{"id":52334,"date":"2025-08-01T10:52:10","date_gmt":"2025-08-01T10:52:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/52334\/"},"modified":"2025-08-01T10:52:10","modified_gmt":"2025-08-01T10:52:10","slug":"paramount-sees-q2-bump-from-mission-impossible-in-last-quarter-under-a-redstone","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/52334\/","title":{"rendered":"Paramount Sees Q2 Bump From \u2018Mission Impossible’ In Last Quarter Under A Redstone"},"content":{"rendered":"

\n\tParamount<\/a> Global reported its last set of financials under Redstone family ownership with a massive jump in theatrical revenue (up 84%) from Mission: Impossible \u2013 The Final Reckoning last quarter. Released May 23, it\u2019s grossed nearly $600 million worldwide.<\/p>\n

\n\tCrime drama MobLand<\/a> on Paramount+<\/a> and CBS<\/a> Sports were other bright spots in the three months that beat forecasts on some but not all metrics. In a shoutout to Jon Stewart amid angst among the late-night crowd, the company noted that The Daily Show \u201cranked as the #1 Late Night program on Mondays across all TV.\u201d<\/p>\n

\n\tTV media revenue fell 6% and affiliate revenue fell 7%, reflecting an ongoing erosion in linear.<\/p>\n

\n\tTotal company revenue nosed up 1% to $6.85 billion as direct-to-consumer growth outpaced linear and generated $114 million in free cash flow. DTC profits saw a $131 million year-over-year swing to $157 million. The company swung to a $57 million profit from a $5.4 billion loss in the year-earlier quarter, when it took a massive impairment charge on its cable networks.<\/p>\n

\n\tStrong subscription revenue growth at Paramount+ helped accelerate affiliate and subscription revenue growth across the company to 5%.<\/p>\n

\n\tThe streamer ended the quarter with 77.7 million subscribers, a dip of 1.3 million that mostly reflected the expiration of an international hard bundle deal.<\/p>\n

\n\tAll in, however, investors have been more focused on Paramount\u2019s merger with Skydance<\/a> than quarterly numbers. The $8.4-billion deal was approved by the FCC<\/a> last week and has a planned August 7 closing date<\/a>. The expanded company will start trading on the Nasdaq shortly after that under the stock symbol PSKY.<\/p>\n

\n\t\u201cOver many years, Paramount established itself as an enduring industry leader in media, news, and entertainment,\u201d said non-executive chair and controlling shareholder (for another few days) Shari Redstone<\/a>. <\/p>\n

\n\t\u201cDespite an increasingly challenging environment, the talented co-CEOs and teams across the company have continued to strengthen and grow the business. As a testament to their success and driven by the power of exceptional content, we have seen the impressive growth of Paramount+, the ongoing leadership of CBS, and the continued stream of franchise growth at Paramount Pictures. At the same time, substantial progress has been made in streamlining the company\u2019s cost structure. I am proud that when the Skydance transactions close we will be turning over a healthy business with a strong foundation for long-term growth and value creation,\u201d she said in a statement.<\/p>\n

\n\t\u201cI will be forever grateful to the people of the company and the shareholders who have supported us.\u201d<\/p>\n

\n\tCo-CEOs George Cheeks<\/a>, Chris McCarthy<\/a> and Brian Robbins<\/a> said: \u201cOur goal when we became co-CEOs was to transform Paramount into a streaming first company and today we are substantially better positioned with streaming revenue growth outpacing linear declines, driven by exceptional performance at Paramount+. We saw the largest viewership growth among all subscription services in the US, up 26% vs. the first half of 2024, driven by continued strong content at Paramount+ where we again had the most Top 10 SVOD Originals, behind only the market leader, and churn achieved a record low. CBS content drove nearly half of all viewing on Paramount+ and ranked as the most watched broadcast network for the 17th consecutive season. These impressive results are thanks to our talented teams and creative partners for whom we are very grateful for their continued creativity, dedication and hard work.\u201d<\/p>\n

\n\tToday at 5 ET is the deadline for Paramount stockholders to trade in their shares for a combination of cash and\/or stock in what\u2019s being called New Paramount. Shareholders who don\u2019t make an election by then will automatically receive stock in the new entity.<\/p>\n

\n\tThe value on Paramount Class B shares as per the merger agreement is $15. The shares have never traded that high, with analysts mostly neutral on the stock ahead of guidance from future management led by David Ellison<\/a> and Jeff Shell<\/a> around strategy and staffing.<\/p>\n

\n\tMcCarthy and interim CFO Andrew Warren will lead a pared down call with analysts at 4:30 ET. <\/p>\n

\n\tMcCarthy will be exiting<\/a> as Paramount and Skydance merge. His co-CEO Brian Robbins is also expected to leave. George Cheeks will remain with the new company. The three have been running Paramount as co-CEOs since April.<\/p>\n","protected":false},"excerpt":{"rendered":"Paramount Global reported its last set of financials under Redstone family ownership with a massive jump in theatrical…\n","protected":false},"author":2,"featured_media":52335,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[40136,28,991,28837,18205,8084,40137,40138,40139,40140,4208,3093,40141,3094],"class_list":["post-52334","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-brian-robbins","tag-business","tag-cbs","tag-chris-mccarthy","tag-david-ellison","tag-earnings","tag-george-cheeks","tag-jeff-shell","tag-mission-impossible-the-final-reckoning","tag-mobland","tag-paramount","tag-paramount-global","tag-shari-redstone","tag-skydance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/52334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=52334"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/52334\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/52335"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=52334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=52334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=52334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}