Q1 2025 Paramount Global Earnings Call Transcript
Key Points
- Paramount Global (PARA) reported a 2% year-over-year revenue growth, excluding the Super Bowl, with significant improvements in DTC OIBDA and free cash flow generation.
- Paramount+ achieved a subscriber base of 79 million globally, marking an 11% increase year-over-year, with a notable 16% revenue growth driven by original content.
- Pluto TV experienced its highest consumption ever, with global viewing time up 26% year-over-year, indicating strong user engagement.
- The Filmed Entertainment segment saw success with Sonic the Hedgehog 3, which generated nearly $500 million in box office sales and performed well on streaming platforms.
- CBS continues to deliver strong audience numbers, with significant viewership for sports events like the NCAA championship and The Masters, contributing to its position as the most-watched broadcast network.
- Paramount Global (PARA) faced challenges in digital advertising, particularly with Pluto TV, due to an influx of supply affecting monetization.
- TV Media advertising revenue was flat year-over-year, excluding the Super Bowl, indicating potential stagnation in traditional advertising streams.
- The company anticipates a decline in Q2 subscribers due to content seasonality and the termination of an international hard bundle partnership.
- Despite improvements, D2C OIBDA still reported a loss of $109 million, highlighting ongoing challenges in achieving profitability in the streaming segment.
- The macroeconomic environment remains uncertain, with potential impacts on advertising revenue, necessitating a focus on cost efficiencies and strategic investments.
Good afternoon. My name is Nadia, and I'll be the conference operator today. At this time, I would like to welcome everyone to Paramount Global's Q1 2025 earnings conference call. (Operator Instructions)
At this time, I would now like to turn the call over to Jamie Morris, Paramount Global's EVP, Investor Relations. You may now begin your conference call.
Good afternoon, everyone. Thank you for taking the time to join us for our first quarter 2025 earnings call. Joining me for today's discussion are Paramount's co-CEOs Brian Robbins, Chris McCarthy and George Cheeks and; our CFO, Naveen Chopra. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. Before we start, I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties.
These risks and uncertainties are discussed in more detail in our filings with the SEC. Some of today's
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