Posted 2/28/2024, 11:46:59 PM
Paramount Sees Ad Market Stabilizing Despite Ongoing Linear TV Declines
- Ad market remains challenging for Paramount in 2023, with linear ad revenue down 15% year-over-year in Q4
- Sees signs of stabilization, including healthy scatter market premiums and low-to-mid teens ad growth expected in Q1
- Bright spots driven by sports, plus some domestic growth in consumer products, restaurants, and retail ads
- International ad market still challenged, with currency headwinds
- Shift to streaming continues, with Paramount+ expected to reach domestic profitability in 2025 amid ongoing linear TV declines