PS

Paramount Skydance Corporation Class B Common Stock

PSKY·NASDAQ

$10.45

-3.1%
Communication ServicesEntertainment

Paramount Skydance Corporation operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; and domestic premium and basic cable networks, such as Nickelodeon, MTV, CMT, Comedy Central, BET, Paramount+ with SHOWTIME, Paramount Network, The Smithsonian Channel, BET Media Group, CBS Sports Network, and international extensions of these brands. This segment also provides domestic and international television studio operations, including CBS Studios, Paramount Television Studios, and Showtime/MTV Entertainment Studios; CBS Media Ventures, which produces and distributes first run syndicated programming; and digital properties consist of CBS News Streaming and CBS Sports HQ. The Direct-to-Consumer segment offers a portfolio of domestic and international pay and free streaming services, including Paramount+, Pluto TV, and BET+. The Filmed Entertainment segment produces and acquires films, series, and short-form content for release and licensing around the world, including in theaters, on streaming services, on television, through digital home entertainment, and DVDs/Blu-rays; and operates a portfolio consist of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness, and Miramax. It provides production, distribution, and advertising solutions. The company was formerly known as ViacomCBS Inc. and changed its name to Paramount Global in February 2022. The company was founded in 1914 and is headquartered in New York, New York. Paramount Global is a subsidiary of National Amusements, Inc.

At a Glance

Live Snapshot
Market Cap$11.37B
EPS-9.3200
P/E Ratio-1.12
Earnings Date07/30/2026

Earnings Call Transcript

PSKY • 2024 • Q1

Operator
Good afternoon. My name is Harry, and I'll be your conference operator today. I would like to welcome everyone to Paramount Global's Q1 2024 Earnings Conference Call. At this time, I would now like to turn the call over to Jaime Morris, Paramount Global's EVP, Investor Relations. You may now begin your conference call.
Jaime Morris
Good afternoon, everyone. Thank you for taking the time to join us for our first quarter 2024 earnings call. Joining me for today's discussion is Naveen Chopra, our CFO; and to make some brief introductory remarks on behalf of our new Office of the CEO, we have also have George Cheeks, Chris McCarthy and Brian Robbins. Before we start, please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. Also, I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. These risks and uncertainties are discussed in more detail on our filings with the SEC. Some of today's financial remarks will focus on adjusted results. Reconciliations of these non-GAAP financial measures can be found in our earnings release or in our trending schedules, which contains supplemental information. And in each case, these can be found in the Investor Relations section of our website. I also want to note that we will not be taking questions following our prepared remarks. The main purpose of today's call is to provide you with the information regarding our first quarter 2024 performance. Now I will turn the call over to George.
George Cheeks
Thanks, Jaime. First, we want to thank Bob for his many years of leadership and steadfast support for all Paramount Global businesses, brands and people. Now Chris, Brian and I want to speak briefly on our partnership, our excitement about this collaboration and what we're addressing is our first order of business. Let me start by saying that Paramount Global has the greatest content in the world. That is the most important point. We've got incredible assets at this company, both in what we produce and the amazing people who make it all possible. Everything will build from that. And now over to Chris.
Chris McCarthy
Thank you, George. And just as important is the fact that we've all worked together collaboratively for years and have known each other for decades. It's a true partnership. We have a deep respect for one another, and we're going to lead and manage this company together. On that note, we're finalizing a long-term strategic plan to best position the stored company to reach new and greater heights in our rapidly changing world. The plan is focused on 3 pillars: first, make the most of our hit content; second, strengthen our balance sheet; and third, optimize our streaming strategy. And now here's Brian.
Brian Robbins
Thank you, Chris. George, Chris and I have been collaborating with each other for years. transforming our businesses and most importantly, making hit films and television, which is the core of Paramount Global. Each of us has deep industry knowledge, relationships and experience as business leaders and creative executives. We will bring all of that to bear as we chart a course forward for our company. We look forward to coming back to you in short order to share our plan and discussing it all in detail at that time. Thank you, and now here's Naveen.
Transcript from April 29, 2024

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