"Paramount Global's Path to Profit: Navigating Ad Decline and Streaming Losses"
TL;DR Summary
Paramount Global's Q4 earnings slightly surpassed Wall Street expectations, but a 6% decline in revenue was attributed to a 15% drop in linear TV advertising. The company projects its domestic streaming business to become profitable by 2025, with Paramount+ showing a 69% revenue increase and 67.5 million subscribers. Paramount Pictures struggled in the fourth quarter, with a 31% revenue decline primarily due to lower licensing revenue. Amid talks of potential acquisitions, Paramount's shares fell almost 2% and are down more than 20% in 2024, prompting CEO Bob Bakish to emphasize the company's focus on profitable growth and scaling streaming.
- Paramount Global Q4 Earnings Nip Wall Street Forecasts But Ad Decline Hits Revenue; Company Projects Domestic Streaming Profit By 2025 Deadline
- Paramount says streaming losses peaked in 2022 as linear ad revenue plunges Yahoo Finance
- Paramount falls short of revenue expectations but posts surprise profit, strong streaming results CNBC
- Paramount Global is ‘Leaning In’ to Content Cost Cuts and ‘Hollywood Hits’ as Leaders Chart a Course for Survival Variety
- Paramount, Citing Experiment During Strikes, to Cut Costs Per Title For Films, Series Hollywood Reporter
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