Paramount posted a mixed set of Q4 2023 results. Although revenue fell short of estimates, coming in at $7.64 billion, earnings beat expectations standing at $514 million, up from $21 million in the year-ago period. The company's flagship streaming offering, Paramount+, reached 67.5 million subscribers as of the end of December, a net increase of 4.1 million, and recorded 69% growth in revenues.
Below are key drivers of Paramount's value that present opportunities for upside or downside to the current Trefis price estimate for Paramount:
For additional details, select a driver above or select a division from the interactive Trefis split for Paramount at the top of the page.
Paramount is a leading global media and entertainment company. The company's distribution platforms include broadcast and cable networks as well as a fast-growing streaming operation. The company's portfolio includes well-known brands such as CBS, Showtime Networks, Paramount Pictures, Nickelodeon, and MTV. Paramount also holds among the most extensive libraries of television and film titles in the industry.
TV Media Business is the most valuable segment for Paramount primarily due to higher revenues and thick margins.
TV revenues stood at around $20 billion in 2023, counting as Paramount's single largest segment.
Furthermore, this business has high EBITDA margins of around 22% compared to negative levels for the streaming business.