Posted 2/29/2024, 12:10:00 AM
Paramount+ Pursues Profitability Through $1B Write-Down, Content Cost Cuts Focused on Global Hits
- Paramount Global leaders promise $1B write-down, cost cuts, and profitability for streaming service Paramount+ by 2025
- Company will spend less on content overall and shift focus to "Hollywood hits" with global appeal rather than local productions
- More content will be produced internationally at lower costs
- Sports remains an important subscriber acquisition tool for Paramount+
- Company still sees itself as a standalone entity, dismissing M&A speculation