Under new Skydance Media’s ownership, Paramount reported total revenue of $6.7 billion for its third quarter.
Revenue for the Direct-to-Consumer unit, which includes Paramount+, increased 17 percent, compared to last year. Paramount expects total revenue of $30 billion for 2026, anticipating profitability growth.
However, TV media revenue, which includes CBS, declined 12 percent since last year, due to lower advertising revenue and TV affiliate fees.
Last Monday, Paramount raised its cost-cutting goal to $3 billion from an initial $2 billion, with additional 1,600 layoffs. The company has recently divested from both Televisión Federal in Argentina and Chilevision in Chile.
Please follow and like us:
Leave A Comment