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Sep 30, 2024
Paramount Q3 2024 Earnings Report
Paramount's Q3 2024 earnings reflect meaningful progress in advancing strategic goals, with significant improvement in direct-to-consumer profitability and continued momentum at Paramount+.
Key Takeaways
Paramount reported Q3 2024 earnings with a focus on direct-to-consumer improvements and Paramount+ subscriber growth. The DTC segment achieved profitability for the second consecutive quarter, and the company is on track to realize $500 million in annual run rate cost savings. Paramount+ added 3.5 million subscribers, reaching a total of 72 million.
Adjusted OIBDA improved $287 million year-over-year to $49 million in the direct-to-consumer segment.
Paramount+ saw revenue growth of 25% year-over-year and added 3.5 million subscribers in the quarter.
The company is advancing $500 million in annual run rate cost savings through a streamlined organization.
Skydance transactions are expected to close in the first half of 2025.
Revenue by Segment
Forward Guidance
The company anticipates the Skydance transactions to close in the first half of 2025, subject to regulatory approvals and customary closing conditions. Until then, Paramount continues to operate in the normal course of business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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