Paramount To Lay Off 15% Of US Workforce As Streaming Generates Its First-Ever Profit | AdExchanger
Briefly

from AdExchanger5 months ago
On Thursday, Paramount announced that it's writing down its cable TV business by $6 billion and laying off 15% of its US workforce as part of cost-cutting measures in advance of its planned merger with Skydance Media. The layoffs, which include cuts to marketing and communications roles, will take place in the coming weeks.
AdExchangerhttps://www.adexchanger.com/streaming/paramount-to-lay-off-15-of-us-workforce-as-streaming-generates-its-first-ever-profit/
Streaming is finally profitable - Paramount's direct-to-consumer business, including Paramount+, Pluto TV, and BET+, generated $26 million in profit in Q2, up 13%, after a year-ago quarter loss of $424 million. Streaming ad revenue grew 16% in Q2.
AdExchangerhttps://www.adexchanger.com/streaming/paramount-to-lay-off-15-of-us-workforce-as-streaming-generates-its-first-ever-profit/
The return of live sports, new fall programs, and political spending are expected to boost linear inventory in the second half of the year, compensating for the decline in advertising in Q2.
AdExchangerhttps://www.adexchanger.com/streaming/paramount-to-lay-off-15-of-us-workforce-as-streaming-generates-its-first-ever-profit/
Read at AdExchanger
#paramount #streaming-business #layoffs #advertising-trends #linear-inventory
[
|
]