Paramount Global Company Summary

Overview

Paramount Global is a major media and entertainment company engaged in content creation, distribution, and broadcasting across multiple platforms. Despite being a “controlled company” with more than 50% voting power held by an individual or another entity, it maintains a corporate governance structure with a majority of independent directors and fully independent committees.

Business Segments & Content Operations

• Media Networks (TV and Broadcasting)

  • Operates popular broadcast networks including CBS, which has been the top-rated broadcast network in primetime for 16 consecutive seasons.
  • Notable series include "NCIS" and "Matlock."
  • Owns and operates content such as "Yellowstone" on Paramount Network, the most-watched entertainment series on cable, and popular shows like "The Daily Show."
  • Achieved significant viewership growth across linear and streaming platforms, with about 60% growth in streaming minutes watched on CBS News.
  • In the 2023-2024 season, CBS featured seven of the top 10 broadcast series.

• Content Production and Film Studios

  • Paramount Pictures is a key studio, with blockbuster films like "Sonic the Hedgehog 3" (top grossing franchise film), "Smile 2," and "Gladiator II" (grossed over $460 million globally).
  • Achieved number one domestic box office positions at various times during the year.
  • Focus on franchise development and leveraging intellectual property for theatrical, streaming, and consumer products.
  • Paramount's studio slate contributed to linear and streaming viewership and revenue streams.

• Streaming Services (Direct-to-Consumer, DTC)

  • Paramount+ is a leading global streaming platform, with 77.5 million subscribers as of year-end.
  • Revenue from Paramount+ grew by 33%, with profitability achieved in Q1 of 2024.
  • Pluto TV leads in FAST (Free Ad-supported Streaming TV) globally, with 8% growth in hours watched.
  • DTC contributed to a $1.2 billion increase in profitability for Paramount+, with total DTC revenue at $7.8 billion.
  • DTC profitability and growth strategy are central, with efforts to accelerate streaming profitability while managing costs.

Financial Highlights (2024)

• Revenue: Approximately $33.2 billion (based on the sum indicators from streaming revenue and box office results).
• Operating Income (Adjusted OIBDA): $3.18 billion (adjusted).
• Free Cash Flow: $560 million.
• Net Operating Cash Flow: $752 million.
• Cost Savings: Achieved $500 million in annual operational cost savings.
• Content & Production Investments: Continued strategic investments in high-quality content and franchise growth.

Employees and Customer Base

• The company has approximately 22,300 employees.
• The number of streaming subscribers across Paramount+ and related platforms totals 77.5 million as of the end of 2024.
• The company also engages in licensing content through relationships like National Amusements, which paid Paramount around $7.2 million in licensing fees during 2024.

Corporate and Governance

• Committed to high standards of governance, including independent committees, a global business conduct policy, and ethics training.
• Maintains a strong governance framework and policies to prevent conflicts of interest, insider trading, and related risks.
• Shares are owned by various significant shareholders, including National Amusements, which holds a controlling interest.

Note: This summary only includes explicitly provided factual data. No hypothetical or interpretative statements are included.