Paramount Global has reported total company revenue decreased 6 per cent to $7.19 billion (€6.39bn) in Q1 2025, which included an 8 percentage point impact from CBS’s broadcast of Super Bowl LVIII in the year ago period. Excluding the Super Bowl comparison, Q1 revenue grew 2 per cent.

DTC revenue – bolstered by hit originals, post-theatrical releases, CBS primetime and sports – increased 9 per cent year-over-year. DTC subscription revenue grew 16 per cent, driven by subscriber growth for Paramount+. DTC advertising revenue decreased 9 per cent, principally reflecting an 8 per cent impact from the comparison against Super Bowl LVIII in the first quarter of 2024.

Total company advertising revenue decreased 19 per cent, reflecting a 19 percentage point impact from CBS’s broadcast of Super Bowl LVIII in the year ago period. Excluding the comparison, Q1 advertising revenue was unchanged.

Paramount+ once again ranked as a top three SVoD service in Original Series hours watched domestically, marking another record-breaking quarter in viewership and engagement for the platform. Paramount+ revenue grew 16 per cent, driven by year-over-year subscriber growth and improvements in churn. Subscribers increased 1.5 million in the quarter to 79 million.

Landman remained the #1 new streaming original series for the second straight quarter and joined 1923 as two of the top ten streaming originals in Q1. MobLand (pictured) was the biggest global series premiere ever on Paramount+, and Yellowjackets’ premiere broke records in the quarter as the most streamed episode in the series’ history. Internationally, Yellowstone continues to be the #1 engagement and start driver.

AVoD platform Pluto TV delivered its highest consumption by total hours both domestically and globally and reaches more countries than any other FAST service. Global viewing hours increased 31 per cent year-over-year across Paramount+ and Pluto TV.

TV Media revenue decreased 13 per cent to $4.5 billion, including a 10 per cent impact from the comparison against CBS’s broadcast of Super Bowl LVIII in Q1 2024. CBS is poised to be the most-watched network in US primetime for the 17th consecutive season, the longest winning streak on record. Including sports, CBS shows claimed 15 of the top 25 programmes, such as Tracker and Matlock. Sports programming continued to attract audiences, most notably the AFC Championship Game on January 26th that averaged 57.4 million viewers, setting the all-time record for the AFC and the largest overall conference championship in 15 years. On cable, episodes of The Daily Show with host Jon Stewart averaged 1.3 million viewers per episode.

Paramount Pictures delivered another quarter of revenue growth and improved profitability – 4 per cent to $627 million – with the continued success of Sonic the Hedgehog 3 and the #1 domestic debut of Novocaine at the box office. Gladiator II and Sonic the Hedgehog 3 were strong in home entertainment and streaming, driving acquisition on Paramount+ and ranking among the top-5 most-viewed movies in the platform’s history, with the former earning the distinction as the most-viewed film ever on Paramount+.

In a joint statement, Paramount Global co-CEOs George Cheeks, Brian Robbins and Chris McCarthy said: “We are very pleased with our performance in the quarter driven by a powerful content slate and focused execution. Paramount+ again had the second most Top 10 SVoD Originals, and CBS is poised to be the most-watched network for the 17th consecutive season. We are particularly proud of our progress in DTC where Paramount+ saw continued improvement in subscribers, user watch time and churn and remains on track to reach domestic profitability for 2025. Taken together, this contributed to a nearly $180 million improvement in DTC profitability. These impressive results were driven by our talented teams and creative partners, and we are grateful for their contributions”.

Responding to the results, Dan Larkman, CEO and founder at Keynes Digital, commented: “Paramount delivered solid results, with international momentum balancing domestic recalibration. In the UK, Paramount+ continues to impress with the highest consumer approval ratings and saturation-level marketing that’s clearly driving adoption. The company’s decision to strategically pull back content in some regions while doubling down abroad is keeping churn low and brand loyalty high. If they can now scale their global advertising business with the same precision, they’ll be well positioned in a competitive streaming landscape.”

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Categories: Articles, Business, Results

Tags: CBS, landman, Mobland, paramount, Sonic The Hedgehog