Paramount Predicts End of Ad Slump After Fourth-Quarter Drop
- Advertising on traditional TV channels fell 15% in the period
- Management sees profit for Paramount+ domestically in 2025
Paramount+ signage in the Times Square, New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Paramount Global, the parent of CBS, MTV and other networks, said fourth-quarter sales fell 6% to $7.64 billion, the result of shrinking advertising on traditional TV channels.
While revenue came in below analysts’ expectations of $7.89 billion, the company posted better-than-expected earnings of 4 cents a share, excluding some items, according to a statement Wednesday. Wall Street was forecasting a break-even quarter.