It’s now known as Paramount Global, and it’s the parent of CBS, in addition to cable TV brands including Nickelodeon and MTV.
The company led by President/CEO released its first quarter 2022 earnings on Tuesday, and by all accounts the focal points for growth are in the Direct-to-Consumer arena. From Pluto TV to Paramount+, there are user number increases. “The first quarter once again demonstrated the power and potential of Paramount’s unique assets and the company’s continued momentum,” company head Bob Bakish said.
The word “potential” is perhaps particularly appropriate with respect to Paramount’s “TV Media” segment. As total company revenue slipped by 1% in Q1 ’22, TV Media dollars were off 6% year-over-year. That’s not entirely accurate, though, and there is a “super” reason.
