Paramount has reported first-quarter financial results that surpassed market expectations, as the company enters the final stages of its massive planned merger with Warner Bros. Discovery (WBD).
The media giant recorded $7.3 billion in revenue, a 2% year-over-year increase, and reaffirmed its full-year guidance of $30 billion in revenue with $3.8 billion in adjusted EBITDA. This financial strength is largely driven by a resurgent Direct-to-Consumer segment, where Paramount+ saw revenue climb by 17% to reach $2.4 billion, adding 1.9 million new subscribers during the quarter.
The company’s content slate continues to set records, with Taylor Sheridan’s Landman becoming the most-watched series in Paramount+ history, while The Madison and Marshals attracted 12.5 million and 18.5 million global viewers respectively. On the big screen, Scream 7 reached a franchise-high in box office earnings, while CBS maintained its primetime dominance by holding 13 of the top 20 series in the US, a level of broadcast performance not seen since the early 1990s.
As Paramount moves toward closing the WBD acquisition by the end of Q3 2026, it is also prioritizing efficiency and innovation, remaining on track to deliver $3 billion in cost savings by 2027 and preparing to launch a unified, cross-service technology platform mid-year to enhance user personalization.
