Paramount Global reported strong Q1 2025 results driven by streaming growth and a successful content lineup. While total revenue fell 6% year-over-year due to the prior yearโs Super Bowl boost, it actually rose 2% when excluding that impact.
Paramount+ reached 79 million subscribers (up 11%) with improved watch time (+17%) and lower churn. Direct-to-Consumer (DTC) revenue rose 9% to $2.04 billion, and DTC Adjusted OIBDA improved by $177 million, keeping Paramount+ on track for U.S. profitability in 2025.
Hit films like Sonic the Hedgehog 3 bolstered the Filmed Entertainment division, while TV Media revenue declined 13% due to the absence of the Super Bowl. Advertising revenue dropped 19% but remained flat when adjusted for the event.
The company generated $180 million in operating cash flow and $123 million in free cash flow, and expects its Skydance merger to close in H1 2025. Executives remain confident in continued growth through content strength and strategic focus.