Paramount earnings, revenue beat expectations as streaming business offers a boost

Paramount Skydance topped Wall Street's revenue and earnings estimates for the first quarter on Monday, as the media company got a boost from its streaming and film businesses. The company reported nearly $7.35 billion in first-quarter revenue, up 2% from the prior year, and lifted by the overall streaming business — which includes Paramount+, as well as BET+ and the free, ad-supported service Pluto. Revenue for the streaming unit grew 11% to $2.4 billion compared to the same period last year. Paramount+, the flagship of the company's streaming portfolio, added 700,000 subscribers during the quarter and grew revenue 17% year over year. In total, Paramount+ had nearly 80 million subscribers, with the most recently quarterly growth coming despite price hikes on Paramount+ plans in January, the platform's first since August 2024. Paramount's film studio revenue increased 11% from the prior year to about $1.28 billion. "Scream 7" helped lift revenue and was the highest-grossing film in the horror flick franchise. The company noted it has nearly doubled its film slate for 2026 over 2025 since closing the merger between Paramount and David Ellison 's Skydance last year. Like its peers, however, Paramount's TV media business, which includes broadcast network CBS, as well as cable TV channels like Nickelodeon, MTV and BET, was weighed down by the continuation of cord cutting. The segment reported $3.67 billion in revenue, down 6% compared to the same quarter last year. …