Paramount Preps for Long Writers Strike, Takes Streaming Loss

Paramount+ added 4.1 million subscribers, but DTC lost $511 million

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Even though Paramount+ broke 60 million subscribers, it wasn’t enough to stop the parent company’s stock from tumbling 25% Thursday morning.

Paramount slashed its dividend from 24 cents to 5 cents per share—the first time the company reduced its dividend since 2009—and hopes to save $500 million from the cut.

CEO Bob Bakish reaffirmed during the company’s quarterly earnings call Thursday morning that this year will represent peak losses for its streaming business. Revenue for Paramount+ and Pluto TV rose 39% year-over-year to $1.5



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