Paramount Global highlighted streaming growth and the theatrical performance of Mission: Impossible – The Final Reckoning in reporting its last set of quarterly financial results before the closure of its merger with Skydance.
The studio owner said its direct to consumer division saw a 15% increase in revenue for the second quarter of 2025, with profit increasing from $26m in last year’s second quarter to $157m.
The company’s flagship Paramount+ streaming service ended the quarter with 77.7m subscribers, down 1.3m over the quarter because of the expiration of an international bundle deal. But the service’s revenue grew 23%, thanks to year-on-year subscriber growth and pricing increases.
Filmed entertainment revenue was up 2% to $690m and theatrical revenue shot up 84% to $254m, reflecting the $592m worldwide gross for the latest Mission: Impossible feature.
Total Paramount Global revenue edged up 1% to $6.85 billion. Overall operating income was $399m (compared to a loss of $5.31bn in the second quarter of 2024 caused by a “goodwill impairment charge” for the company’s cable networks).
With the Skydance deal expected to close on August 7 after some controversy surrounding dealings with US regulators, Paramount Global executives made prepared statements but did not take questions on a conference call after the second quarter results announcement.
Non-executive chair Shari Redstone recalled the ‘content is king’ philosophy of her late father and company builder Sumner Redstone, which, she said, “remains the reality for our business and industry. That is a reality that Skydance surely understands. I am confident that with their vision for the business, and the technology and resources they can bring to bear, they can build on Paramount’s legacy and position it for long term success and value creation.”
Co-CEO Chris McCarthy, who is expected to leave the company after the Skydance deal, said that direct-to-consumer growth driven by the “exceptional performance” of Paramount+ made Paramount “substantially better positioned to thrive in the streaming future.”
No comments yet