Paramount grabs 67.5 million streaming subscribers
The company expects its Paramount Plus service to be fully profitable by next year, even though some customers may drop off throughout 2024.
Paramount Global ($PARA) is a multinational broadcast, cable and streaming television corporation based in New York City. It is the successor to the CBS Corporation and Viacom, Inc. Paramount Global operates the CBS broadcast network, CBS Sports, MTV Networks, Paramount Pictures, Pluto TV, Paramount Plus, Showtime, Australia’s Network 10, Channel 5 UK and around two dozen local CBS broadcast stations in major American markets. Prior to February 2022, Paramount Global was known as ViacomCBS.
The company expects its Paramount Plus service to be fully profitable by next year, even though some customers may drop off throughout 2024.
The CW broadcast network earned just $250 million in revenue during Nexstar’s first full calendar year as majority owner.
Skydance Media is still pursuing a merger opportunity with Paramount Global, the report said.
Disney could emerge as an early victor as a new front develops in the so-called “streaming wars:” A rush to license content to peer services.
Comcast and Paramount’s joint venture Sky Showtime has announced plans for a lower-priced, ad-supported plan.
The discussions have centered around a streaming-focused partnership or joint venture, similar to its Paramount and Comcast’s Sky Showtime operation overseas.
The kid-friendly app offered more than 1,000 interactive videos and games; some videos will shift to Paramount Plus.
Several Fox News shows saw higher ratings compared to Jon Stewart’s return to “The Daily Show” on Comedy Central.
Layoffs at Paramount Global has impacted around a half-dozen employees at an independent television station in Seattle.
Paramount has eliminated around 20 jobs at its CBS News division, the New York Post reported on Tuesday.