Paramount Global Delivers Strong Q1 Performance Amid Dynamic Macro Environment
Paramount Global, a leading media and entertainment company, has reported strong first-quarter (Q1) 2025 results, with total company revenue growing 2% year-over-year, excluding the Super Bowl. The company's digital transformation strategy, focused on driving profitable growth through high-performing content, has yielded impressive results across various segments.
The Q1 performance was highlighted by Paramount+, the company's streaming service, which ended the quarter with 79 million global subscribers, a significant increase of 11% year-over-year. This growth was driven by the platform's differentiated content strategy, featuring fewer but bigger breakthrough original series. Notably, Landman and 1923, two of these series, were the #1 and #2 starts on Paramount+, respectively.
Paramount+ revenue increased 16% year-over-year, with global watch time per user up 17% year-over-year and churn improved by 130 basis points year-over-year. The success of Paramount+ was also evident in its performance against competitors, with the platform accounting for 25% of the top 10 SVOD originals in Q4 and Q1 combined.
The company's premium tier on Paramount+, which features exclusive content from Showtime, also saw significant growth, with Dexter: Original Sin being the most streamed Showtime series ever, followed by Yellowjackets. Internationally, the platform has continued to deliver strong results, driven by a slate of popular series including South Park and Yellowstone.
The latter, in particular, has been a major driver of engagement, with the series remaining the #1 start driver and the #1 engagement driver for Paramount Global internationally. The company plans to expand the franchise with three new series, starting with The Dutton Ranch, which will premiere globally in Q4 2025.
Paramount Global's Q1 performance demonstrates its ability to adapt to a dynamic macro environment while maintaining a strong focus on content-driven growth. The company's strategy of prioritizing key investments and streamlining non-content expenses has enabled it to navigate uncertainty and drive profitability. As the media and entertainment landscape continues to evolve, Paramount Global's commitment to innovation and high-quality content positions the company for continued success in the future.
