Slide 1: Paramount Reports Q2 2024 Earnings Results
EARNINGS PRESS RELEASE | August 8, 2024 PARAMOUNT REPORTS Q2 2024 EARNINGS RESULTS « Direct-To-Consumer Adjusted OIBDA Improved $450 Million Year-Over-Year to $26 Million « Paramount+ Increased Revenue 46% Year-Over-Year « Company Advances Strategic Plan, Including $500 Million in Annualized Cost Sa
Slide 2: Q2 2024 Earnings – Direct-to-Consumer
Q2 2024 EARNINGS – SEGMENTS DIRECT-TO-CONSUMER OVERVIEW Year to date, Paramount+ leads the industry in domestic sign-ups for the fourth year in a row, driven by hit content like Knuckles from our Sonic the Hedgehog franchise — which broke the global record for the most- streamed original series on P
Slide 3: Q2 2024 Earnings – TV Media
Q2 2024 EARNINGS – SEGMENTS TV MEDIA OVERVIEW CBS finished the 2023-2024 season #1 in primetime for the 16th year in a row, including 8 of the top 10 broadcast series. Additionally, on May 23, 2024, Paramount and Charter Communications announced a new multi- year agreement for distribution of Paramo
Slide 4: Q2 2024 Earnings – Filmed Entertainment
Q2 2024 EARNINGS – SEGMENTS FILMED ENTERTAINMENT OVERVIEW Filmed Entertainment continued to deliver strong results at the box office, with IF debuting at #1 domestically and A Quiet Place: Day One recording a franchise best performance, grossing over $250 million at the global box office to date. Q2
Slide 5: Skydance Transactions
Q2 2024 EARNINGS – SKYDANCE TRANSACTIONS SKYDANCE TRANSACTIONS As previously announced, on July 7, 2024, Paramount Global (“Paramount”), Skydance Media (“Skydance”) and other parties entered into a definitive transaction agreement (the “Transaction Agreement”) to form “New Paramount,” through a two-
Slide 6: About Paramount
ABOUT PARAMOUNT Paramount (NASDAQ: PARA; PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET
Slide 7: Contacts
CONTACTS PRESS Justin Dini Executive Vice President Head of Communications (212) 846-2724 justin.dini@paramount.com Allison McLarty Senior Vice President Corporate Communications (323) 376-7903 allison.mclarty@paramount.com INVESTORS Jaime Morris Executive Vice President Investor Relations (646) 824
Slide 8: Consolidated Statements of Operations
Q2 2024 EARNINGS – FINANCIAL STATEMENTS PARAMOUNT GLOBAL AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited; in millions, except per share amounts) Three Months Ended June 30 Six Months Ended June 30 2024 2023 2024 2023 Revenues $ 6,813 $ 7,616 $ 14,498 $ 14,881 Costs and expenses: Op
Slide 9: Consolidated Balance Sheets
Q2 2024 EARNINGS – FINANCIAL STATEMENTS PARAMOUNT GLOBAL AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited; in millions, except per share amounts) At At June 30, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 2,315 $ 2,460 Receivables, net 6,545 7,115 Programming and
Slide 10: Consolidated Statements of Cash Flows
Q2 2024 EARNINGS – FINANCIAL STATEMENTS PARAMOUNT GLOBAL AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited; in millions) Six Months Ended June 30 2024 2023 Operating Activities: Net loss (Paramount and noncontrolling interests) $ (5,948) $ (1,402) Less: Net earnings from discontinued
Slide 11: Supplemental Disclosures Regarding Non-GAAP Financial Measures
Q2 2024 EARNINGS – Supplemental Disclosures SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES (Unaudited; in millions, except per share amounts) Results for the three and six months ended June 30, 2024 and 2023 included certain items identified as affecting comparability. Adjusted opera
Slide 12: Non-GAAP Financial Measures (Continued)
Q2 2024 EARNINGS – Supplemental Disclosures SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES (Continued) (Unaudited; in millions, except per share amounts) Three Months Ended June 30, 2024 Net Earnings (Loss) Earnings (Loss) from Continuing from Continuing Benefit from Operations Dilut
Slide 13: Non-GAAP Financial Measures (Continued)
Q2 2024 EARNINGS – Supplemental Disclosures SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES (Continued) (Unaudited; in millions, except per share amounts) Six Months Ended June 30, 2024 Net Earnings Earnings (Loss) (Loss) from from Continuing Continuing Operations Benefit from Operati
Slide 14: Non-GAAP Financial Measures (Continued)
Q2 2024 EARNINGS – Supplemental Disclosures SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES (Continued) (Unaudited; in millions, except per share amounts) Six Months Ended June 30, 2023 Net Earnings Earnings (Loss) (Loss) from from Continuing Continuing Operations Benefit from Operati
Slide 15: Non-GAAP Financial Measures: Free Cash Flow
Q2 2024 EARNINGS – Supplemental Disclosures SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES (Continued) (Unaudited; in millions) Free Cash Flow Free cash flow is a non-GAAP financial measure. Free cash flow reflects our net cash flow provided by (used for) operating activities from co