Paramount Global (PARA, Financials) reported fourth-quarter 2024 earnings with a 30% year-over-year increase in adjusted operating income before depreciation and amortization to $3.1 billion.
Cash flow free-standing came to $489 million. Executives said Paramount+ remains on target for domestic profitability in 2025.
Adding 5.6 million members in the quarter, Paramount+ brought the overall count to 77.5 million. Watch time per user climbed 20% year over year, hence lowering attrition. Streaming income grew 8% to $2 billion; subscription income rose 14%; digital ad sales climbed 18%.
As affiliate income plummeted 6.7% and advertising dropped 4%, traditional TV revenue dipped 4% to $5 billion. Driven by secondary licensing arrangements, licensing income grew by 3%.
Leading with Sonic the Hedgehog 3 and Gladiator 2, Paramount Pictures earned around $900 million at the worldwide box office in the quarter. With the next releases including Mission Impossible: The Final Reckoning, The Running Man, and a new SpongeBob SquarePants feature, the firm is growing franchises.
By 2025, Paramount anticipates steady content expenditure and further streaming expansion. As the business moves further toward streaming, the Skydance deal looks to finalize in the first part of the year.
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