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Paramount Global

“Cost Synergies” in Focus for Paramount as Fate of Stand-Alone Showtime App Is to Be Determined

Paramount Global won’t yet reveal the fate of its Showtime streaming app, but on Tuesday CEO Bob Bakish spoke to the company’s increasing focus on “unlocking cost synergies” between Showtime and Paramount.  “We’re doing a set of work around Showtime, both on the network side and the streaming side, which is really about consolidation economics […]

Paramount CEO on Streaming Profitability Push: “It Takes a Little While”

Paramount Global CEO Bob Bakish says his studio is increasingly focused on its fast-expanding streaming model to compete against market leaders Netflix and Disney, but has yet to declare when Paramount+ and Pluto TV will be as profitable as CBS once was on its own as a cable TV juggernaut.   “We’ve always built this […]

Can Pluto TV’s Expansion Be Powered by Library Content Alone? A Chat With International Chief Olivier Jollet

Paramount’s free, ad-supported service Pluto TV has landed in Canada with its biggest content offering ever at launch outside of the U.S. market. But Olivier Jollet, executive vp and international general manager for Pluto TV, tells The Hollywood Reporter the latest local market launch for the FAST channel is part of an ambitious global rollout. […]

Bob Bakish’s Paramount Mandate: Global Mindset, “Local Execution”

Paramount wants to increasingly approach its networks, streamers and other assets with a truly global mindset. The conglomerate is working to structure reporting lines within the organization with that in mind — rather than relying on traditional regional clusters — and executives are now sharing additional details of that strategy. For example, “piloting” content from international businesses […]

VH1 Moved to Scott Mills’ BET Media Group in Latest Paramount Shake-Up

BET president and CEO Scott Mills is adding to his portfolio at Paramount Global. In the latest piece of reorganization at the conglomerate, VH1 will move under Mills’ BET Media Group. The cable outlet was previously part of the Chris McCarthy-led Paramount Media Networks, along with Paramount Network, MTV, Comedy Central, CMT and others. Paramount […]

SkyShowtime Sets Dec. 14 Launch for 7 Central and Eastern European Markets

SkyShowtime, the European streaming joint venture formed by Sky parent Comcast and Showtime owner Paramount Global, has set Dec. 14 as the launch date for its first Central and Eastern European markets.   SkyShowtime CEO Monty Sarhan revealed the news during an on-stage appearance at the brand’s official launch event in Amsterdam, Netherlands on Thursday evening. […]

Les Moonves and Paramount to Pay $9.75M to CBS Shareholders in Deal With N.Y. Attorney General Over Sexual Misconduct Claims

Paramount Global will pay an additional $7.25 million to shareholders to resolve the New York Attorney General’s probe into sexual misconduct allegations involving former CBS chief Leslie Moonves, and Moonves himself will pay $2.5 million. The settlement also discloses a larger conspiracy surrounding the allegations, with a Los Angeles Police Department captain tipping off Moonves […]

How Pluto TV Is Gaining Market Share (Without Ordering Original Shows or Movies)

In September, Paramount’s Pluto TV became the first free, ad-supported platform to crack the Nielsen Gauge, the ratings provider’s monthly, all-platform snapshot of TV use. The platform reached 1 percent of all TV viewership in the U.S. for the month, coming in just below HBO Max and ranking among other paid streaming services. The milestone […]

Paramount+ Coming to Virgin Media in U.K. Under Multi-Year Carriage Deal

Paramount Global and British cable giant Virgin Media on Wednesday unveiled a new multi-year distribution agreement, extending their existing partnership across Paramount’s streaming services and linear channels in the U.K.  “The renewed partnership will see Paramount+, the global subscription video-on-demand (SVOD) service, debut on Virgin TV in 2023.” Paramount+ original series include the likes of […]

Paramount Hits Nearly 67M Global Streaming Subs as Paramount+ Grows to 46M

Paramount Global reached nearly 67 million streaming subscribers worldwide as of the end of September, up from 63.7 million as of the end of June. But streaming investments and cord-cutting dragged on the bottom line, with several financial results falling below analysts’ expectations. Paramount’s stock was down nearly 9 percent in Wednesday pre-market trading as of […]

Paramount Stock Downgraded by Wells Fargo, Again, as Analyst Outlines Streaming Strategy, Deal Options

Wells Fargo analyst Steven Cahall had a Halloween surprise for investors, downgrading his rating on Paramount Global shares to “underweight” and cutting his stock price target from $19 to $13. And that even though he had just in early October downgraded the stock from “overweight” to “equal weight” and slashed his price target from $40. […]

David Nevins Realizes Exit Will Cast Doubt on Showtime Viability: “Give It a Chance”

For David Nevins, the choice to step down from his role as CEO of Paramount Global’s premium group and Paramount+ scripted series was a long time coming. The executive, who replaced Bob Greenblatt as president of Showtime 12 years ago, has seen his role grow and evolve in a tenure that started first at CBS […]