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Business Summary: Paramount Global is a media, streaming and entertainment company. The Company has three segments. TV Media segment consists of its broadcast operations: CBS Television Network, CBS Stations and its international free-to-air networks; domestic premium and basic cable networks, including Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, CBS Sports Network and international extensions of certain of these brands, and domestic and international television studio operations. Direct-to-Consumer segment includes its portfolio of domestic and international pay and free streaming services, including Paramount+, Pluto TV, BET+ and Noggin. Filmed Entertainment segment consists of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness and Miramax. Filmed Entertainment segment consists of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness and Miramax.
Financial Summary: BRIEF: For the three months ended 31 March 2024, Paramount Global revenues increased 6% to $7.69B. Net loss applicable to common stockholders excluding extraordinary items decreased 51% to $577M. Revenues reflect Direct to Consumer segment increase of 24% to $1.88B, TV Media segment increase of 1% to $5.23B. Lower net loss reflects Selling, general and administrative decrease of 5% to $1.66B (expense).