Paramount sees streaming gains as company continues to pursue Warner Bros. Discovery

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Paramount Skydance is betting its future on its streaming business, as gains at the media and entertainment company’s Paramount+ platform helped boost earnings for the fiscal fourth quarter of last year.On Wednesday, Paramount reported $8.1 billion in revenue for the three-month period that ended Dec.

31, up 2% compared to the previous year’s quarter.That was because of growth in its streaming business, which saw a 10% increase in quarterly revenue to $2.2 billion, as well as gains at Paramount’s filmed entertainment segment, which reported revenue of $1.3 billion, an increase of 16% compared to the previous year.The company’s TV media business, however, had a tougher quarter.That segment reported revenue of $4.7 billion, down 5% compared to the previous year, as traditional broadcast networks continue tolose subscribers.

Paramount also cited a 10% decrease in advertising, partially because of a drop in political spending and not having the Big Ten football championship as it did in 2024.Hollywood Inc.

Over the weekend, President Trump threatened Netflix, telling the streamer to fire Susan Rice from its board or “pay the consequences.”Paramount reported an operating loss of $339 million, which included $546 million in restructuring and transaction-related costs attributed to its merger with Skydance last year.Diluted losses per share totaled 52 cents, compared to a loss of 33 cents during the prior year.Chief Executive David Ellison praised the company’s progress under his tenure, noting that investments in the film studio, original series and the Ultimate Fighting Championship and tech upgrades to Paramount+’s streaming platform and advertising would build momentum in the coming years.“It’s been six months, but we really do feel good about the work the team has done to date,” he said during an earnings call with analysts Wednesday afternoon.

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