Paramount Grows Streaming Subscribers, Narrows Losses as Peak Investment Passes

Paramount Global hit 63 million global streaming subscribers, up from 61 million, and narrowed streaming losses to $238 million in Q3.

The company continues to execute its strategy of prudent investment in streaming while maximizing earnings from traditional businesses.

Streaming losses in 2022 are expected to be lower than in 2021, meaning peak investment has passed.

Asset sales like Simon & Schuster, real estate, and consideration of selling BET have fueled speculation Paramount is a takeover target.

Theatrical studio swung to $49 million loss in Q3 amid production shutdowns from strikes, though hits like Top Gun Maverick delivered big box office.