Advanced Television

bob bakish

Paramount cuts 800 staff

Paramount has commenced layoffs with US-based employees affected by the cutbacks set to be notified immediately. A memo from CEO Bob Bakish did not disclose numbers, but Deadline reports an estimated 800 staff will be axed. Bakish had confirmed the planned cutbacks at a Bob Live town hall event in January. At the end of […]

February 13, 2024

WBD and Paramount in merger talks

Studio giants Warner Bros Discovery (WBD) and Paramount Global are in early merger talks according to reports. A resultant deal would create a company with a market value of some $38bn (€34.7bn). It is understood that WBD President & CEO David Zaslav and Paramount CEO Bob Bakish discussed a possible deal over lunch in New […]

December 21, 2023By Colin Mann

Paramount+ adds 2.7m subs in Q3

Paramount Global has reported Q3 financial results to September 30th 2023, with strong growth in both DTC revenue and streaming subscribers. Bob Bakish, Paramount Global CEO, commented: “We continue to execute our strategy and prioritise prudent investment in streaming while maximising the earnings of our traditional business. In Q3, we successfully grew Direct- to-Consumer revenue […]

November 3, 2023

Bakish: Strikes haven’t ‘saved Paramount+’

Bob Bakish, head of Paramount, told an audience at MIPCOM that suggestions the Hollywood strikes had saved his company was ‘wildly overstated’. Bakish allowed that “the strike is accretive to cash in 2023 and that is true for the industry [as a whole]… We are playing the hand we were dealt,” he said at a […]

October 18, 2023Nick Snow @ MIPCOM

MTV Staying Alive Foundation marks 25th anniversary

The MTV Staying Alive Foundation, Paramount Global’s non-profit dedicated to equipping and empowering young people to make informed choices about their health, rights and well-being, today marked its 25th anniversary, which coincides with the UN General Assembly’s Sustainable Development Goals agenda in New York, where world leaders are focusing on renewing momentum and action. The […]

September 22, 2023

Bakish: Charter, Disney showdown ‘inevitable’

Paramount CEO Bob Bakish says the stand-off between Charter and Disney is an “inevitable” consequence of the trends in DTC and pay-TV and their apparent incompatibility. He says ralationships have to “modernise” and says his company is a good example. “Frankly, it wasn’t a surprise, the exact timing was, but it was inevitable that something […]

September 8, 2023

Paramount makes streaming gains in Q2

Paramount Global reported Q2 revenue of $7.62 billion (€6.96bn), slightly above analyst estimates. The company reported a direct-to-consumer loss of $424 million in Q2 compared to a loss of $445 million in the prior-year period and a loss of $511 million in Q1. The company says it expects streaming losses to peak this year after […]

August 8, 2023

Paramount sinks 20% on streamer losses

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 […]

May 4, 2023

Paramount+, Showtime to merge in US

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 […]

January 31, 2023

Pamela Kaufman to lead Paramount Global international business

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 […]

July 29, 2022