Paramount plans streaming price increases


Paramount Global said it saw its streaming business grow during the fourth quarter, and announced plans to increase prices for Paramount+ this year.

Despite adding more streaming customers, Paramount reported its fourth-quarter revenue declined 7%, compared with last year, to roughly $5.9 billion as the weak advertising market weighed on the company.

Paramount’s stock was down nearly 3% early Thursday.

The company previously warned of the soft advertising market, and on Thursday said ad revenue fell 5% as growth in political advertising was partially offset by the international market. Cord-cutting also played a role, with affiliate and subscription revenue dropping 4%.

Company executives on…

Source cnbc.com

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