Entertainment giant Paramount Global (PARA) has set-up a new multi-year deal with the beIN Media Group in Qatar, which should give the company’s content a new audience.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The deal gives Paramount better reach throughout Turkey, North Africa, and the Middle East. Right now, Paramount has about 4% share of the Middle East / North Africa (MENA) streaming market, thanks to a combination of premium sports and scripted programming.
Viewers in the region will now have access to a wide range of Paramount+ content, as well as Showtime, CBS Studios, and Republic Pictures content. This means titles from Yellowstone to Colin From Accounts will be available to watch.
More Star Trek
Elsewhere, viewers awaiting the return of Star Trek: Strange New Worlds got a sneak preview ahead of the third season’s 2025 release thanks to a clip shown at New York Comic-Con. Paramount appears to be doubling down on Star Trek going forward.
The second season of Star Trek: Starfleet Academy has already been greenlit despite the fact that the first season has not aired yet. Meanwhile, Strange New Worlds‘ fourth season has also been approved. Finally, a new series called Star Trek: Section 31 will air beginning in January 2025.
Is Paramount Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on PARA stock based on three Buys, six Holds and four Sells assigned in the past three months, as indicated by the graphic below. After a 6.5% loss in its share price over the past year, the average PARA price target of $12.67 per share implies 23.01% upside potential.
