Paramount Shares Plummet as Q1 Streaming Loss Grows, Dividend Slashed

Lance Bass and his husband, Michael Turchin, are learning for themselves that the «terrible twos» don't start when children turn 2. Their twins -- Violet and Alexander — are already exhibiting «terror»-like behavior, albeit «cute terror.»ET's Brice Sander spoke with Bass and Turchin on Thursday night at the 5th annual Vanderpump Dog Foundation Gala at the Maybourne Hotel in Beverly Hills, and the couple opened up about the best part of being parents to twins, who in just a matter of months will turn 2.«Apparently my mom says they already started,» said Bass about the twins, whom the couple welcomed in October 2021 via surrogate.

To paraphrase Neil Young, Bob Chapek is gone from Disney but not forgotten.

Rebel Wilson is celebrating Mother’s Day with her two favourite girls by her side.

Rebel Wilson is celebrating Mother's Day with her two favorite girls by her side.Wilson took to Instagram to give fans a rare look at her 5-month-old daughter, Royce, in a new post celebrating her first Mother's Day as a mom. The first of the three adorable photos sees Wilson and her partner, Ramona Agruma, posing with baby Royce, who is sporting a bunny ears beanie on her head. The newborn is all smiles as she sits on mom's lap in a pink sweater and knit gray pants.

The Walt Disney Co. reduced losses in its streaming business by 26% (about $200 million) in its fiscal second quarter as the company’s overall results matched Wall Street expectations.

Jennifer Maas TV Business Writer Disney+ shed another 4 million subscribers in the first three months of 2023, marking the Disney-owned streamer’s second consecutive quarterly drop after closing 2022 with its first-ever decline. On the bright side, the Mouse House also managed to narrow its streaming business losses by $400 million, down 26% year over year. On Wednesday, CEO Bob Iger and Co. beat Wall Street estimates for Disney’s quarterly earnings and revenue due to an impressive Jan.-March showing at the company’s theme parks. That win comes during a fiscal Q2, which concluded April 1, plagued by companywide layoffs, a looming (and now active) writers strike, and a turf war with Florida Gov. Rick DeSantis.

As the official rollout of “Paramount+ with Showtime approaches, the Paramount Global platform unveiled a unified Paramount Streaming Data & Marketing Group led by Domenic DiMeglio, EVP and chief marketing officer, Paramount Streaming.

Paramount+ with Showtime. The major media company has announced three executives in key positions of its streaming division: Domenic DiMeglio, Michael Engleman and Puja Vohra.The company said Monday it will be combining its marketing and data teams. This new division will now be titled the Paramount Streaming Data and Marketing Group and will be led by Domenic DiMeglio.

Joe Otterson TV Reporter Paramount’s Streaming Data & Marketing Group is making two high-profile changes under Domenic DiMeglio, the executive vice president and chief marketing officer of Paramount Streaming. Firstly, Michael Engelman has been named chief marketing officer of Paramount+ Domestic and Showtime. In that role, he will oversee consumer marketing, strategy, partnerships, lifecycle marketing, customer care, and social and creative execution for all U.S. campaigns. He will be based in Los Angeles. Secondly, Puja Vohra has been named executive vice president of consumer marketing for Paramount+ and Showtime. She will oversee brand, media, and program marketing for Paramount+ and Showtime and will be based in New York.

Taking the mic for the second time in a week, Paramount Global CEO Bob Bakish explained why the company slashed its dividend and talked streaming, advertising and weathering a WGA strike.

Well, “Yellowstone” fans, the rumors are true: Taylor Sheridan‘s hit show will end at the end of the second half of Season 5, which will premiere on Paramount Network in November. But fans of the series won’t need to wait long for the show’s story to continue.

Well, “Yellowstone” fans, the rumors are true: Taylor Sheridan‘s hit show will end at the end of the second half of Season 5, which will premiere on Paramount Network in November. But fans of the series won’t need to wait long for the show’s story to continue.

With “Yellowstone” and its many spinoffs, Taylor Sheridan is one of the buzziest filmmakers in Hollywood right now. So buzzy, in fact, that Zoe Saldaña balked at Sheridan’s proposition for her to star in his upcoming series “Special Ops: Lioness.” That’s not something to expect from an actress who stars in some of the world’s most lucractive blockbusters.

performance, competitive pressures remain intense and Paramount does not have the library/franchise depth that Disney and Warner enjoy.”In addition to the dividend cut, Paramount missed Wall Street earnings expectations after reporting an overall $1.1 billion loss, adjusted earnings per share of 9 cents and revenue of $7.3 billion. Analysts were expecting earnings per share of 12 cents on revenue of $7.42 billion.

In a dividend shocker this morning, Paramout Global said it’s slashing quarterly payouts to 5 cents, so 20 cents, annually — a major drop from about 24 cents a quarter or nearly a buck a year. It said the move would save it $500 million annually and that it’s important to conserve cash and pay down debt given strong macroeconmic headwinds.

Paramount Global fell way shy of Wall Street forecasts with ongoing losses in streaming exacerbated by soft advertising at its TV/Media group last quarter and a dip in filmed entertainment as well. The stock is down sharply — about 14% — in early trading

integration of Showtime into Paramount+ will officially launch in the third quarter, the company confirmed. The combination, which is expected to generate approximately $700 million in future annual expense savings, resulted in a programming charge of $1.7 billion during the first quarter. As part of the move, the company is raising its prices for Paramount+ subscriptions.

Brian Steinberg Senior TV Editor Paramount Global said it would it cut its dividend as continued investment in streaming weighed on the company while it saw declines in its traditional revenue from advertising and cable distribution. The owner of CBS, Nickelodeon and the Paramount movie studio said its first-quarter loss came to nearly $1.23 billion, or $1.81 a share, compared with a profit of $775 million, or 58 cents a share, in the year-earlier quarter. Revenue was essentially flat, down 1%, on shortfalls in its TV media and filmed entertainment units, while its streaming operations saw revenue rise 39%. “We are focused on continuing to drive market-leading streaming growth while navigating a dynamic macroeconomic environment,” said Bob Bakish, the company’s chairman and CEO, in a statement.

Naman Ramachandran Revenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, slid 9% to €1.4 billion ($1.5 billion) for the first quarter of 2023, financial results released on Thursday have revealed. The group attributes this to “significantly lower TV advertising revenue,” particularly in Germany, and the disposals of RTL Belgium and RTL Croatia. Fremantle’s revenues were down 5.6% to €435 million (Q1/2022: €461 million), mainly due to timing effects of production deliveries, the group said. The group’s total advertising revenue fell to €700 million (Q1/2022: €829 million), of which €545 million represented TV advertising revenue (Q1/2022: €653 million), €76 million digital advertising revenue (Q1/2022: €83 million) and €39 million radio advertising revenue (Q1/2022: €46 million). Distribution revenue was down by 1.8% to €107 million (Q1/2022: €109 million).

THEWRAP: The whole cast always looked like you were all having so much fun.Wendi McLendon-Covey: There are times when I got the church giggles so badly. You know, sometimes people ask, how do you keep a straight face? I can’t. Sometimes I’m the worst when it comes to breaking, but that just makes you more and more happy to be at work, you know?It’s been very sweet watching Sean Giambrone (Adam) grow up through the years. How was that for you playing his mother and seeing him growing into an adult? Did you have like a maternal connection?McLendon-Covey: Oh yeah.