Posted 2/28/2024, 9:02:00 PM
Paramount Beats Expectations But Struggles With Linear TV Drop, Eyes Streaming Profitability By 2025
- Revenue was $7.6B, beating expectations, but down 6% due to 15% decline in linear TV ads
- Forecasting domestic streaming business to turn a profit by 2025
- Paramount+ subscriber levels grew to 67.5M, up 4.1M from last quarter
- Paramount Pictures struggled with 31% drop in revenue to $647M
- CEO focused on "maximizing return on content investments and scaling streaming" while "transforming cost base"