$PARA Earnings: Sure, Paramount+ subscriber growth is chugging along, but for sating investors, M&A might still be Bakish's best option
earlier this week, when streaming services announced subscriber growth, the stocks were often rewarded. The best example, of course, being Netflix. Was the stock’s recent decline because of concerns about macroeconomic pressures and uncertainty? Probably in part. Most companies are uncertain about the economic outlook in the near-term, and that’s caused some cost-cutting efficiencies and lowered guidance.
Bakish wants you to turn a blind eye to the other struggling facets of Paramount’s business to focus on streaming and Paramount+’s successes. “[We are] confident in our ability to take [streaming] share,” Bakish asserted on the call. Paramount is still launching in various international markets, which ideally would yield a steady stream of subscriber additions in the coming quarters. Then there’s the whole partnerships strategy. in November 2021, which gave T-Mobile and Sprint’s eligible customers 12 months of Paramount+ Essential for free. That promotion gave Paramount+ subscriptions a boost in Q4, and the platform added 6.8 million subscribers during the quarter. with retail behemoth Walmart.
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