Christopher Mccarthy on DTC profitability
From $PARA Paramount Global Q4 2024 Earnings Conference Call · · EARNMOAR
“Taken together, DTC generated significant improvement in profitability of $1.2 billion for the year which gives us great confidence Paramount Plus will achieve domestic profitability for 2025.”
On , Christopher Mccarthy, Co-Chief Executive Officer at Paramount Global, spoke about DTC profitability during $PARA Paramount Global Q4 2024 Earnings Conference Call on EARNMOAR.
About Christopher Mccarthy
Christopher McCarthy, co-chief executive officer of Paramount Global, said on the company’s Q4 2024 earnings call that the company added 5.6 million new subscribers in the quarter, the strongest quarter in two years, and 10 million for the full year. He stated that global watch time per user improved 20% in Q4 and that churn improved by over 100 basis points year-over-year. McCarthy noted that total company adjusted operating income returned to growth, up 30% year-over-year to $3.1 billion, and that free cash flow reached $489 million, the highest in four years. He said the company is “making the successful transformation into a streaming‑first company” and expressed confidence that Paramount Plus will achieve domestic profitability in 2025. In earlier interviews, McCarthy described the company’s strategy as focused on creating “mass commercial hits” and franchising its intellectual property to fuel Paramount Plus growth. He said the winner of the streaming wars “is not going to be the one that spends the most money but the one that makes the mass commercial hits” and that the company is “laser focused on making the big hits and turning them into franchises.” He also noted that Paramount Global was leveraging its linear television base, where “over 70% of all TV minutes are spent on linear,” to launch new series and accelerate its streaming service.