However, in brighter news for the company the company, its flagship streaming service, Paramount+, added 5.6 million subscribers during the quarter, its biggest addition in two years, buoyed by new shows such as The Agency, Landman (pictured) and Lioness.
Co-CEOs – George Cheeks, Brian Robbins and Chris McCarthy – said in a joint statement: “We are proud of the transformative year we delivered since becoming Co-CEOs, which marks a significant turning point for Paramount as we shift into a streaming-first company. DTC profitability improved $1.2 billion in 2024, driven by an impressive year at Paramount+, where we added 10 million new subscribers and delivered a 33 per cent increase in revenue, which gives us great confidence Paramount+ will achieve full year domestic profitability for 2025. In Q4, Paramount+ saw the highest level of engagement yet and achieved a new record, ranking as the #2 domestic SVoD service for hours watched across all Original Series. These remarkable achievements would not have been possible without the hard work of our talented teams and creative partners for whom we are deeply appreciative.”