Paramount Global
NASDAQ:PARA
Paramount Global
Paramount Global, a formidable entity in the entertainment and media industry, is the result of a strategic evolution from its historical roots. Initially known as ViacomCBS, the company rebranded to Paramount Global in 2022, embracing its storied cinematic legacy while propelling into the evolving media landscape of streaming and digital content. With its headquarters in New York City, Paramount Global operates across various dimensions of entertainment, including cable networks, film production, and direct-to-consumer streaming services. The company leverages its extensive portfolio of iconic brands such as CBS, MTV, and Nickelodeon, alongside Paramount Pictures, to captivate audiences across the globe.
Driven by both traditional and digital revenue streams, Paramount Global undertakes a strategic blend of operation to sustain its market presence. Broadcasting remains a significant pillar, with advertising sales and affiliate fees from its networks contributing substantially to its revenue. At the same time, the company's strategic thrust into the streaming domain, primarily through its platforms Paramount+ and Pluto TV, positions it to tap into the rapidly shifting viewer preferences towards on-demand content. This digital expansion is complemented by content licensing and distribution deals worldwide. Underpinning these operations is a focus on synergy, aiming to leverage its comprehensive ecosystem of content creation and distribution to generate profitable growth and reinforce its status as a media powerhouse on both traditional and digital fronts.
Paramount Global, a formidable entity in the entertainment and media industry, is the result of a strategic evolution from its historical roots. Initially known as ViacomCBS, the company rebranded to Paramount Global in 2022, embracing its storied cinematic legacy while propelling into the evolving media landscape of streaming and digital content. With its headquarters in New York City, Paramount Global operates across various dimensions of entertainment, including cable networks, film production, and direct-to-consumer streaming services. The company leverages its extensive portfolio of iconic brands such as CBS, MTV, and Nickelodeon, alongside Paramount Pictures, to captivate audiences across the globe.
Driven by both traditional and digital revenue streams, Paramount Global undertakes a strategic blend of operation to sustain its market presence. Broadcasting remains a significant pillar, with advertising sales and affiliate fees from its networks contributing substantially to its revenue. At the same time, the company's strategic thrust into the streaming domain, primarily through its platforms Paramount+ and Pluto TV, positions it to tap into the rapidly shifting viewer preferences towards on-demand content. This digital expansion is complemented by content licensing and distribution deals worldwide. Underpinning these operations is a focus on synergy, aiming to leverage its comprehensive ecosystem of content creation and distribution to generate profitable growth and reinforce its status as a media powerhouse on both traditional and digital fronts.
Final Standalone Call: This was Paramount Global’s last earnings call under its current structure, as the Skydance transaction is expected to close August 7, 2025.
Revenue Growth: Paramount reported total company revenue of $6.8 billion for Q2, up 1% year-over-year.
Streaming Strength: Direct-to-consumer (D2C) revenue grew 15%, with Paramount+ revenue up 23% year-over-year and subscription revenue up 22%.
Profitability Improvements: Adjusted OIBDA for D2C was $157 million, a sixfold improvement from last year. Total company adjusted OIBDA was $824 million.
Subscriber Trends: Paramount+ ended the quarter with 77.7 million subscribers, up 9.3 million year-over-year but down 1.3 million quarter-over-quarter due to an expiring distribution deal.
Cost Reductions: The company achieved over $800 million in annual run-rate non-content expense savings over the past four quarters.
Traditional TV Declines: Linear TV media revenue fell, with TV advertising down 4% and affiliate revenue down 7% year-over-year, but total affiliate and subscription revenue grew 5%.
No Guidance Given: Due to the impending transaction, management did not provide full-year 2025 guidance.
