Paramount Global Stock

Paramount Global operates as a global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide.

The company’s portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. The company holds one of the industry’s most extensive libraries of television and film titles. In addition to offering innovative streaming services and digital video products, the company provide powerful capabilities in production, distribution and advertising solutions.

The company’s strategy is grounded in three key strengths: its broad range of popular content; its multiplatform distribution model; and its global operating reach. In 2022, the company demonstrated the continued breadth and depth of its content capabilities across its distribution platforms — broadcast, including the leading network in the United States (the ‘U.S.’), CBS; a portfolio of cable networks that includes Nickelodeon, MTV and BET; a rapidly growing subscription streaming service, Paramount+; a leading free advertising-supported streaming television (‘FAST’) service in the U.S., Pluto TV; and an iconic Hollywood studio, Paramount Pictures. The company’s global operating footprint includes content production capabilities across Latin America, the United Kingdom (the ‘U.K.’), Europe, the Middle East, Africa and Asia Pacific, cable networks in many key markets and deep commercial relationships with strategic partners around the world.

The company’s portfolio of cable networks attracted audiences through a broad range of shows, including the most watched original series in the U.S. across all of television, Yellowstone, and one of the world’s most popular preschool series, PAW Patrol. In 2022, adult cable series on the company’s cable networks accounted for three of the top five and five of the top ten series among adults 18 to 34.

In 2022, the company focused on expanding its global footprint and building key distribution partnerships with industry leaders, including Sky, CANAL+ and Virgin Media. The company launched Paramount+ in South Korea, the U.K., Ireland, Italy, France, Germany, Switzerland and Austria, and in the U.S., launched a first-of-its-kind partnership with Walmart to offer Paramount+ Essential to Walmart+ members. SkyShowtime, the company’s streaming joint venture with Comcast, launched in Denmark, Finland, Norway and Sweden (the ‘Nordics’). Finally, the company launched Pluto TV in Canada with Corus and in the Nordics with Viaplay Group.

The company operate through the following segments:

TV Media: The company’s TV Media segment consists of the company’s domestic and international broadcast networks and owned television stations; domestic and international extensions of the company’s cable networks; and domestic and international television studio operations, and production and distribution of first-run syndicated programming.

Direct-to-Consumer: The company’s Direct-to-Consumer segment consists of the company’s portfolio of domestic and international pay and free streaming services.

Filmed Entertainment: The company’s Filmed Entertainment segment consists of the company’s production and acquisition of films, series and short-form content for release and licensing in media around the world, including in theaters, on streaming services, on television, and through digital home entertainment and DVDs.

TV Media

The company’s TV Media segment consists of the company’s broadcast operations — the CBS Television Network, the company’s domestic broadcast television network; CBS Stations, the company’s owned television stations; and the company’s international free-to-air networks, Network 10, Channel 5, Telefe and Chilevisión; domestic premium and basic cable networks, including Paramount Media Networks, Nickelodeon, BET Media Group and CBS Sports Network, and international extensions of certain of these brands; and domestic and international television studio operations, including CBS Studios, Paramount Television Studios and MTV Entertainment Studios, as well as CBS Media Ventures, which produces and distributes first-run syndicated programming. TV Media also includes a number of digital properties, such as CBS News Streaming for 24-hour news and CBS Sports HQ for sports news and analysis.

TV Media’s revenues are generated principally from advertising; affiliate and subscription revenues principally comprised of fees received from multichannel video programming distributors (‘MVPDs’) and third-party live television streaming services (‘virtual MVPDs’ or ‘vMVPDs’) for carriage of the company’s cable networks (cable affiliate fees) and the company’s owned television stations (retransmission fees), and fees received from television stations for their affiliation with the CBS Television Network (‘reverse compensation’); and the licensing and distribution of the company’s content and other rights.

Broadcast

CBS Television Network: The CBS Television Network (the ‘CBS Network’), through CBS Entertainment, CBS News and CBS Sports, distributes entertainment programming, news, public affairs programs and sports. CBS Network content also is available on the internet, including through: CBS.com, CBSNews.com, CBSSports.com and related apps; the company’s streaming services, such as Paramount+, CBS News Streaming and Pluto TV; and MVPDs and vMVPDs. CBS Entertainment acquires or develops and schedules the programming on the CBS Network, which includes primetime comedies and dramas, reality, specials, kids’ programs, daytime dramas, game shows and late night. CBS News operates a worldwide news organization, providing the CBS Network, CBS News Radio and digital platforms with regularly scheduled news and public affairs programs. CBS Sports broadcasts on the CBS Network include certain regular season and playoff NFL games, including post-season American Football Conference wild card playoff, divisional playoff and championship games and, on a rotating basis with other networks, the Super Bowl; the National Collegiate Athletic Association’s (the ‘NCAA’) Division I Men’s Basketball Tournament and marquee regular-season college basketball games; regular-season college football games; the PGA TOUR, the Masters and the PGA Championship; and certain UEFA Champions League games.

CBS Stations: CBS Stations consists of the company’s 29 owned broadcast television stations, all of which operate under licenses granted by the Federal Communications Commission (the ‘FCC’) pursuant to the Communications Act of 1934, as amended (the ‘Communications Act’). Licensees must seek to renew each license every eight years. The company’s stations are located in the six largest, and 15 of the top 20, television markets in the U.S. The company owns multiple stations within the same Nielsen-designated market area in 10 major markets, including New York, Los Angeles and Philadelphia. The stations broadcast news, public affairs, sports and other programming to serve their local markets. Local versions of CBS News Streaming offer local news from certain of the company’s owned stations.

International Free-to-Air Networks: The company operates a number of free-to-air networks around the world: Network 10 in Australia whose brands include 10, 10 Bold, 10 Peach, 10 Shake and 10 Play; Channel 5, a public service broadcaster in the U.K. whose brands include 5, 5 Action, 5 Select, 5Star, 5USA, Milkshake and My5; Telefe in Argentina whose brands include Telefe Noticias, Mi Telefe, Telefe Internacional, tlfesports, Telefe Channels on Pluto TV and Mitelefe; and Chilevisión in Chile whose brands include Chilevisión Noticias, CHV and Chilevisión Channels on Pluto TV.

Cable

Paramount Media Networks: Paramount Media Networks connects with global audiences through its iconic brands - CMT, a country music and lifestyle channel; Comedy Central, a comedy-focused brand that includes stand-up specials, sketch shows, adult animation and late-night programming; Logo, a network dedicated to lifestyle and entertainment programming for LGBTQ+ audiences; MTV, a storied youth entertainment brand home to notable franchises and live events, such as the MTV Video Music Awards; Paramount Network, a premium entertainment destination and home to Yellowstone; Pop TV, a pop culture-focused channel; SHOWTIME, which offers premium original scripted and unscripted series, movies, documentaries and docuseries, sports, comedy and special events; The Smithsonian Channel, home of popular genres, such as air and space, travel, history, science, nature and culture; and TV Land, a destination for consumers in their 30s and 40s.

Nickelodeon: Nickelodeon is an entertainment brand for kids and families that features original and licensed series across animation, live-action and preschool genres. Nickelodeon brands include Nick Jr., Nick at Nite, TeenNick, Nicktoons and Nick Music. Nickelodeon is a key part of the company’s global consumer products business and also licenses its brands for recreation and other location-based experiences such as hotels and theme parks.

BET Media Group: BET Media Group provides premium entertainment, music, news, digital and public affairs content for Black audiences. BET Media Group serves as a destination for Black expression, as well as a gathering place for Black creators, talent and communities. BET Media Group’s multiplatform extensions include BET Studios, a studio venture that offers equity ownership to Black content creators; BET Digital; BET Her, a network focused on Black women; BET Music Networks; BET Home Entertainment; BET Live, BET’s events and experience business, which include the BET Awards; BET International; and VH1, a multicultural pop culture destination.

CBS Sports Network: The CBS Sports Network is CBS Sports’ 24-hour cable channel that provides a diverse slate of sports and related content. The network televises live professional, amateur and college events, including Division I college football, basketball, hockey and lacrosse, and certain domestic and international soccer games. In addition, the network showcases a variety of original programming, including documentaries, features and studio shows. CBS Sports Network also provides ancillary coverage for CBS Sports relating to major events, such as the NCAA Division I Men’s Basketball Tournament, the Masters and the PGA Championship.

Studios

The company’s studios produce content across broadcast, cable and streaming in the U.S. and internationally. The company’s studios include CBS Studios, which maintains an extensive library of intellectual property, including global franchises, such as the Star Trek universe, and produces late night and daytime talk shows; MTV Entertainment Studios, which produces television series and films and MTV Documentary Films; and Paramount Television Studios, which produces a range of television content.

CBS Media Ventures (‘CMV’) produces and distributes original series programming across various dayparts and genres, including talk shows, court shows, game shows and newsmagazines, which are licensed on a market-by-market basis to television stations for local broadcast television and streaming. CMV engages in national advertising and integrated marketing sales for the programming it distributes, as well as serving as the national advertising sales agent for other major syndicators.

Direct-to-Consumer

The company’s Direct-to-Consumer segment includes the company’s domestic and international portfolio of pay and free streaming services, including Paramount+, Pluto TV, Showtime Networks’ subscription streaming service (‘SHOWTIME OTT’), BET+ and Noggin. The company recently announced that it will be fully integrating SHOWTIME into Paramount+ across both streaming and linear platforms later in 2023. Direct-to-Consumer’s revenues are consisted of advertising and subscription revenues generated by the company’s streaming services.

Paramount+: Paramount+, the company’s global on-demand and live subscription streaming service, combines live sports, news and entertainment content. Paramount+ features an expansive catalogue of original series, shows and popular movies across every genre from the company’s brands and production studios and from third parties. Domestically, Paramount+ is home to livestreamed CBS Sports programming, including the NFL, NCAA Division I Men’s Basketball on CBS and the Masters. A destination for soccer fans, Paramount+ features select live and on-demand matches from a number of domestic and international leagues, including UEFA, Italy’s Serie A, the National Women’s Soccer League and the Women’s Super League. Paramount+ also enables subscribers to stream local CBS Stations live across the U.S. in addition to CBS News Streaming and CBS Sports HQ. Paramount+ is available in two versions in the U.S.: Premium, an advertising-free offering (except during livestreamed and other limited content) that includes all the benefits of Paramount+ for a subscription fee; and Essential, an advertising-supported offering available for a lower fee that includes the NFL but not livestreamed local CBS Stations.

Pluto TV: Pluto TV, the company’s global FAST service, features a broad range of curated live linear channels and on-demand content. Categories cover a wide array of genres, including movies, television series, including classic television, sports, news and opinion, reality, crime, game shows, comedy, daytime TV, home, food, lifestyle and culture, gaming and anime, music, kids and local news. Pluto TV en español delivers Spanish-language channels reflecting the rich tapestry of the U.S. Hispanic community. Pluto TV can be accessed and streamed across connected television devices, mobile and the internet.

BET+: BET+, a joint venture between BET and Tyler Perry Studios, is a subscription streaming service in the U.S. focused on Black audiences, featuring movies, television, stand-up comedy, award shows and specials. BET+ is home to exclusive original content from leading Black creators.

SHOWTIME OTT: SHOWTIME OTT is Showtime Networks’ premium subscription streaming service in the U.S. The company recently announced that it will be fully integrating SHOWTIME into Paramount+ across both streaming and linear platforms later in 2023.

Noggin: Noggin is Nickelodeon’s direct-to-consumer learning platform with an extensive library of interactive learning games, videos and books and advertising-free episodes of popular preschool series. Developed by education experts, Noggin delivers an adaptive learning experience that fosters curiosity and is designed to build early math, literacy and social and emotional skills.

Filmed Entertainment

The company’s Filmed Entertainment segment consists of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness and Miramax. Filmed Entertainment produces and acquires films, series and short-form content for release and licensing in media around the world, including in theaters, on streaming services, on television, and through digital home entertainment and DVDs. Filmed Entertainment’s revenues are generated primarily from the release or distribution of films theatrically and the licensing of film and television content.

Paramount Pictures: A producer and global distributor of filmed entertainment since 1912, Paramount Pictures is an iconic brand with an extensive library of films, which include such classics as Titanic, Forrest Gump and The Godfather, and well-known franchises, such as Mission: Impossible and Transformers.

Paramount Players: Paramount Players focuses on creating genre films from distinct, contemporary voices and properties, as well as drawing from Paramount’s rich library of content. Paramount Players also produces films for initial release on Paramount+.

Paramount Animation: Paramount Animation develops and produces franchise and original animated films, including drawing from the Paramount Pictures and Nickelodeon libraries.

Nickelodeon Studio: Nickelodeon Studio produces and distributes animated and live action series, films, made-for-television movies and short-form content for kids and families across multiple platforms worldwide.

Awesomeness: Awesomeness creates content focused on the global Gen Z audience through its digital publishing, film and television studio divisions.

Miramax: Miramax, a joint venture with beIN Media Group, is a global film and television studio with an extensive library of content. The company has exclusive, long-term rights to distribute Miramax’s library, as well as certain rights to co-produce, co-finance and/or distribute new film and television projects.

Filmed Entertainment produces most of the films the company releases and also acquires films for distribution from third parties. In some cases, the company co-finances and/or co-distributes films with third parties, including other studios. The company also enters into film-specific and multipicture financing arrangements from time to time under which third parties participate in the financing of the costs of a film or group of films in exchange for an economic participation and a partial copyright interest.

The company distributes films in various media worldwide or in select territories and may engage third-party distributors for certain films in certain territories. Domestically, the company generally markets and distributes its own theatrical and home entertainment releases. Internationally, the company distributes theatrical releases through the company’s international affiliates or, in territories where it has no operating presence, through United International Pictures, the company’s joint venture with Universal Studios, or other third-party distributors. For home entertainment releases, DVD and Blu-ray discs are distributed internationally by local licensees. The company also licenses films and television shows domestically and/or internationally to a variety of platforms.

Regulation

Each of the company’s owned television stations in the U.S. must be licensed by the FCC.

The Communications Act generally restricts foreign individuals or entities from collectively owning more than 25% of the company’s voting power or equity.

The company’s international free-to-air networks are subject to the rules and regulations of a number of foreign regulators, including the Australian Communications and Media Authority (ACMA) in Australia; the Office of Communications (Ofcom) in the U.K.; Ente Nacional de Comunicaciones (ENACOM) in Argentina; and the Consejo Nacional de Televisión (CNTV) in Chile.

History

The company was founded in 1914. It was incorporated as a Delaware corporation in 1986. The company was formerly known as CBS Corporation and changed its name to ViacomCBS Inc. in 2019. Further, the company changed its name to Paramount Global in February 2022.