While speaking to the Deutsche Bank Media, Internet and Telecom Conference remotely this week, Paramount Global CFO Naveen Chopra signaled that the company could spend less than the $6 billion it initially forecast for 2024.
Chopra touted the company's success in the streaming marketplace, claiming that Parmaount has added more overall subscribers "on an absolute basis" during its first two years than any other major streamer.
- Chopra referred to Paramount's 2023 movie lineup as a "killer slate" that would improve on the company's strong 2022 performance, highlighting new entries in the "Mission: Impossible," "Transformers," "Teenage Mutant Ninja Turtles," and "Paw Patrol" franchises.
- He said Paramount management is now focused on "the path to profitability" in streaming, and noted that 2023 will be the company's peak year for streaming investment.
- When asked about the upcoming integration of Paramount+ and Showtime, Chopra promised to "reinvigorate the Showtime content slate" by expanding popular franchises like "Dexter," "Billions," and "Yellowjackets."
