Paramount Global on Monday promoted Matt McMahon to serve as its Executive Vice President of Streaming.
McMahon previously held the title of Senior Vice President of Streaming Strategy and Operations, based in the San Francisco Bay Area. In his new role, McMahon will continue to lead the company’s global streaming strategy and operations for Paramount Plus with Showtime, Pluto TV and other streaming-based direct-to-consumer properties operated by Paramount.
“Thank you to Tom Ryan for your support and confidence in me for this new role,” McMahon wrote in a statement. “I’m incredibly proud of what our team — past and present — helped accomplish in 2024, driving growth and posting two quarters of profitability amidst changes across the streaming market. We have an exciting year ahead, and I’m looking forward to working alongside all of my world-class colleagues to drive growth, build momentum, and make 2025 another big year for Paramount Streaming!”
McMahon as worked in various roles at Paramount Global’s streaming unit and its predecessor, CBS Interactive, for more than a decade, joining the company as its Vice President of Strategy and Partnerships in 2013.
His promotion comes at a time when Paramount is orienting much of its business around streaming and direct-to-consumer entertainment products. In November, the company said it ended the third financial quarter (Q3) of 2024 with over 72 million streaming subscribers across its different products around the world, an increase of 3 million during the three-month period.
Streaming revenue grew to $1.86 billion during Q3, an increase of 10 percent, spurred by subscriber growth at Paramount Plus and a high amount of interest in connected TV advertising against Paramount Plus and the free, ad-supported platform Pluto TV. Advertising revenue from Paramount’s streaming properties jumped 18 percent to $507 million, while subscription revenue clocked in at $1.3 billion, or 7 percent higher.
Paramount is expected to report its Q4 and full-year streaming figures in early February.
