Paramount’s brands now belong to Skydance Corporation, which also completed its acquisition of Warner Bros. Discovery on 6 October 2026. In 2025 Paramount’s businesses had about $28.9 billion of revenue (TV Media with CBS, MTV, Nickelodeon, Comedy Central and BET; Paramount+ and Pluto TV; Paramount Pictures) and Warner Bros. Discovery $37.3 billion (Warner Bros., HBO Max, DC, CNN, Discovery, TNT, TLC).
Sources: Paramount Skydance and Warner Bros. Discovery 2025 Forms 10-K; Skydance Form 8-K of 6 Oct 2026 (SEC EDGAR). Analysis by The Business Engineer.
How we source: figures on this page come from the company’s own filings (SEC 10-K and proxy statement, or its annual report and results), with the period stated next to each number; figures marked “reported” come from named press sources. Last refreshed October 2026. Our methodology.
Video: Skydance (Paramount), explained in about a minute. Tap for sound. Built from the company’s own filings.
Paramount is a Media powerhouse comprising many media brands, which generated over $30 billion in revenue in 2022, comprising brands like CBS, Paramount, Nickelodeon, MTV, Paramount+, Pluto TV, and many others.
International Free-to-Air Networks: Network 10, Channel 5, Telefe, and Chilevisiรณn
Domestic Premium and Basic Cable Networks:
Paramount Media Networks
Nickelodeon
BET Media Group
CBS Sports Network
Domestic and International Television Studio Operations:
CBS Studios
Paramount Television Studios
MTV Entertainment Studios
CBS Media Ventures
The Business Engineer view: two studios, one bet on streaming
Source: Paramount Skydance and Warner Bros. Discovery 2025 Forms 10-K; Skydance Form 8-K of 6 Oct 2026 (SEC EDGAR). Analysis by The Business Engineer.
Paramount’s 2025 figures combine the period before and after the Skydance deal of 7 August 2025: TV Media $17.1 billion, streaming $8.6 billion and Paramount Pictures $3.3 billion (calculated from its 2025 Form 10-K).
Cable networks still earn the most. Warner Bros. Discovery’s global networks made a 36.3% adjusted EBITDA margin and Paramount’s TV Media 21.7%, against 17.2% for WBD streaming and studios and 2.7% for Paramount’s streaming. Paramount Pictures lost money on that measure.
The Ellison family controls the combined group through about 77.5% of the voting Class A stock.
The revenue experienced a steady increase between 2018 and 2019, growing from $27.25 billion to $27.81 billion. In 2020, revenue was a noticeable decline to $25.28 billion, indicating a slowdown in growth. The trend reversed in 2021, with revenue bouncing back to $28.58 billion, surpassing 2019. The revenue continued its upward trajectory in 2022, reaching $30.15 billion, marking the highest revenue figure in five years. Despite the dip in 2020, Paramount’s revenue demonstrates a general growth trend over the five years.
Profits in 2018 were $3.46 billion but experienced a slight decline to $3.3 billion in 2019.
A more significant drop in profits occurred in 2020, falling to $2 billion.
In 2021, profits rebounded strongly to $4.38 billion, marking the highest profit figure in five years.
However, profits took a sharp downturn in 2022, decreasing to just $0.725 billion, representing a substantial decline compared to the previous years.
TV Media revenue decreased from $22.73 billion in 2021 to $21.73 billion in 2022, marking a decline of approximately 4.4%.
Direct-to-Consumer revenue experienced substantial growth, from $3.33 billion in 2021 to $4.9 billion in 2022, a rise of about 47.1%.
Filmed Entertainment revenue also increased, growing from $2.69 billion in 2021 to $3.7 billion in 2022, representing an increase of around 37.5%.
Eliminations representing intersegment transactions showed a slight increase in negative value from -$0.162 billion in 2021 to -$0.188 billion in 2022, indicating a higher level of intersegment revenue offsets.
While the TV Media segment experienced a decline, Direct-to-Consumer and Filmed Entertainment revenue streams showed significant growth, contributing to the overall increase in Paramount’s total revenue.
The number of Paramount+ subscribers in 2020 was 11.7 million.
There was a significant increase in subscribers in 2021, with the count rising to 32.8 million, representing a growth of approximately 180%.
The growth trend continued in 2022, with the subscriber count reaching 55.9 million, a further increase of about 70% compared to the previous year.
Paramount+ revenue in 2020 was $0.63 billion.
In 2021, the revenue more than doubled, reaching $1.35 billion, which indicates a significant increase in the platform’s performance.
The growth trend persisted in 2022, with revenue climbing to $2.77 billion, representing a growth of over 100% compared to the previous year.
Pluto TV’s revenue in 2020 was $0.56 billion.
In 2021, the revenue almost doubled, reaching $1.06 billion, which indicates a significant improvement in the platform’s financialperformance.
The growth trend continued, albeit at a slower pace, in 2022, with revenue rising to $1.11 billion, representing an increase of about 4.7% compared to the previous year.
In 2020, Paramount’s revenue of $25.28 billion was approximately 2.12 times its content costs of $11.93 billion.
In 2021, the revenue increased to $28.58 billion, while content costs rose to $14.7 billion. The revenue was about 1.94 times the content costs during this year.
Comparing both years, the revenue-to-content-costs multiplier decreased from 2020 to 2021, indicating that the company’s content costs have increased faster than its revenue. This could result from investments in original content, increased licensing fees, or other content-related expenses.
Paramount is a Media powerhouse comprising many media brands, which generated over $30 billion in revenue in 2022, comprising brands like CBS, Paramount, Nickelodeon, MTV, Paramount+, Pluto TV, and many others.
Frequently asked questions
Who owns Paramount now?
Skydance Corporation (formerly Paramount Skydance), controlled by the Ellison family through about 77.5% of its voting Class A stock.
Does Skydance own Warner Bros.?
Yes. Skydance completed its acquisition of Warner Bros. Discovery on 6 October 2026 (Form 8-K).
What brands does Paramount own?
CBS, MTV, Nickelodeon, Comedy Central, BET, Paramount+, Pluto TV and Paramount Pictures (2025 Form 10-K).
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur, HackerNoon and Search Engine People. Find him on LinkedIn and Substack. See how we source.
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