In simple terms, Paramount Global reported a loss during the final quarter due to increased expenses related to content production and organizational changes, which outweighed the strong earnings from its movie and streaming businesses.
The proprietor of CBS, Comedy Central, and Paramount Pictures reported a rise in expenses related to reorganization and its impending acquisition by Skydance Media, along with an increase in operational costs. Simultaneously, the largest division (traditional TV) experienced a 4% drop in revenue due to decreases in ad sales and linear TV subscriptions. However, the Paramount+ streaming platform managed to gain 5.6 million new subscribers during this period, while film-related income skyrocketed thanks to the releases of “Gladiator II” and “Sonic the Hedgehog 3.
Despite facing challenges with its extensive TV lineup as viewers increasingly demand digital content delivery, the company is optimistic about enhancing its streaming services. In fact, Paramount+ has experienced significant growth, gaining 10 million new subscribers and recording a 33% rise in revenue. This progress boosts our belief that Paramount+ will reach profitability within the domestic market by 2025, as stated by the company’s CEOs George Cheeks, Chris McCarthy, and Brian Robbins.
The company said its deal with Skydance was on track to close in the first half of 2025.
I’ve been supporting the company as it navigates some challenges with its traditional TV business, which contributes significantly to our overall income. Despite this, we experienced a slight dip in revenue related to conventional media, amounting to approximately $4.98 billion – a decrease of about 4%. This decline was primarily due to a 4% drop in advertising sales and a more substantial 7% decrease in distribution revenue.
The earnings from filmed entertainment experienced a significant jump of 67%, reaching $1.08 billion, primarily due to successful new movie releases and an uptick in licensing agreements for library titles.
The income generated from streaming and direct-sales activities grew approximately 8%, reaching around $2.01 billion, largely due to a 7% growth in the number of subscriptions and a significant 9% rise in advertising revenue.
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2025-02-27 00:17