"Happy Baek-il to Paramount Skydance, which turns 100 days old this week. Okay, technically, as of Monday, when Paramount Skydance released its first post-merger quarterly earnings report, only 96 days have passed. But if there truly is "tremendous energy and excitement across the company," as CEO and Chairman David Ellison told investors, then perhaps an early celebration can be forgiven."
"In any case, the company's revenue for Q3 remained flat compared to last year at just under $6.7 billion, most of which was generated after the merger deal closed on August 7. (Paramount Skydance was required to report its Q3 results separately for the periods before and after the merger.) At the same time, the company's direct-to-consumer business - meaning its streaming services, in other words - increased revenue by 17%, from $1.86 billion in 2024 to $2.17 billion in 2025."
"Stacks on stacks However, the earnings numbers also suggest that subscription revenue, not advertising revenue, is driving the bulk of that growth. Paramount+ is now at 79.1 million total subscribers, and subscription revenue came out to roughly $1.69 billion for Q3 this year. Meanwhile, advertising generated $479 million for that same period. Part of the problem might be Pluto TV, which underperformed "primarily due to lower sell out rates," the letter to shareholders states."
Paramount Skydance marked roughly 96 days since its merger and released its post-merger Q3 earnings report. Q3 revenue remained flat year‑over‑year at just under $6.7 billion, with most revenue generated after the merger closed on August 7. Direct-to-consumer revenue rose 17% to $2.17 billion, driven by a 24% increase in Paramount+ revenue, which now makes up about 80% of the DTC business. Paramount+ reached 79.1 million subscribers, producing roughly $1.69 billion in subscription revenue for Q3, while advertising revenue totaled $479 million. Pluto TV underperformed due to lower sell-out rates. The company plans 1,000 layoffs and will prioritize DTC and unify back-end streaming technology in 2026.
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