Viacom's domestic ad sales fell 9% in 2Q 2015, a much larger fall than analysts had estimated. The company said it would also cut costs by about $900 million this year and eliminate another $100 million from its capital spending plans. One of these new products, Viacom Vantage, is already being used by 10 of the largest advertisers and so far it appears to be generating "significant incremental advertising revenue."
Viacom's domestic ad sales fell 9% in 2Q 2015, a much larger fall than analysts had estimated. Viacom's CEO, Philippe Dauman, remained optimistic about the company's ability to drive ad revenue, discussing the company's next-generation advertising capabilities and products. One of these new products, Viacom Vantage, is already being used by 10 of the largest advertisers and so far it appears to be generating "significant incremental advertising revenue."