The TV Media arm of Paramount Global, under scrutiny from President Trump and the FCC over alleged “news distortion,” experienced a 13% year-over-year revenue decline in the first quarter as the company as a whole saw a decrease in its adjusted earnings per share from continuing operations attributable to the company.
For Q1, TV Media revenue came in at $4.54 billion, declining from $5.23 billion. This includes a 10% impact from the comparison against CBS’s broadcast of Super Bowl LVIII in the first quarter of 2024. Excluding the Super Bowl, TV Media advertising revenue was flat. Affiliate and subscription revenue decreased 9%, driven principally by subscriber declines as well as the impact of recent renewals, Paramount said.
By comparison, the Direct-to-Consumer segment, which includes Paramount+, saw a revenue jump to $2.04 billion, from $1.88 billion.
Still, the adjusted diluted EPS from continuing operations attributable to Paramount slipped to $0.29, from $0.62.
The results were mixed, with competing analysts calling them a beat and a miss simultaneously.
