired The Movie Channe and formed The Movie Channel, Inc.
Viacom’s expansion continued to grow over the years, and it started acquiring many media houses. However, it was bought by National Amusements in 1986. A major transition happened in 1994 when it was successful in acquiring acquire Paramount Communications. It was later renamed as CBS Corporation in 1997. Two years later, CBS merges with King World and gets acquired by Viacom. It was also successful in buying BET Networks in 2001. With so many changes and acquisitions, Viacom witnessed growth as well as changes. In 2019, it became ViacomCBS.
The merger of CBS and Viacom happened after stiff competition from different companies including Amazon and Netflix. It was approved by the Federal Trade Commission, and it also got approval by National Amusements. It had its shares appear in NASDAQ as “VIACA” and “VIAC”. Following the merger of Viacom and CBS in 2019, Shari Redstone was named as the chairperson and holds 20% of voting rights. The remaining 80% voting power is held by National Amusements.
It has also come up with ViacomCBS International that is responsible for trademarks and copyrights. As of 2020, it has five major units, the CBS Entertainment Group, Domestic Media Networks, International Networks, Streaming Group, and Global Distribution Group. Viacom also owns Paramount Pictures, Bellator, Awesomeness, Simon & Schuster, and VidCon. Bob Bakish serves as the president and chief executive officer of Viacom.
Awards & Achievements
Viacom has won many awards in many countries across the world. As Viacom18, it won three awards at the 2019 BrandVid Awards in India. It has also won multiple awards at the PromaxBDA Awards. With a list of many TV channels, it has won ITA Award, Indian Telly Award, Nickelodeon Kids Choice Awards, and the Comedy Awards.
Net Worth & Earnings of Viacom in 2023
As of 2023, With many subsidiaries, Viacom has a net worth of an estimated $15 billion. This fortune comes from the distribution of program services. The revenue for the year 2020 stood at $25.29 billion, and the net income was $2.42 billion. It also has total assets worth $52.66 billion.
It is listed in many share markets across the world and has varying share values. The entertainment is known for coming up with premium content that has taken the audience to another level. It is available in many locations across the globe and has a number of portfolios including CBS, Paramount Pictures, Pluto TV, Nickelodeon, BET, and MTV.
Viacom has made people entertained in multiple ways. Throughout the years, it has come up with many shows and films under different banners. It has also seen many changes and is considered one of the best media networks. Viacom has also started streaming services, and people can expect to see a lot in the future.