#LeoStylo #Lz6
PARAMOUNT REPORTS Q3 2024 EARNINGS RESULTS
- Meaningful Progress Advancing Strategic Goals
- Significant Improvement in Direct-To-Consumer: Adjusted OIBDA Improved $287 Million
Year-Over-Year to $49 Million - Continued Momentum at Paramount+: Revenue Growth of 25% Year-Over-Year and
3.5 Million Subscriber Additions in the Quarter - Streamlined Organization: Advancing $500 Million in Annual Run Rate Cost Savings
- Skydance Transactions Expected to Close in First Half of 2025
STATEMENT FROM GEORGE CHEEKS, CHRIS MCCARTHY & BRIAN ROBBINS, CO-CEOS
“Our hit content drove strong performance in QO3 where Paramount+ added 3.5 million new
subscribers, solidifying our position as the #4 global SVOD service. Our DTC segment
successfully delivered profitability for the second quarter in a row, improving by more than $1
billion over the past four quarters, and, across the company, we continue to successfully
execute non-content cost reductions that will result in $500 million in annual run rate savings.
With two very strong quarters under our belt, it’s evident that we have clear momentum and
that our plan is working thanks to our very talented teams and creative partners.”
