Paramount Global (PARA): Business Model Canvas

In der dynamischen Medien- und Unterhaltungslandschaft erweist sich Paramount Global (PARA) als Kraftpaket, das sich strategisch durch die komplexe Welt der Inhaltserstellung, -verteilung und der Einbindung des Publikums bewegt. Durch die Nutzung eines robusten Geschäftsmodells, das traditionelle Rundfunkübertragungen, hochmoderne Streaming-Plattformen und verschiedene Unterhaltungsmarken umfasst, hat sich das Unternehmen an der Spitze einer digitalen Medienrevolution positioniert, die innovative Technologie nahtlos mit fesselndem Storytelling über mehrere Kanäle und Zielgruppensegmente hinweg verbindet.

Paramount Global (PARA) – Geschäftsmodell: Wichtige Partnerschaften

Streaming-Plattformen

Paramount Global unterhält wichtige Partnerschaften mit:

• Pluto TV (hundertprozentige Tochtergesellschaft)
• Paramount+ (eigene Streaming-Plattform)
• Paramount+ Internationaler Streaming-Dienst in 25 Märkten

Plattform	Abonnenten	Einnahmen
Paramount+	67 Millionen Abonnenten (4. Quartal 2023)	3,3 Milliarden US-Dollar Streaming-Umsatz (2023)
Pluto-TV	80 Millionen monatlich aktive Benutzer	1,1 Milliarden US-Dollar Werbeeinnahmen (2023)

Content-Produktionsstudios und Netzwerke

Paramount Global arbeitet mit:

• CBS Studios
• Paramount Fernsehstudios
• MTV Entertainment Studios
• Nickelodeon Studios

Technologie- und Vertriebspartner

Partner	Details zur Zusammenarbeit
Amazon	Prime Video-Vertrieb
Roku	Plattform zur Verbreitung von Inhalten
Apple TV	App- und Content-Verteilung

Werbeagenturen und Medieneinkäufer

Zu den wichtigsten Werbepartnerschaften gehören:

• Publicis Groupe
• WPP
• Omnicom Media Group

Internationale Medien- und Unterhaltungsunternehmen

Region	Partner	Art der Zusammenarbeit
Vereinigtes Königreich	Himmel	Inhaltsverteilung
Australien	Netzwerk 10	Teilen von Inhalten
Lateinamerika	Telefónica	Partnerschaft mit Streaming-Plattformen

Paramount Global (PARA) – Geschäftsmodell: Hauptaktivitäten

Inhaltsproduktion und -entwicklung

Paramount Global produzierte im Jahr 2023 632 Stunden Originalprogramm. Das Unternehmen investierte 6,8 Milliarden US-Dollar in die Erstellung von Inhalten über seine verschiedenen Netzwerke und Streaming-Plattformen.

Inhaltskategorie	Jährliche Produktionsstunden	Geschätzte Investition
Geskriptetes Fernsehen	287 Stunden	3,2 Milliarden US-Dollar
Streaming von Originalinhalten	215 Stunden	2,1 Milliarden US-Dollar
Realität und nicht geschriebene Programmierung	130 Stunden	1,5 Milliarden US-Dollar

Streaming-Service-Management

Paramount+ hatte im vierten Quartal 2023 weltweit 60 Millionen Abonnenten und einen jährlichen wiederkehrenden Umsatz von 3,3 Milliarden US-Dollar mit Streaming-Diensten.

• Verwaltete Streaming-Plattformen: Paramount+, Pluto TV
• Monatliche Abonnementpreise: 9,99 $ (Standard), 14,99 $ (Premium)
• Weltweite Streaming-Marktdurchdringung: 6,2 %

Werbeverkauf und Marketing

Paramount Global erwirtschaftete im Jahr 2023 Werbeeinnahmen in Höhe von 11,2 Milliarden US-Dollar, mit einer Wachstumsrate der digitalen Werbung von 7,3 %.

Werbekanal	Einnahmen	Marktanteil
Fernsehwerbung	7,6 Milliarden US-Dollar	4.5%
Digitale Werbung	3,6 Milliarden US-Dollar	2.8%

Medienverteilung über mehrere Plattformen

Paramount verbreitete Inhalte in 180 Ländern mit 27 eigenen Fernsehsendern und 11 internationalen Streaming-Diensten.

• Vertriebsplattformen: Kabel, Satellit, Streaming, On-Demand
• Belieferte internationale Märkte: 180 Länder
• Vertriebskanäle insgesamt: 38

Marken- und geistiges Eigentumsmanagement

Paramount besitzt mehr als 4.000 Filmtitel und mehr als 70.000 Fernsehepisoden mit einem Portfolio an geistigem Eigentum im Wert von 15,6 Milliarden US-Dollar.

IP-Kategorie	Gesamtvermögen	Geschätzter Wert
Filmbibliothek	Über 4.000 Titel	9,2 Milliarden US-Dollar
Fernsehepisoden	Über 70.000 Folgen	6,4 Milliarden US-Dollar

Paramount Global (PARA) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Medien- und Unterhaltungsinhaltsbibliothek

Paramount Global besitzt eine Inhaltsbibliothek im Wert von etwa 55 Milliarden US-Dollar (Stand 2023). Die Bibliothek umfasst:

Inhaltskategorie	Anzahl der Titel	Geschätzter Wert
Filmbibliothek	Über 4.300 Filme	32,5 Milliarden US-Dollar
Fernsehbibliothek	Über 7.000 TV-Folgen	22,5 Milliarden US-Dollar

Verschiedene Unterhaltungsmarken

Paramount Global verwaltet mehrere Unterhaltungsmarken:

• CBS: 16 eigene Fernsehsender
• MTV: 24 internationale Kanäle
• Nickelodeon: Verfügbar in über 170 Ländern
• Paramount+: 61,1 Millionen weltweite Abonnenten im vierten Quartal 2023

Fortschrittliche Infrastruktur für Streaming-Technologie

Details zur Streaming-Technologie-Infrastruktur:

Technologiekomponente	Spezifikation
Cloud-Infrastruktur	Amazon Web Services und Google Cloud Platform
Content-Delivery-Netzwerk	Akamai-Technologien
Jährliche Technologieinvestition	750 Millionen US-Dollar im Jahr 2023

Talentierte Kreativ- und Produktionsteams

Zusammensetzung der Belegschaft:

• Gesamtbeschäftigte: 19.200 (Stand 2023)
• Kreativschaffende: 6.500
• Produktionsmitarbeiter: 3.800

Starkes Portfolio an geistigem Eigentum

Geistiges Eigentum:

IP-Kategorie	Anzahl der Eigenschaften	Geschätzter Wert
Film-Franchises	42 aktive Franchises	18,5 Milliarden US-Dollar
Fernseh-Franchises	63 aktive Franchises	12,3 Milliarden US-Dollar

Paramount Global (PARA) – Geschäftsmodell: Wertversprechen

Bereitstellung von Unterhaltungsinhalten für mehrere Plattformen

Paramount Global liefert Inhalte auf mehreren Plattformen, darunter:

Plattform	Abonnenten/Reichweite
Paramount+	46 Millionen Abonnenten (4. Quartal 2023)
Pluto-TV	80 Millionen monatlich aktive Benutzer
Paramount-Netzwerk	Lineare TV-Reichweite von 75 Millionen Haushalten

Vielfältiges Programm über Genres und Bevölkerungsgruppen hinweg

Das Inhaltsportfolio umfasst:

• ^ „CBS-Nachrichten“
• Sport: CBS Sports
• Unterhaltung: MTV, Comedy Central
• Streaming: Paramount+ Originalserie

Erschwingliche und zugängliche Streaming-Optionen

Streaming-Dienst	Monatspreis
Paramount+ Essential	$5.99
Paramount+ Premium	$11.99

Hochwertige Original- und lizenzierte Inhalte

Content-Investition: 6,5 Milliarden US-Dollar an Content-Ausgaben für 2023

• Paramount+ Originalserie: Über 150 Originale
• Franchise-Eigenschaften: Star Trek, Mission Impossible
• Filmstudio: Paramount Pictures

Personalisierte Unterhaltungserlebnisse

Personalisierungsfunktionen:

• KI-gesteuerte Empfehlungsalgorithmen
• Mehrere Benutzerprofile pro Konto
• Anpassbare Anzeigeeinstellungen

Paramount Global (PARA) – Geschäftsmodell: Kundenbeziehungen

Abonnementbasierte Streaming-Modelle

Paramount+ meldete im vierten Quartal 2023 weltweit 63 Millionen Abonnenten. Der Streaming-Dienst bietet drei primäre Abonnementstufen:

Abonnementstufe	Monatspreis	Funktionen
Unverzichtbar	$5.99	Begrenzte Werbung
Premium	$11.99	Keine Werbung, Live-Sport
Bundle mit Showtime	$14.99	Zugriff auf Premium-Inhalte

Gezielte Inhaltsempfehlungen

Paramount Global nutzt plattformübergreifend KI-gesteuerte Empfehlungsalgorithmen:

• 73 % der Paramount+-Benutzer interagieren mit personalisierten Inhaltsvorschlägen
• Algorithmen für maschinelles Lernen analysieren mehr als 250 Datenpunkte zur Benutzerinteraktion
• Empfehlungsgenauigkeitsrate: 68 %

Social-Media-Engagement

Die Social-Media-Kennzahlen von Paramount Global ab 2024:

Plattform	Anzahl der Follower	Engagement-Rate
Instagram	5,2 Millionen	3.7%
Twitter/X	2,8 Millionen	2.1%
Facebook	4,5 Millionen	2.9%

Kundensupport über digitale Plattformen hinweg

Die Kundensupportkanäle von Paramount Global:

• Reaktionszeit des Live-Chat-Supports rund um die Uhr: 3,2 Minuten
• Lösungszeit für den E-Mail-Support: 12 Stunden
• Verfügbarkeit des telefonischen Supports: 8:00–23:00 Uhr EST
• Kundenzufriedenheitsbewertung: 87 %

Treueprogramme für engagierte Zuschauer

Funktionen des Treueprogramms Paramount+:

• Frühzeitiger Zugriff auf exklusive Inhalte für Langzeitabonnenten
• Prämienpunktesystem: 1 Punkt pro ausgegebenem Dollar
• Vierteljährlicher Bonusinhalt für Abonnenten über 12 Monate
• Empfehlungsprogramm: 10 $ Guthaben für jeden neuen Abonnenten

Paramount Global (PARA) – Geschäftsmodell: Kanäle

Paramount+ Streaming-Plattform

Im vierten Quartal 2023 meldete Paramount+ weltweit 63 Millionen Abonnenten. Die Plattform erwirtschaftete im Jahr 2023 einen Streaming-Umsatz von 3,3 Milliarden US-Dollar.

Plattformmetrik	Daten für 2023
Gesamtzahl der weltweiten Abonnenten	63 Millionen
Streaming-Einnahmen	3,3 Milliarden US-Dollar

Kostenloser Streaming-Dienst Pluto TV

Pluto TV erreichte im Jahr 2023 monatlich 80 Millionen aktive Nutzer. Die Plattform generierte Werbeeinnahmen in Höhe von 1,1 Milliarden US-Dollar.

Pluto-TV-Metrik	Daten für 2023
Monatlich aktive Benutzer	80 Millionen
Werbeeinnahmen	1,1 Milliarden US-Dollar

Traditionelle Rundfunknetze (CBS)

CBS hält mit etwa 16,5 Millionen Zuschauern zur Hauptsendezeit im Jahr 2023 weiterhin eine bedeutende lineare TV-Zuschauerzahl aufrecht.

Mobile und digitale Streaming-Anwendungen

• Downloads der mobilen Paramount+-App: 25 Millionen im Jahr 2023
• Durchschnittliche monatliche mobile Streaming-Stunden: 450 Millionen
• Umsatzbeitrag mobiler Apps: 780 Millionen US-Dollar

Vertriebspartner von Drittanbietern

Paramount Global unterhält Vertriebspartnerschaften mit:

• Amazon Prime Video
• Apple TV
• Roku
• Google TV

Vertriebspartner	Abonnentenreichweite
Amazon Prime Video	12 Millionen Paramount+-Abonnenten
Apple TV	5 Millionen Paramount+-Abonnenten
Roku	8 Millionen Paramount+-Abonnenten

Paramount Global (PARA) – Geschäftsmodell: Kundensegmente

Streaming-Unterhaltungskonsumenten

Paramount+ meldete im vierten Quartal 2023 weltweit 60 Millionen Abonnenten. Der Streaming-Umsatz erreichte im Jahr 2023 3,3 Milliarden US-Dollar.

Streaming-Plattform	Abonnentenzahl	Jahresumsatz
Paramount+	60 Millionen	3,3 Milliarden US-Dollar
Pluto-TV	80 Millionen monatlich aktive Benutzer	1,5 Milliarden US-Dollar

Kabel- und traditionelles Fernsehpublikum

Die linearen TV-Netzwerke von Paramount erreichten im Jahr 2023 87,3 Millionen Haushalte in den Vereinigten Staaten.

• CBS: 41,5 Millionen Zuschauer pro Woche
• MTV: 22,6 Millionen monatliche Zuschauer
• Comedy Central: 18,7 Millionen monatliche Zuschauer

Jüngere Bevölkerungsgruppe (Gen Z, Millennials)

Paramount richtet sich über spezifische Inhalte und Plattformen an ein jüngeres Publikum.

Plattform	Altersgruppen-Engagement	Monatliche Benutzer
MTV	18-34 Jahre	22,6 Millionen
Comedy Central	18-34 Jahre	18,7 Millionen

Internationale Medienkonsumenten

Paramount+ expandierte in 60 Länder und verzeichnete ein deutliches internationales Wachstum.

• Internationale Abonnenten: 20 Millionen
• Internationaler Umsatz: 1,2 Milliarden US-Dollar im Jahr 2023
• Stärkste Märkte: Kanada, Großbritannien, Australien

Enthusiasten von Nischeninhalten

Paramount bedient spezialisierte Content-Segmente über mehrere Kanäle.

Nischenkanal	Spezifischer Inhaltsfokus	Monatliche Zuschauer
WETTE	Afroamerikanische Unterhaltung	15,4 Millionen
Paramount-Netzwerk	Männerorientierte Programmierung	12,3 Millionen

Paramount Global (PARA) – Geschäftsmodell: Kostenstruktur

Kosten für die Produktion und Lizenzierung von Inhalten

Im Jahr 2023 meldete Paramount Global Ausgaben für die Produktion und Lizenzierung von Inhalten in Höhe von 6,93 Milliarden US-Dollar. Die Aufschlüsselung umfasst:

Inhaltskategorie	Aufwand (Mio. USD)
Paramount+ Originalinhalt	1,450
Kinofilmproduktion	1,250
Produktion von TV-Serien	2,100
Inhaltslizenzierung	2,130

Wartung der Technologieinfrastruktur

Die Kosten für die Technologieinfrastruktur für Paramount Global beliefen sich im Jahr 2023 auf insgesamt 872 Millionen US-Dollar, darunter:

• Cloud-Computing-Dienste: 312 Millionen US-Dollar
• Wartung des Rechenzentrums: 215 Millionen US-Dollar
• Streaming-Plattform-Technologie: 345 Millionen US-Dollar

Marketing- und Werbekosten

Die Marketingausgaben für 2023 erreichten 1,45 Milliarden US-Dollar mit folgender Aufteilung:

Marketingkanal	Aufwand (Mio. USD)
Digitales Marketing	520
Traditionelle Medienwerbung	680
Werbekampagnen	250

Mitarbeitergehälter und Talentakquise

Die gesamten personalbezogenen Ausgaben beliefen sich im Jahr 2023 auf 3,2 Milliarden US-Dollar:

• Grundgehälter: 2,1 Milliarden US-Dollar
• Kosten für die Talentakquise: 180 Millionen US-Dollar
• Leistungen und Vergütung: 920 Millionen US-Dollar

Betriebskosten der Streaming-Plattform

Die Betriebskosten für Streaming-Plattformen beliefen sich im Jahr 2023 auf 1,1 Milliarden US-Dollar:

Betriebskategorie	Aufwand (Mio. USD)
Technischer Support	310
Content-Delivery-Netzwerk	250
Kundenservice	180
Plattformwartung	360

Paramount Global (PARA) – Geschäftsmodell: Einnahmequellen

Abonnementgebühren von Paramount+

Im vierten Quartal 2023 meldete Paramount+ weltweit 61,4 Millionen Abonnenten. Zu den Abonnementstufen gehören:

Abonnementstufe	Monatspreis	Jahresabonnenten
Essential-Plan	$5.99	22,3 Millionen
Premium-Plan	$11.99	39,1 Millionen

Werbeeinnahmen

Paramount Global erwirtschaftete im Geschäftsjahr 2023 Werbeeinnahmen in Höhe von 10,7 Milliarden US-Dollar.

• Lineare TV-Werbung: 6,3 Milliarden US-Dollar
• Digitale Werbung: 4,4 Milliarden US-Dollar

Lizenzierung und Vertrieb von Inhalten

Die Einnahmen aus der Lizenzierung von Inhalten beliefen sich im Jahr 2023 auf 2,9 Milliarden US-Dollar.

Inhaltskategorie	Lizenzeinnahmen
Fernsehsendungen	1,4 Milliarden US-Dollar
Filmrechte	1,5 Milliarden US-Dollar

Pluto TV-werbefinanzierte Streaming-Einnahmen

Pluto TV generierte im Jahr 2023 Werbeeinnahmen in Höhe von 1,2 Milliarden US-Dollar.

• Insgesamt monatlich aktive Benutzer: 72 Millionen
• Durchschnittlicher Umsatz pro Benutzer: 16,67 $

Einnahmen aus der internationalen Marktexpansion

Die internationalen Märkte trugen im Jahr 2023 4,5 Milliarden US-Dollar zum Gesamtumsatz von Paramount Global bei.

Region	Umsatzbeitrag
Europa	1,8 Milliarden US-Dollar
Lateinamerika	1,2 Milliarden US-Dollar
Asien-Pazifik	1,5 Milliarden US-Dollar

Paramount Global (PARA) - Canvas Business Model: Value Propositions

You're looking at the core value Paramount Global (PARA) offers its customers as of late 2025, post-Skydance integration. It boils down to a dual-pronged approach: premium, must-have content delivered across a flexible ecosystem.

A single, integrated platform for premium, multi-genre content and live events.

The value proposition centers on the breadth of content accessible through the Direct-to-Consumer (D2C) segment. By the end of the third quarter of 2025, Paramount+ had grown its global subscriber base to 79.1 million, representing a 14 percent increase year-over-year. This scale supports a platform delivering everything from premium scripted series to live sports and news. The D2C division itself generated $2.17 billion in revenue for Q3 2025, up 17 percent from the prior year, signaling strong customer adoption of the combined offering.

Choice between subscription (Paramount+) and free ad-supported (Pluto TV) streaming.

This is where the flexibility really shines. You have the premium, subscription-based Paramount+, which saw its Average Revenue Per User (ARPU) reach approximately $8.40 in Q3 2025, an 11 percent jump. Then there is Pluto TV, the free, ad-supported streaming television (FAST) service, which continues to benefit from strong engagement and monetization, offering an alternative access point to Paramount Global's library. The company has signaled confidence in this dual approach, expecting the D2C business to be profitable in 2025.

Must-watch, high-quality original series and major film franchises.

The content engine is designed to drive both subscription acquisition and theatrical success. Franchise power is a clear value driver. For instance, in Q2 2025, Mission: Impossible - The Final Reckoning delivered the biggest global opening in that franchise's history. The company plans to lean into this IP strategy, forecasting at least 15 films annually starting in 2026, up from a Q3 2025 filmed entertainment revenue of $768 million. Original series like Tulsa King have also set global debut records for Paramount+.

Reliable live news and sports coverage via CBS and its affiliates.

The legacy broadcast assets provide a crucial, reliable draw. While the broader TV Media segment revenue declined 12 percent to $3.8 billion in Q3 2025, driven by lower advertising and affiliate fees, the core value of live programming remains. The NFL on CBS viewership, for example, saw an increase of 5 percent year-over-year in late 2024, with streaming viewership up over 50 percent, showing the synergy between linear and digital delivery for live events.

Global content scale, defintely a competitive advantage in international markets.

The global footprint is substantial, evidenced by the 79.1 million worldwide Paramount+ subscribers as of Q3 2025. This scale allows for content investment that travels well; for example, international Paramount+ subscribers spend nearly 90 percent of their time watching global Hollywood hits, allowing for rightsizing of local content investment. The company is also actively managing its international structure, planning the sale of assets like Telefe and Chilevision as part of its strategic recalibration.

Here's a quick look at the key financial scale underpinning these value propositions as of the latest reported quarter:

Metric	Value (Q3 2025)	Context
Total Company Revenue	$6.7 billion	Flat year-over-year (pro forma)
Paramount+ Subscribers (Global)	79.1 million	Up 14 percent year-over-year
Streaming Revenue	$2.17 billion	Up 17 percent year-over-year
Paramount+ ARPU	Approx. $8.40	Up 11 percent year-over-year
Gross Debt	$13.6 billion	Cash on hand was $3.3 billion

Finance: draft 13-week cash view by Friday.

Paramount Global (PARA) - Canvas Business Model: Customer Relationships

You're looking at how Paramount Global, now operating as Paramount Skydance Corporation following the August 2025 merger, manages its direct interactions with viewers and business partners in late 2025. This is a complex mix of automated digital engagement and traditional, high-touch executive relationships.

Automated, personalized recommendations and churn reduction via the DTC platform

The Direct-to-Consumer (DTC) segment, which includes Paramount+, is the company's top priority for growth, with executives expecting the entire DTC business to be profitable for the full 2025 year. Customer retention is actively managed through technological means; for instance, in the first quarter of 2025, churn improved by 130 bps year-over-year. The platform uses data analytics to gain deeper insights into audience preferences, supported by investments in AI and Recommendation Engines. The success of this approach is reflected in global viewing hours, which increased 31% year-over-year across Paramount+ and Pluto TV in Q1 2025. Paramount+ itself represents about 80% of the total D2C business.

Here's a quick look at the key DTC performance metrics leading into late 2025:

Metric	Period End	Value	Change/Context
Paramount+ Global Subscribers	Q3 2025 (Sept)	79.1 million	Up 14 percent year-over-year
Paramount+ Net Additions	Q3 2025	1.4 million	During the quarter
DTC Revenue	Q3 2025	$2.17 billion	Up 17% year-over-year
Streaming ARPU (Average Revenue Per User)	Q3 2025	Approximately $8.40	Up 11% year-over-year
DTC Advertising Revenue	Q3 2025	$479 million	Slipped 6% from prior year

What this estimate hides is the volatility; total streaming subscribers dipped to 77.7 million in Q2 2025 due to the expiration of a bulk deal in Europe.

Direct-to-Consumer (DTC) self-service and support for streaming subscribers

The self-service model is foundational for the streaming business, allowing subscribers to manage their accounts directly. Paramount Global is working to streamline this experience by integrating enterprise software; for example, they are integrating Oracle Fusion, a cloud-based system, to improve operational oversight. This backend efficiency helps support the front-end self-service experience. The focus on increasing Average Revenue Per User (ARPU) also implies a direct management of the subscriber's transaction relationship, which includes pricing adjustments; the company announced plans to raise prices for its U.S. subscription video-on-demand (SVOD) services in early 2025. The company is also planning to unify the technology platforms for its three streaming services-Paramount+, Pluto TV, and BET+-next year (2026).

Dedicated sales teams managing long-term affiliate fee contracts with cable providers

The traditional TV Media segment still relies on established, high-touch relationships for carriage agreements. Affiliate and subscription revenues are principally comprised of cable affiliate fees and retransmission fees. These relationships are under pressure, as linear TV's affiliate and subscription revenues were down 7% to $1.74 billion in Q3 2025, driven by a decline in pay TV subscribers. In Q1 2025, this revenue line decreased 9%, which management attributed to both subscriber declines and the impact of recent renewals. The entire TV Media revenue segment, which includes these fees, was $3.8 billion in Q3 2025, a 12% decline year-over-year.

Key components of the TV Media affiliate relationship revenue include:

• Cable affiliate fees for networks like Nickelodeon, MTV, and BET.
• Retransmission fees for owned television stations, including CBS.
• Reverse compensation from television stations affiliated with the CBS Television Network.

High-touch relationships with major advertising agencies and media buyers

Securing large advertising commitments requires direct, high-touch engagement with major agencies and media buyers, especially for premium inventory like live sports. The NFL on CBS viewership increased by 5% in Q3 2024, with streaming viewership up over 50% year-over-year, which provides high-value inventory for these relationships. However, the linear TV advertising market remains soft. In Q3 2025, TV Media advertising revenue fell 12% to $1.47 billion (or $1.465 billion), impacted by an unfavorable comparison to strong presidential advertising in Q3 2024. The DTC advertising side also saw a dip, with ad revenue slipping 6% to $479 million in Q3 2025, due to lower sellout levels on Pluto TV. The overall advertising revenue breakdown for Q3 2025 shows the continued shift away from traditional linear buys.

Here are the advertising revenue figures for recent quarters:

• TV Media Advertising (Q3 2025): $1.47 billion.
• DTC Advertising (Q3 2025): $479 million.
• TV Media Advertising (Q1 2025): $1.879 billion (Excluding Super Bowl LVIII impact).

Finance: draft 13-week cash view by Friday.

Paramount Global (PARA) - Canvas Business Model: Channels

Direct-to-Consumer (DTC) apps: Paramount+ and Pluto TV on all major devices.

Paramount+ ended the third quarter (Q3) of 2025 with 79.1 million subscribers worldwide, marking a 14 percent increase year-over-year. The Average Revenue Per User (ARPU) for Paramount+ reached approximately $8.40 in Q3 2025, up 11 percent from the prior year. The entire Direct-to-Consumer division generated streaming revenue of $2.17 billion in Q3 2025, a 17 percent increase. Paramount+ revenue accounted for more than 80 percent of that total streaming figure. Pluto TV, the free, ad-supported service, contributed to the growth in streaming advertising revenue. The last publicly stated Monthly Active User (MAU) count for Pluto TV globally was 72 million.

Linear TV networks: CBS broadcast and cable networks (e.g., Comedy Central, BET).

The TV Media segment, which includes CBS and cable networks, saw its revenue decline in Q3 2025.

• TV Media revenue for Q3 2025 was $3.8 billion.
• TV advertising revenue for Q3 2025 was $1.465 billion.
• This segment's performance was impacted by industry-wide declines in advertising and affiliate fees.

Theatrical distribution via Paramount Pictures for global box office releases.

Revenue from the Filmed Entertainment segment, which includes Paramount Pictures, totaled $768 million in Q3 2025, a 4 percent decrease from the year prior. Paramount Pictures plans to recalibrate its film strategy and expand theatrical output to at least 15 films annually starting in 2026.

Third-party digital storefronts like Amazon Prime Video Channels and Apple TV.

This distribution method is embedded within the overall Direct-to-Consumer revenue stream, contributing to the $2.17 billion in streaming revenue reported for Q3 2025.

Affiliate and carriage deals with cable, satellite, and virtual MVPDs.

Affiliate and subscription revenue within the TV Media segment declined in Q3 2025.

Here's a quick look at some key Q3 2025 channel-related financial metrics:

Metric Category	Specific Metric	Amount/Value (Q3 2025)
Direct-to-Consumer	Total Streaming Revenue	$2.17 billion
Direct-to-Consumer	Paramount+ Subscribers (Global)	79.1 million
Direct-to-Consumer	Paramount+ ARPU	$8.40
Linear TV Media	Total TV Media Revenue	$3.8 billion
Linear TV Media	Affiliate and Subscription Revenue	$1.74 billion
Filmed Entertainment	Total Segment Revenue	$768 million

The company ended Q3 2025 with $3.3 billion in cash and $13.6 billion in debt.

Paramount Global (PARA) - Canvas Business Model: Customer Segments

You're looking at the core audience groups Paramount Global (PARA) serves as of late 2025, post-Skydance merger. It's a mix of legacy media consumers and the new digital-first crowd, and the numbers show where the focus is shifting.

The streaming audience is the clear growth engine. By the third quarter of 2025, Paramount Global had reached 79.1 million global streaming subscribers across its platforms, primarily Paramount+. This represented a net addition of 1.4 million subscribers during that quarter alone. Still, the direct-to-consumer (DTC) division saw its revenue climb 17% year-over-year in Q3 2025 to $2.17 billion. The average revenue per user (ARPU) for the streaming service settled around $8.40 in Q3 2025. Honestly, the company expects this DTC business to be profitable in 2025. This focus is driving strategy, with plans to raise Paramount+ prices in the US starting January 15, 2026, with the ad-supported Essential plan moving to $8.99 monthly and the ad-free Premium plan to $13.99 monthly.

The traditional pay-TV segment, while shrinking, still provides significant, though declining, revenue. This group consists of those paying affiliate fees via cable and satellite bundles for carriage of networks like CBS, MTV, and Nickelodeon. Affiliate and subscription revenue for the TV Media segment in Q3 2025 was $1.74 billion, marking a 7% decline year-over-year. This decline reflects industry-wide cord-cutting and Paramount's stated strategy of reducing low-return bundles.

Global advertisers are a crucial segment, split between the legacy linear footprint and the growing digital inventory. Linear TV advertising revenue in Q3 2025 was $1.47 billion, down 12% from the prior year. However, digital reach is being quantified like never before. Paramount Global executives noted that streaming accounted for 30% of upfront sales in the latest cycle. The company is using tools like Mastercard Media Measurement to prove value, analyzing 13 billion impressions, which helped drive $1 billion in incremental advertising revenue and showed a 3.5% average spend lift for participating advertisers.

Theatrical moviegoers remain a key segment, though the studio is recalibrating its approach. The Filmed Entertainment segment generated $768 million in revenue in Q3 2025, a 4% drop from the year prior, as the 2025 slate underperformed expectations. Major releases like Mission: Impossible - The Final Reckoning provided a boost in Q2 2025, where theatrical revenue jumped 84%. Looking ahead, Paramount plans to increase its theatrical output to at least 15 films annually starting in 2026.

Finally, content buyers represent an important, though less emphasized, segment for monetization. This includes third parties acquiring licensing rights for Paramount's film and television programming. Overall content licensing revenue for Q2 2025 was $690 million, showing a 2% increase year-over-year. For the full year 2024, licensing and other revenues totaled $4.952 billion.

Here's a quick look at the key revenue drivers for these segments in Q3 2025, where available:

Customer Segment Proxy	Metric	Value (Q3 2025)	Year-over-Year Change
Global Streaming Subscribers	Paramount+ Subscribers (Global)	79.1 million	Up 14%
Global Streaming Subscribers	Streaming Revenue	$2.17 billion	Up 17%
Traditional Pay-TV/Linear	TV Affiliate Revenue	$1.74 billion	Down 7%
Traditional Pay-TV/Linear	TV Advertising Revenue	$1.47 billion	Down 12%
Global Advertisers (Linear)	Core Linear TV Ad Revenues (Forecast 2025)	$55.2 billion	Slipping 7%
Theatrical Moviegoers	Filmed Entertainment Revenue	$768 million	Down 4%
Content Buyers (Licensing)	Content Licensing Revenue (Q2 2025)	$690 million	Up 2%

If you're tracking the shift, streaming subscription revenue was up 22% in Q2 2025, while linear advertising was down 4% in the same period. Finance: draft 13-week cash view by Friday.

Paramount Global (PARA) - Canvas Business Model: Cost Structure

Content production and acquisition costs remain the largest expense category, evidenced by the expectation of adj. OIBDA losses in Q4 2025 for the Direct-to-Consumer (DTC) segment due to seasonally-weighted content costs. Paramount Skydance Corporation plans for more than $\$1.5$ billion in incremental programming investment in 2026, covering UFC, originals, third-party catalog licensing, and ramping up the film slate.

Technology and distribution costs are embedded within the scaling of the global streaming platform, which is the company's "North Star" business. The DTC division generated $\$2.17$ billion in revenue in Q3 2025.

Restructuring charges are a significant, near-term cost. Paramount expects to recognize a restructuring charge of approximately $\$500$ million in Q4 2025 as part of its realignment and transformation. The company also anticipates transformation costs of several hundred million in Q4 2025.

The broader cost-cutting effort is substantial, targeting long-term efficiency:

Cost Initiative/Target	Amount/Metric	Timeline/Period
Total Cost-Savings Initiative Target	$\$3$ billion	By 2027
Run-Rate Savings Executed	More than $\$1.4$ billion	Between August 2025 and end of 2025
Additional Run-Rate Actions Planned	$\$1$ billion plus	For 2026
Global Workforce Reduction Target	$15\%$	Global

Linear TV network operating expenses and affiliate fee payments are under pressure as the business pivots away from linear. For Q3 2025, the TV Media segment saw advertising revenue fall $12\%$ year-over-year to $\$1.47$ billion. In Q4 2024, affiliate and subscription revenues reflected declines of approximately $3\%$ from linear affiliate fees.

Sales, General and Administrative (SG&A) expenses are subject to efficiency cuts, following prior reductions. For the three months ended March 31, 2025, SG&A expenses were $\$1,543$ million, which was a $7\%$ decrease from $\$1,662$ million in the same period of 2024. This decrease reflected lower compensation costs following a 2024 restructuring and lower marketing costs.

Key SG&A components include:

• Costs incurred for advertising and marketing for linear networks and streaming services.
• Research, occupancy, and professional service fees.
• Back office support, including employee compensation and technology.

Paramount Global (PARA) - Canvas Business Model: Revenue Streams

You're looking at the engine room of Paramount Global (PARA) post-Skydance merger, specifically how the cash flows in as of late 2025. It's a story of digital strength battling linear decline, but the numbers tell you exactly where the focus is.

DTC Subscription Revenue: Paramount+ subscription fees is the clear growth driver now. For the third quarter of 2025, the entire Direct-to-Consumer (DTC) division, which houses Paramount+ and Pluto TV, brought in $2.17 billion, marking a 17% year-over-year increase. Honestly, Paramount+ itself accounts for over 80% of that total DTC revenue. The company expects its DTC streaming business to achieve full-year profitability in 2025.

Advertising Revenue is split between the legacy linear TV business and the digital platforms. Linear TV advertising revenue specifically saw a 12% year-over-year decline, landing at $1.47 billion for Q3 2025. This drop was attributed partly to an unfavorable comparison against strong political advertising in the third quarter of 2024. On the digital side, DTC advertising revenue slipped 6% to $479 million.

Affiliate and Subscription Fees, which primarily come from the traditional TV Media segment (cable and satellite providers), are feeling the ecosystem pressure. This revenue stream declined 7% year-over-year, totaling $1.74 billion in Q3 2025. Cord-cutting definitely contributes to this headwind, as you'd expect.

Content Licensing revenue, which falls under the TV Media segment's Licensing and Other category, saw a significant drop in Q3 2025. One report noted a 22% decline due to the timing of content delivery. This is a tricky area where timing of deals really moves the needle quarter-to-quarter.

Theatrical Revenue is captured within the broader Filmed Entertainment segment. For Q3 2025, revenue from this segment, which includes Paramount Pictures film releases, was $768 million, down 4% from the prior year. The company acknowledged its 2025 theatrical slate underperformed expectations but plans to ramp up output to at least 15 films annually starting in 2026.

Here's a quick math snapshot of the key Q3 2025 revenue components we just discussed:

Revenue Stream Component	Q3 2025 Reported Amount	Year-over-Year Change
Total DTC Revenue	$2.17 billion	+17%
Paramount+ Revenue (within DTC)	$1.77 billion	+23%
TV Media Advertising Revenue	$1.47 billion	-12%
TV Media Affiliate & Subscription Fees	$1.74 billion	-7%
Filmed Entertainment Revenue (incl. Theatrical)	$768 million	-4%

The strategic shift is clear when you look at the growth rates. The company is definitely prioritizing the DTC side, which is showing double-digit growth, while the traditional linear businesses face structural declines. You can see the focus in their subscriber metrics, too:

• Paramount+ ended September with 79.1 million subscribers worldwide.
• Subscriber count increased by 1.4 million during the quarter.
• Average Revenue Per User (ARPU) for DTC grew 11% to approximately $8.40.

Finance: draft 13-week cash view by Friday.