The recent broadcast of Super Bowl LVIII boosted Paramount Global's first quarter of 2024, stabilizing advertising revenue at its TV operations, as the company's streaming operations added more than 3 million subscribers and cut losses there by more than 40%. Overall, Paramount narrowed its first quarter operating losses while seeing a 6% uptick in revenue, due in large part to audience and advertiser interest in its Big Game presentation, which set a new viewing record. The company released details of...
Paramount Global
Bob
Bakish
President / CEO
Like other captains of traditional media, Bakish has been steering the company’s fleet of properties into streaming waters — and it’s been a turbulent transition. With losses running in the hundreds of millions in 2023, Paramount+ (now coupled with Showtime in the U.S.) saw its peak year of investment, and Bakish envisions a return to earnings growth in the year ahead. Bakish first joined Viacom in 1997 and led the merger with CBS some two decades later. He oversees global content engines spanning CBS, Paramount Pictures, Nickelodeon, Comedy Central, BET and more. He engineered the company’s deal for Pluto TV, the free ad-supported television streamer that has continued to show strong growth. Bakish has also worked to divest non-core assets: In August 2023, Paramount Global sold Simon & Schuster to private equity firm KKR for $1.62 billion.
