Paramount Global ( (PARA) ) has released its Q4 earnings. Here is a breakdown of the information Paramount Global presented to its investors.
Paramount Global is a leading media, streaming, and entertainment company known for its extensive portfolio of iconic consumer brands, including CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, and Pluto TV. The company operates in the global media and entertainment industry, offering premium content and experiences worldwide.
In its latest earnings report, Paramount Global announced a 5% increase in total company revenue for the fourth quarter of 2024, driven by strong performance in its streaming services. Paramount+ saw a significant revenue boost of 16% for the quarter and 33% for the full year, reaching 77.5 million subscribers. The company also reported improvements in its balance sheet, with net operating cash flow of $752 million and free cash flow of $489 million for the year.
Key financial highlights include a 67% increase in filmed entertainment revenue, attributed to successful theatrical releases such as Sonic the Hedgehog 3 and Gladiator II. However, the company faced challenges in its TV media segment, which saw a 4% decline in revenue due to a decrease in linear advertising and fewer sporting events. Despite these challenges, Paramount+ achieved record engagement levels, ranking as the #2 domestic SVOD service for hours watched across all original series.
The company’s strategic focus on streaming has led to a transformative year, with Paramount+ adding 10 million new subscribers in 2024 and delivering a 33% increase in revenue. The management expressed confidence in achieving full-year domestic profitability for Paramount+ in 2025, supported by a robust content slate and continued subscriber growth.
Looking ahead, Paramount Global aims to maintain its momentum in the streaming sector while addressing challenges in traditional TV media. The company is optimistic about returning to earnings growth in 2024, leveraging its multiplatform strategy and strong content offerings to drive future success.