NCAA Tournament Cancellation Hurts Revenue at ViacomCBS 

Streaming business grows as coronavirus forced consumers to stay home

ViacomCBS said its streaming platforms had their best month in April.

PHOTO: KATE MUNSCH/REUTERS

Since the merge of viacom and cbs that began this year revenue has dropped for its first quater because of the decrease in ad sales. Although, the company's revenue generated was an estimated $6.67 billion which was a higher prediction from the Wall Street but was also 6% less than the year earlier. The main purpose revenue has decrease by 19% in advertising sales is because the cancelation of events such as the NCAA BASKETBALL tournament  due to the coronavirus pandemic. However, digital-video revenue rose by nearly half with people working from home. I believe many televised companies are facing CHALLENGES but also are getting an opportunity to take advangtage of people working from home.

https://www.wsj.com/articles/viacomcbs-revenue-falls-as-ncaa-tournament-cancellation-hurt-ad-revenue-11588852358