Paramount's Streaming Success Overshadowed by TV and Film Challenges
Paramount Global reported a $49 million profit in its streaming unit for the third quarter, marking its second consecutive profitable quarter, driven by a 3.5 million increase in Paramount+ subscribers. Despite this, the company anticipates a loss in the fourth quarter due to content and marketing expenditures. Paramount's Filmed Entertainment unit also returned to profitability, aided by reduced expenses. Overall, Paramount's total revenue declined by 6% to $6.73 billion, with a focus on cost-saving measures to achieve sustained streaming profitability by 2025.