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Paramount Global Adds 3.5 Million Streaming Subscribers in Q3 Bruised by TV, Movie Declines
Paramount Global added 3.5 million streaming subscribers in the third quarter, but those gains were offset by revenue declines in its TV, movie units
Paramount Global added 3.5 million new subscribers to broadband services like Paramount+ in its third quarter, but those gains failed to offset meaningful declines in its larger TV and film businesses. Despite a library of popular content, Paramount is saddled with an array of entertainment-focused cable networks such as MTV and TV Land that have seen their pull on the viewing public diminish over time. The company has in recent weeks worked to cut $500 million from its operations as it awaits a merger with Skydance Media, a production entity led by executive David Ellison.
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