Financial Performance - For the three months ended September 30, 2024, revenues decreased 6% to $6.73 billion compared to $7.13 billion in the same period of 2023[155]. - Operating income decreased 46% to $337 million for the three months ended September 30, 2024, impacted by restructuring charges and impairment charges totaling $425 million[156]. - The net loss from continuing operations attributable to Paramount was $4 million, or $0.01 per diluted share, compared to net earnings of $247 million, or $0.36 per diluted share, in the prior year[158]. - For the nine months ended September 30, 2024, revenues decreased 4% to $21.23 billion, with declines in licensing and theatrical releases, partially offset by growth in streaming services[160]. - The operating loss for the nine months ended September 30, 2024, was $5.40 billion, significantly higher than the $855 million loss in the prior year, due to programming and impairment charges[161]. - The net loss from continuing operations attributable to Paramount for the nine months ended September 30, 2024, was $5.98 billion, or $9.04 per diluted share, compared to a loss of $1.29 billion, or $2.04 per diluted share, in the same period of 2023[163]. - Adjusted net earnings from continuing operations attributable to Paramount improved by $753 million, or $1.17 per diluted share, reflecting higher Adjusted OIBDA and lower interest expense[163]. Revenue Breakdown - Total revenues for the three months ended September 30, 2024, decreased by 6% to $6,731 million compared to $7,133 million for the same period in 2023[176]. - Advertising revenue increased by 2% to $2,174 million, accounting for 32% of total revenues in Q3 2024[176]. - Affiliate and subscription revenue decreased by 1% to $3,215 million, representing 48% of total revenues[176]. - Theatrical revenue saw a significant decline of 71%, dropping to $108 million from $377 million in the prior year[176]. - Licensing and other revenue decreased by 9% to $1,234 million, making up 18% of total revenues[176]. - Direct-to-Consumer revenues increased by 10% to $1.860 billion for the three months ended September 30, 2024, compared to $1.692 billion in 2023[220]. - Advertising revenues increased by 18%, driven by growth in impressions for Paramount+ and Pluto TV[242]. - Subscription revenues rose by 7%, attributed to the increase in Paramount+ subscribers and domestic pricing adjustments[243]. Adjusted OIBDA - Adjusted OIBDA increased 20% to $858 million for the three months ended September 30, 2024, driven by improved results from streaming services[157]. - Adjusted OIBDA for the nine months ended September 30, 2024, was $2,712 million, up from $1,870 million in the same period of 2023[167]. - Adjusted OIBDA for the three months ended September 30, 2024, increased by 20% to $858 million from $716 million in 2023[222]. - Adjusted OIBDA improved by $287 million to $49 million, reflecting revenue growth and lower marketing and content costs[245]. Impairment and Charges - Impairment charges for the nine months ended September 30, 2024, totaled $6,100 million, significantly impacting the financial results[172]. - The company recorded programming charges of $1.12 billion in the first quarter of 2024 related to content strategy changes, including $909 million for impairment of content[192]. - A goodwill impairment charge of $5.98 billion was recorded for the Cable Networks reporting unit during the second quarter of 2024[198]. - The company incurred impairment charges totaling $6.10 billion for the nine months ended September 30, 2024, impacting net earnings significantly[214]. Debt and Cash Flow - The total notes and debentures outstanding as of September 30, 2024, were $14.62 billion, with a weighted average interest rate of 5.17%[205]. - Long-term debt obligations due over the next five years were $2.64 billion as of September 30, 2024[266]. - Total debt at September 30, 2024, was $14.62 billion, slightly up from $14.60 billion at December 31, 2023[280]. - Net cash flow from operating activities for the nine months ended September 30, 2024, was $584 million, compared to a net use of cash of $174 million in the same period of 2023[270]. - Operating cash flow from continuing operations increased due to lower spending on content, compensation, and marketing[272]. - Net cash flow provided by operating activities for the nine months ended September 30, 2024, was $198 million, compared to $288 million for the same period in 2023[272]. Strategic Transactions - Paramount entered into a transaction agreement with Skydance Media, involving an investment of up to $6.0 billion into a new holding company, New Paramount[147]. - The transactions are expected to close in the first half of 2025, subject to customary closing conditions and regulatory approvals[149]. - The company is subject to potential litigation related to the Transactions that could delay or prevent their closing[325]. Market Risks and Challenges - The company faces risks related to its streaming business and advertising revenues due to market conditions and changes in consumer viewership[325]. - There are ongoing changes in business strategy, including investments in new businesses, products, and technologies[325]. - The company is exposed to potential losses from asset impairment charges for goodwill and intangible assets[325]. - Risks related to environmental, social, and governance (ESG) matters are acknowledged[325]. - The company is navigating challenges related to labor disputes and the retention of key employees[325]. Other Financial Metrics - The effective income tax rate for the nine months ended September 30, 2024, was reported at 5.6%, with an adjusted effective income tax rate of 21.8%[172]. - The effective income tax rate for the three months ended September 30, 2024, was 37.5%, while the nine-month rate was 5.6%[208]. - Dividends declared per common share for the nine months ended September 30, 2024, were $0.15, down from $0.34 in 2023[278].

Financial Performance - Total revenue for the company decreased by 6% year-over-year to $6.731 billion, with a 4% decline for the nine months ended September 30, totaling $21.229 billion[3]. - Revenues for Q3 2024 were $6,731 million, a decrease of 5.6% compared to $7,133 million in Q3 2023[15]. - Operating income for Q3 2024 was $337 million, down 45.7% from $621 million in Q3 2023[15]. - Net earnings from continuing operations for Q3 2024 were $16 million, compared to $261 million in Q3 2023, reflecting a significant decline[15]. - Total revenue for the nine months ended September 30, 2024, was $1.874 billion, a decrease of 19% from $2.310 billion in 2023[9]. - The company reported impairment charges of $6,100 million for the nine months ended September 30, 2024, indicating substantial asset write-downs[15]. - Paramount reported a net loss of $5,941 million from continuing operations for the nine months ended September 30, 2024, compared to a loss of $1,259 million in the same period of 2023[18]. - Basic net earnings per share from continuing operations for Q3 2024 were $(0.01), compared to $0.36 in Q3 2023[15]. - The company reported a diluted EPS from continuing operations of $(9.04) for the nine months ended September 30, 2024, compared to $0.36 in 2023[26]. Direct-to-Consumer (DTC) Segment - Direct-to-Consumer (DTC) adjusted OIBDA improved by $287 million year-over-year to $49 million[1]. - Paramount+ experienced a revenue growth of 25% year-over-year, adding 3.5 million subscribers in the quarter, reaching a total of 72 million subscribers[1][6]. - DTC revenue increased by 10% year-over-year, with subscription revenue growing by 7% and advertising revenue rising by 18%[6][7]. - The DTC segment achieved profitability for the second consecutive quarter, improving by over $1 billion over the past four quarters[2]. - Paramount+ global ARPU expanded by 11% year-over-year[6]. Revenue Breakdown - TV Media revenue decreased by 6% to $4.298 billion, primarily due to lower affiliate revenue and fluctuations in licensing revenue[8]. - Filmed Entertainment revenue decreased 34% to $590 million compared to $891 million in the prior year[9]. - Theatrical revenue decreased 71% to $108 million, down from $377 million in the previous year[9]. - Licensing and other revenue decreased 6% to $480 million, compared to $509 million last year[9]. - Advertising revenue for the nine months decreased 52% to $10 million, down from $21 million[9]. Cost Management and Savings - The company is advancing $500 million in annual run rate cost savings through non-content cost reductions[2]. - Adjusted OIBDA for TV Media decreased by 19% to $936 million[8]. - Programming charges for the nine months ended September 30, 2024, were $1,118 million, significantly lower than $2,371 million in the same period of 2023[15]. - The company incurred restructuring and transaction-related costs of $44 million as part of its operational transformation initiatives[30]. Asset and Equity Changes - Total current assets decreased to $11,925 million as of September 30, 2024, from $12,703 million at December 31, 2023[16]. - Total Paramount stockholders' equity decreased to $16,628 million as of September 30, 2024, down from $22,526 million at December 31, 2023[16]. - Long-term debt remained relatively stable at $14,495 million as of September 30, 2024, compared to $14,601 million at December 31, 2023[16]. Cash Flow and Investments - Net cash flow provided by operating activities from continuing operations was $584 million for the nine months ended September 30, 2024, compared to a cash outflow of $174 million in 2023[18]. - Free cash flow for Q3 2024 was $214 million, down from $377 million in Q3 2023, while free cash flow for the nine months ended September 30, 2024 was $433 million compared to $(387) million in the same period of 2023[36]. - The company recognized stock-based compensation expenses of $175 million for the nine months ended September 30, 2024, compared to $131 million in 2023[18]. - Paramount's net cash flow used for investing activities was $(317) million for the nine months ended September 30, 2024, compared to $(344) million in 2023[18]. Impairment and Charges - The company recorded a goodwill impairment charge of $5.98 billion during the second quarter of 2024[4]. - The company incurred impairment charges of $6,100 million during the nine months ended September 30, 2024, significantly impacting net earnings[18]. Future Transactions - Completion of the Skydance transactions is anticipated to close in the first half of 2025, subject to regulatory approvals[10]. - Paramount continues to operate in the normal course of business until the Skydance transactions are finalized[10]. Strategic Goals - The company aims to utilize free cash flow for servicing debt, paying dividends, and making strategic acquisitions[33]. - The adjusted effective income tax rate for the nine months ended September 30, 2024, was 21.8%, compared to 5.6% for the same period in 2023[28].

Core Insights - The "BET Black Men's Summit" aims to address critical economic, social, and political issues affecting Black men ahead of the 2024 presidential election [1][2] - The summit features influential figures from various industries, fostering discussions on economic disparities, political engagement, and reproductive rights [3][4][5] Economic Focus - Economic challenges are highlighted, with discussions on the pandemic's impact on Black communities and the inadequacies of the current minimum wage [4] - Charles Phillips emphasizes the economic disparities exacerbated by the pandemic and notes improvements under President Biden's leadership [4] Political Engagement - Congressman Steven Horsford discusses the importance of Black men's political engagement and the need to debunk misleading narratives [5] - Jermaine Dupri stresses the necessity for greater political education within the Black community to combat misinformation [5] Community Perspectives - "Man-on-the-street" segments by Vic Mensa and Kenny Burns capture real-time perspectives from Black men in battleground states, addressing issues like immigration and reproductive rights [6] - Vic Mensa highlights the importance of reproductive rights and the higher maternal mortality rates among Black women in states with abortion bans [7] Call to Action - The summit serves as a call to action for Black men to reclaim their voices and engage in the political process, emphasizing the importance of their lived experiences [8] - The BET "We VOTE" campaign aims to increase civic engagement and voter participation within the Black community [9][10] Company Overview - BET Media Group is dedicated to empowering the Black community and amplifying their voices through various platforms, including BET, BET+, and VH1 [11]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbols Name of each exchange on which registered Class A Common Stock, $0.001 par value PARAA The Nasdaq Stock Market LLC Class B Common Stock, $0.001 par value PARA The Nasdaq Stock Market LLC FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 Paramount Global (Exact name of registrant as specified in its charter) Not Applicable (Former name, former ...

Exhibit 99 EARNINGS PRESS RELEASE | April 29, 2024 1 2024 STATEMENT FROM NAVEEN CHOPRA, EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER The team delivered another quarter of strong operational and financial performance - including significant growth in total company earnings and free cash flow - despite the dynamic environment we continue to operate in. It was a record-setting quarter for Paramount+ in engagement and revenue, and in the DTC segment as we continued to substantially narrow streaming losses ...

Revenue and Subscriber Growth - Paramount+ revenue increased 69% year-over-year in Q4, reaching 67.5 million subscribers with 4.1 million net additions in the quarter[3] - Direct-to-Consumer (DTC) revenue grew 34% year-over-year, with subscription revenue rising 43% driven by subscriber growth and pricing increases[7] - TV Media revenue declined 12% year-over-year to $5,168 million, impacted by a decrease in advertising revenue[11] - Filmed Entertainment revenue decreased 31% year-over-year to $647 million, primarily due to lower licensing revenue[17] - Global ARPU for Paramount+ expanded 31% year-over-year, indicating improved monetization strategies[3] Financial Performance - Total company revenue for Q4 was $7,638 million, a 6% decrease from $8,131 million in Q4 2022[2] - The company reported a diluted EPS from continuing operations of $0.05 in Q4 2023, a 93% improvement from a loss of $0.29 in Q4 2022[2] - Q4 2023 revenues decreased to $7,638 million from $8,131 million in Q4 2022, representing a decline of 6.1%[21] - Net earnings attributable to Paramount for Q4 2023 were $514 million, compared to $21 million in Q4 2022, showing a significant increase[21] - The basic net earnings per share attributable to Paramount for Q4 2023 was $0.77, up from $0.01 in Q4 2022[21] Costs and Expenses - Total costs and expenses for Q4 2023 were $7,234 million, down from $7,949 million in Q4 2022, a reduction of 9.0%[21] - Adjusted OIBDA for DTC improved by $85 million year-over-year, reflecting higher revenue offsetting increased costs[7] Cash Flow and Liquidity - The company generated $558 million of net operating cash flow and $443 million of free cash flow in Q4[3] - Cash and cash equivalents at the end of Q4 2023 were $2,460 million, down from $2,885 million in Q4 2022[24] - Net cash flow provided by operating activities from continuing operations was $384 million for the twelve months ended December 31, 2023, compared to a cash outflow of $142 million in 2022[26] - Free cash flow for the twelve months ended December 31, 2023, was $56 million, compared to a negative $500 million for the same period in 2022[51] Debt and Equity - Long-term debt decreased to $14,601 million in 2023 from $15,607 million in 2022, a reduction of 6.4%[24] - The total equity attributable to Paramount stockholders decreased to $22,526 million in 2023 from $23,036 million in 2022, a decline of 2.2%[24] Impairment and Restructuring Charges - The company incurred impairment charges of $83 million for the twelve months ended December 31, 2023, compared to $27 million in 2022[30] - Restructuring charges for the twelve months ended December 31, 2023, were $102 million, down from $328 million in 2022[30] Future Outlook - Paramount expects to reach domestic profitability for Paramount+ by 2025, with significant earnings growth anticipated in 2024[3] Taxation - The effective income tax rate for the quarter ended December 31, 2023, was 41.0%, while the adjusted effective income tax rate was 20.4%[33] - The reported effective income tax rate for the year ended December 31, 2023, was 28.8%, while the adjusted effective income tax rate was 20.2%[41] Other Notable Items - The company recognized a gain of $120 million from a settlement related to litigation in the fourth quarter of 2023[39] - The company recognized a $41 million gain from the contribution of certain assets of Paramount+ in the Nordics to SkyShowtime[44] - The company reported an impairment charge of $100 million related to the carrying values of FCC licenses in two markets[42]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-09553 Paramount Global (Exact name of registrant as specified in its charter) Delaware 04-2949533 (State or other jurisdiction of incorporation or org ...

Paramount Global (NASDAQ:PARA) Q3 2023 Earnings Conference Call November 2, 2023 4:30 PM ET Company Participants Jaime Morris - EVP, IR Bob Bakish - President and CEO Naveen Chopra - CFO Conference Call Participants Michael Morris - Guggenheim Ben Swinburne - Morgan Stanley Jessica Reif Ehrlich - Bank of America Rich Greenfield - LightShed Partners Brett Feldman - Goldman Sachs Phil Cusick - JPMorgan John Hodulik - UBS Bryan Kraft - Deutsche Bank Operator Good afternoon. My name is Nadia, and I'll be the co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-09553 Paramount Global (Exact name of registrant as specified in its charter) Delaware 04-2949533 (State or o ...