Stock

Paramount Global has a ‘huge opportunity’ in streaming: CEO Bob Bakish

Streaming is expected to grow at a CAGR of nearly 20% between now and the year 2029, and Paramount Global Inc (NASDAQ: PARA) is well-positioned to benefit from that growth, as per the CEO.

Paramount caters to a wide audience

On a CNBC interview this morning, Bob Bakish said the Nasdaq-listed firm was unique in a sense that it caters to an incredibly wide audience.

Free services on Pluto TV, low-priced subscription with ads, and Paramount Plus (premium service) gives us the maximum access to the streaming market.

Content on Paramount Plus is fairly diverse

In terms of content also, there’s news and sports on top of entertainment. So, there’s something for everyone on Paramount Plus that had nearly 40 million paid subscribers as of May 2022. The CEO added:

Since we launched Paramount Plus, we’ve had the highest share of signups, gross and net ads in the industry, and in fact, that’s true for six of the last seven months.

Paramount Global enjoys lower content costs

Shares of the mass media and entertainment conglomerate are up roughly 5.0% on Tuesday. Bakish is also positive on the company’s future as it offers the best of both words; streaming and linear television.

That gives us access to content and reduces our content costs for streaming because we’re sharing content.

His confidence is also driven from the fact that Paramount Global continues to lower its churn every month. In May, Warren Buffet took an equity stake worth $2.60 billion in “Para”.

The post Paramount Global has a ‘huge opportunity’ in streaming: CEO Bob Bakish appeared first on Invezz.

Disclaimer: MonopolyWinnersUpdates.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 MonopolyWinnersUpdates.com. All Rights Reserved.

To Top