Welcome to our dedicated page for Paramount Global news (Ticker: PARAA), a resource for investors and traders seeking the latest updates and insights on Paramount Global stock.
Paramount Global, trading under the symbol PARAA, is a prominent media and entertainment company driven by iconic consumer brands. The company's extensive portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV, and Simon & Schuster, among others. Paramount Global commands a significant share of the U.S. television audience and holds a vast library of TV and film titles. In addition to offering innovative streaming services and digital video products, the company excels in production, distribution, and advertising solutions on a global scale.
Paramount Global operates within three main business segments: TV media, filmed entertainment, and direct-to-consumer. The TV media segment comprises television production studios, various broadcast and cable networks, such as CBS, Paramount, Nickelodeon, MTV, BET, and VH1. The filmed entertainment division includes multiple film studios, notably Paramount Pictures, that produce and distribute movies to theaters and other media outlets. Direct-to-consumer encompasses various streaming platforms, including Paramount+, Showtime, Pluto TV, and BET+. Content on these platforms is created by the production studios within the company's other business segments, providing a diverse range of entertainment options for audiences worldwide.
Paramount Global (NASDAQ: PARA; PARAA) announced that Chief Financial Officer Naveen Chopra will participate in a fireside chat at the RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference in New York on November 16, 2022, at 9:25 a.m. ET. Investors can access a live audio webcast on Paramount's Investor Relations homepage, with a replay available post-event. Paramount Global is a major media and entertainment company, known for its extensive library and various consumer brands including CBS, Showtime, and Paramount+.
The BET "Soul Train Awards" 2022 will now air on November 26, 2022, at 8 PM ET/PT across multiple platforms including BET, BET HER, Logo, MTV2, and VH1. The preshow, hosted by Tank, Letoya Luckett, and Novi Brown, begins at 7 PM ET. Iconic performances will feature artists like Ari Lennox and Chanté Moore. The event will honor Morris Day & The Time with the 'Legend' award and Xscape as 'Lady of Soul'. This year's Soul Cypher will be presented by Walmart with notable performers.
Paramount Consumer Products has partnered with droppLabs to launch an innovative interactive shopping experience for the Star Trek Tridimensional Chess Set. Utilizing dropp's XR and e-commerce technology, fans can interact with the chess set digitally before making their purchase. This initiative marks the first integration of droppLabs' technology into Paramount's e-commerce strategy, aiming to enhance the shopping experience and engage a new audience in the evolving e-commerce landscape. The collaboration reflects a shift towards immersive, tech-driven consumer interactions in the entertainment industry.
The renewed partnership between Paramount and Virgin Media will launch Paramount+ on Virgin TV in 2023, enhancing access to over 8000 hours of exclusive content. Pluto TV, a leading free ad-supported service, will also expand its distribution to Virgin Media, including thematic channels and movies. This agreement aims to bolster Paramount's streaming growth in the UK. Executive statements highlight the commitment to providing diverse entertainment to customers and the ambition to enhance service offerings through this collaboration.
Paramount Global (NASDAQ: PARA, PARAA) reported its third-quarter financial results for the period ending September 30, 2022, announcing a significant decline in revenue and earnings per share (EPS). The company noted challenges in its streaming segment, which affected overall profitability. The earnings call is scheduled for November 2, 2022 at 8:30 a.m. ET, with an audio replay available later in the day. Paramount continues to focus on expanding its media offerings across various platforms while striving to enhance viewer engagement.
Monster High The Movie debuted as the top kids and family movie on Paramount+ during its launch week, attracting over 4M viewers across Nickelodeon platforms. Following this success, Nickelodeon and Mattel Television have announced a sequel set to begin production in January in Vancouver, with a release planned for 2023. This musical film continues the legacy of the Monster High franchise, promoting themes of self-acceptance and empowerment. Additionally, a new animated series will premiere on Nickelodeon on Oct. 28.
Paramount Global is set to host the Paramount Global Summit on Disability on October 31, 2022, at its Hollywood Gower office in Los Angeles. This virtual and in-person event will feature keynote speaker Danny Woodburn and discussions aimed at promoting disability inclusion in entertainment. The summit coincides with National Disability Employment Awareness Month and aims to highlight underrepresentation of disabled individuals in media. Paramount’s ongoing initiatives include the CBS Performers with Disabilities Talent Initiative to improve casting opportunities for disabled talent.
Nickelodeon will debut a new float and balloon hybrid featuring Baby Shark at the 96th Annual Macy's Thanksgiving Day Parade on Nov. 24, 2022. The float is 18-feet long with a seascape theme, complemented by a 25-foot Baby Shark balloon. The parade will also see returning favorites like Blues Clues & You!, SpongeBob SquarePants, PAW Patrol, and The Smurfs. Nickelodeon's Blue's Big City Adventure movie premieres on Nov. 18 on Paramount+, enhancing the brand's presence during the holiday.
On October 12, 2022, CJ 4DPlex announced that Paramount Pictures' 'Top Gun: Maverick' has achieved $60 million in box office sales through its immersive formats, 4DX and ScreenX. This film has become the highest-grossing title in CJ 4DPlex's history, with 4DX exceeding $40 million and ScreenX surpassing $20 million globally. Key regional contributions include $13 million from North America and over $22 million from the APAC region. The company operates 786 4DX theatres and 370 ScreenX theatres worldwide, making it the second-largest premium format network globally.
SpongeBob SquarePants Presents The Tidal Zone is Nickelodeon's first crossover event featuring iconic characters from SpongeBob SquarePants, The Patrick Star Show, and Kamp Koral. Premiering on November 25, this special promises a multidimensional adventure filled with comedy and familiar antics. The reveal occurred during the New York Comic Con where the voice cast and executive producers shared insights. SpongeBob SquarePants remains a significant cultural phenomenon, being the most-watched animated series for nearly 20 years and expanding with new episodes and movies.
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