Paramount Global's Strategic Shifts Lead to Surprise Profit Amid Weak Ad Market
Originally Published 1 year ago — by Deadline
Paramount Global anticipates a $1 billion charge in the current quarter due to restructuring and content strategy changes, following the announcement of nearly 750 domestic job cuts. The company aims to optimize programming across streaming and linear TV and expects to achieve $200 million in annual cost savings. Despite reporting mixed fourth-quarter results, including revenue falling short of expectations, Paramount Global projects profitability in its domestic streaming business by 2025, addressing investor concerns about streaming losses.