Paramount Global Class B (PARA)

Paramount Global's stock has seen an increase of 11.26% between July 18, 2024, and July 17, 2025, and has risen by 14.1% over the past six months, outperforming the Communication Services Select Sector SPDR ETF Fund (XLC). Key events impacting the stock include merger uncertainty and progress with Skydance Media, which has cleared SEC and EU reviews but still faces an FCC review. In Q4 2024, the DTC segment swung to a loss, but full-year DTC profitability improved, and Paramount+ added 5.6 million new subscribers. In Q1 2025, total revenue decreased by 6%, but the DTC segment saw a 9% revenue increase, with Paramount+ adding 1.5 million subscribers. Strong content performance has driven subscriber growth, and the company is focusing on cost efficiencies, aiming for $500 million in annual run rate savings.

Demand seasonality for Paramount Global is influenced by content slate, major events, and advertising revenue. The release of new original series, films, and major live events significantly impact subscriber growth and engagement for Paramount+. Advertising revenue can be seasonal, with Q4 often benefiting from political spending. The DTC segment's profitability can be affected by the seasonality of its content slate. The Filmed Entertainment segment's revenue is influenced by the success and timing of theatrical releases and home entertainment sales. Paramount Global aims to mitigate these fluctuations by diversifying its revenue streams and focusing on consistent subscriber growth and engagement across its streaming platforms.

Paramount Global is a global media, streaming, and entertainment company operating in the Communication Services sector and the Entertainment and Broadcasting industries. Its business is segmented into TV Media, Direct-to-Consumer (DTC), and Filmed Entertainment. The TV Media segment includes broadcast operations and cable networks, generating revenue through advertising and affiliate fees. The Direct-to-Consumer (DTC) segment offers streaming services like Paramount+ and Pluto TV, driven by subscriptions and advertising. The Filmed Entertainment segment produces and acquires content for global release across various platforms. Paramount Global's content production capabilities are extensive, enabling it to create original content and leverage valuable franchises.

Paramount Global has a significant global operating footprint, with content production capabilities extending across Latin America, the U.K., Europe, the Middle East, Africa, and Asia Pacific. The company operates cable networks in many key international markets and maintains commercial relationships with strategic partners worldwide. In major territories like the UK and Australia, Paramount Global has an owned and operated streaming presence that benefits from cross-promotion and programming with its local broadcast networks. The company has also expanded its physical presence with new facilities in Texas, New Jersey, Colorado, and in Birmingham and Darlington in the UK to meet growing demand. Revenues from the United States and international revenues have shown an overall upward trend.

Paramount Global's brand reputation has been influenced by streaming growth, content performance, and sustainability efforts, alongside some challenges. Streaming growth and content success have positively impacted its reputation, with Paramount+ seeing substantial subscriber growth. The company was granted the EcoVadis Silver Medal for its sustainability efforts. However, revenue declines in traditional segments, distribution disputes, merger uncertainty, and the cancellation of "The Late Show with Stephen Colbert" have presented challenges.

Paramount Global has a dual-class stock structure, with the Redstone family holding the majority of voting shares. Major institutional owners include Vanguard Group Inc., State Street Corp, and BlackRock, Inc. Individual investors also hold a significant portion of Paramount Global's shares, with approximately 54.83% of Class B stock held by public companies and individual investors.