11 Nov Paramount Posts $49M Streaming Profit Amid Gain of 3.5M Subs, Film Unit Swings Back to Black [The Hollywood Reporter]
BY GEORG SZALAI, ETAN VLESSING
November 8, 2024 | Paramount Global reported its third-quarter financial results — including a swing to a streaming profit from a year-ago loss — on Friday in the Hollywood conglomerate’s second earnings report since its sale to Skydance Media was unveiled.
That marked the second quarter of streaming unit profitability in a row, though CFO Naveen Chopra during a morning analyst conference call forecast the timing of content and marketing expenditures would produce a loss for the streaming business during the current fourth quarter, even as domestic profitability for its Paramount+ streaming platform in 2025 was expected.
Paramount, currently controlled by National Amusements, led by Shari Redstone, said Paramount+ added 3.5 million subscribers compared with the second quarter in June to end September with around 72 million subscribers.
Read more on The Hollywood Reporter.