Paramount released its Q2 2025 earnings report Thursday, along with comments from Non-Executive Chair Shari Redstone and Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins.
The report showed that Paramount+ reached 77.7 million subscribers, a decrease of 1.3 million for the quarter. Paramount cited “the expiration of an international hard bundle deal” as the reason for the drop.
Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins said: “Our goal when we became co-CEOs was to transform Paramount into a streaming first company and today we are substantially better positioned with streaming revenue growth outpacing linear declines, driven by exceptional performance at Paramount+. We saw the largest viewership growth among all subscription services in the US, up 26% vs. the first half of 2024, driven by continued strong content at Paramount+ where we again had the most Top 10 SVOD Originals, behind only the market leader, and churn achieved a record low. CBS content drove nearly half of all viewing on Paramount+ and ranked as the most watched broadcast network for the 17th consecutive season. These impressive results are thanks to our talented teams and creative partners for whom we are very grateful for their continued creativity, dedication and hard work.”
This is the last earnings report from the company ahead of a merger with Skydance. Last week, Paramount and Skydance got FCC approval for the merger, an $8 billion deal that has hit many obstacles since first being announced.
In her comments included in today’s report, Non-Executive Chair Shari Redstone thanked the team and said that she’s proud of the business.
“Over many years, Paramount established itself as an enduring industry leader in media, news, and entertainment,” said Redstone. “Despite an increasingly challenging environment, the talented co-CEOs and teams across the Company have continued to strengthen and grow the business. As a testament to their success and driven by the power of exceptional content, we have seen the impressive growth of Paramount+, the ongoing leadership of CBS, and the continued stream of franchise growth at Paramount Pictures. At the same time, substantial progress has been made in streamlining the Company’s cost structure. I am proud that when the Skydance transactions close we will be turning over a healthy business with a strong foundation for long-term growth and value creation. I will be forever grateful to the people of the Company and the shareholders who have supported us.”
The anticipated closing date of the merger is August 7, 2025.
