Paramount Posts Streaming Loss in Q4
**Paramount Posts Streaming Loss in Q4**
By Sahil Patel
a day ago
Source: The Information
Paramount Global's streaming business posted an adjusted loss of $286 million during the fourth quarter of 2024, after it had eked out a profit the prior two quarters. Revenue for this segment, which includes the Paramount+ and Pluto TV streaming services, grew 8% year over year to $2 billion.
Overall, Paramount's three co-chief executives, George Cheeks, Brian Robbins, and Chris McCarthy, said in a statement that they still expect Paramount+ to achieve a full year of domestic profitability in 2025. Paramount reduced adjusted annual losses in this segment by $1.2 billion in 2024 when compared to the previous year.
Paramount+ ended the year with 77.5 million subscribers, adding 5.6 million during the fourth quarter.
Paramount's traditional TV business, meanwhile, saw revenue drop 4% year over year to $5 billion, driven by declines in both advertising revenue and fees Paramount receives from cable TV companies to distribute its channels.
Paramount's sale to David Ellison and his studio Skydance Media is scheduled to close in the first half of this year, the company said.