Paramount Global Forecasts Financial Growth Amid Challenges, Expects Advertising Growth in Q1, Added 4.1M Subscribers in 4Q, Faces $1B Charge
Paramount Global is facing financial challenges as it predicts a growth in free cash flow for 2024 despite increased production costs. The company expects advertising growth in Q1 and added 4.1 million subscribers to Paramount+ in the 4th quarter. However, they anticipate lower subscriber growth in 2024. Paramount is set to take a $1 billion charge in Q1 for layoffs and restructuring. CEO Bob Bakish doubts the ideal appeal of the new Fox-Disney-WBD sports app for true sports fans due to missing sports content.
Sources
Barrett Media
Paramount CEO Bob Bakish on the ESPN-FOX-WBD streamer: "It’s missing half the NFL, a lot of college [and] has virtually no soccer [or] golf... it’s hard to believe that’s ideal [for sports fans]." Will "Spulu" be a good deal for sports fans?
Digital Trends #Paramount CEO Bob Bakish doesn't appear to be threatened by the upcoming #sports #streaming service led by three competitors. https://t.co/tk7cYhNDia
Awful Announcing Paramount CEO makes the case for ESPN-Fox-WBD streaming venture https://t.co/SgpxM2LyUz https://t.co/kV1etLjfDa
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