Paramount’s Q1 disappointed Wall Street and paid the price with a 20 per cent stock drop. Ongoing losses in streaming added to soft advertising at its TV group last quarter and a dip in movies all contributed. Revenue was flat at $7.26 billion (€6.59), and the company swung to a loss of $1.1 billion for […]
Paramount has announced that its Showtime brand is set to be merged with Paramount+. In the US, the streaming and linear platforms will now be rebranded as ‘Paramount+ With Showtime’. Later this year the Showtime streaming service will cease operations. In a memo to staff, Paramount Global CEO Bob Bakish said: “With Showtime’s content integrated […]
Media and entertainment company Paramount Global has confirmed that Pamela Kaufman, President of Global Consumer Products and Experiences for Paramount, has been appointed President and CEO of International Markets, Global Consumer Products & Experiences, effective immediately. This newly-created position reports to Bob Bakish, President and CEO of Paramount, and reflects Paramount’s ongoing strategy of globalising […]
Media and entertainment company ViacomCBS is to become Paramount Global (referred to as Paramount), effective February 16th, bringing together its portfolio of premium entertainment properties under a new parent company name. “Paramount is an idea: A promise to be the best,” said Shari Redstone, Non-Executive Chair of the company’s Board of Directors. “That promise has […]
A good performance from its streaming services, Paramount+ and Pluto TV, has boosted otherwise lacklustre ViacomCBS quarterly results. Streaming income passed forecasts and were up 13 per cent to $6.61 billion (€5.7bn) for the quarter. The group added 4.3 million streaming subscribers for a total of nearly 47 million, a YoY increase of 79 per […]
Sumner Redstone, the US billionaire media tycoon, has died aged 97. For nearly 30 years, Redstone led Viacom as Executive Chairman of the Board following National Amusements’s acquisition of a controlling stake in the company in 1987. He also held the position of CEO from 1996 until 2005, during which time Viacom merged with CBS […]
ViacomCBS’s financial results for the quarter ended June 30th 2020 saw another “solid quarter”, according to Bob Bakish, President & CEO. He said that despite the impact of Covid-19 on revenue in the quarter, the broadcaster was successfully managing through the effects of the pandemic, reaffirming the strength of its combined operations. “Our results underscored […]