NEW YORK—As Paramount Global wrestled with management turmoil and ongoing negotiations for a proposed merger with Skydance, the company managed to report improved financials for its money-losing direct-to-consumer streaming segment in Q1 2024 earnings statement.
The Q1 2024 earnings showed Paramount+ adding 3.7 million subscribers in the quarter as the streaming service hit 71 million subs and Paramount+ global ARPU expanded 26% year-over-year. Paramount+ revenue grew 51%, reflecting subscriber and ARPU growth.
