Slide 1: Paramount Reports Q1 2024 Earnings Results
EARNINGS PRESS RELEASE | April 29, 2024 PARAMOUNT REPORTS Q1 2024 EARNINGS RESULTS « Paramount+ Increased Revenue 51% Year-Over-Year and Reached More Than 71 Million Global Subscribers « Direct-To-Consumer Adjusted OIBDA Improved Year-Over-Year for the 4th Consecutive Quarter « Total Advertising Rev
Slide 2: Q1 2024 Earnings – Direct-to-Consumer
Q1 2024 EARNINGS – SEGMENTS DIRECT-TO-CONSUMER OVERVIEW DTC Adjusted OIBDA improved year-over-year driven by a continued focus on engagement, revenue and operating leverage. Q1 FINANCIALS ▪ Revenue increased 24% year-over-year. – Subscription revenue grew 22%, driven by subscriber growth and pricing
Slide 3: Q1 2024 Earnings – TV Media
Q1 2024 EARNINGS – SEGMENTS TV MEDIA OVERVIEW TV Media revenue and earnings in the quarter benefited from the most watched Super Bowl of all time. Notably, CBS is poised to claim the #1 spot in broadcast for the 16th straight season and is home to the top three new series on broadcast in Tracker, El
Slide 4: Q1 2024 Earnings – Filmed Entertainment
Q1 2024 EARNINGS – SEGMENTS FILMED ENTERTAINMENT OVERVIEW Filmed Entertainment generated significant revenue in the quarter with Mean Girls and Bob Marley: One Love each debuting #1 at the domestic box office and together generating over $275 million at the global box office to date. Q1 FINANCIALS ▪
Slide 5: 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 6: 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 (630) 247-2332 allison.mclarty@paramount.com INVESTORS Jaime Morris Executive Vice President Investor Relations (646) 824
Slide 7: Consolidated Statements of Operations
Q1 2024 EARNINGS – FINANCIAL STATEMENTS PARAMOUNT GLOBAL AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited; in millions, except per share amounts) Three Months Ended March 31 2024 2023 Revenues $ 7,685 $ 7,265 Costs and expenses: Operating 5,036 4,964 Programming charges 1,118 1,674
Slide 8: Consolidated Balance Sheets
Q1 2024 EARNINGS – FINANCIAL STATEMENTS PARAMOUNT GLOBAL AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited; in millions, except per share amounts) At At March 31, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 2,384 $ 2,460 Receivables, net 7,096 7,115 Programming an
Slide 9: Consolidated Statements of Cash Flows
Q1 2024 EARNINGS – FINANCIAL STATEMENTS PARAMOUNT GLOBAL AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited; in millions) Three Months Ended March 31 2024 2023 Operating Activities: Net loss (Paramount and noncontrolling interests) $ (544) $ (1,112) Less: Net earnings from discontinue
Slide 10: Supplemental Disclosures Regarding Non-GAAP Financial Measures
Q1 2024 EARNINGS – Supplemental Disclosures SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES (Unaudited; in millions, except per share amounts) Results for the three months ended March 31, 2024 and 2023 included certain items identified as affecting comparability. Adjusted operating in
Slide 11: Supplemental Disclosures Regarding Non-GAAP Financial Measures (Continued)
Q1 2024 EARNINGS – Supplemental Disclosures SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES (Continued) (Unaudited; in millions, except per share amounts) Three Months Ended March 31, 2024 Net Earnings Earnings (Loss) (Loss) from from Continuing Continuing Operations Benefit from Oper
Slide 12: Supplemental Disclosures: Free Cash Flow
Q1 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