The Biggest Thing Holding Paramount+ Back From Profits Right Now
Despite a strong push across the streaming industry toward profitability, Paramount Global's (NASDAQ: PARA) direct-to-consumer segment hasn't shown much improvement.
Through the first half of 2023, Paramount's adjusted operating income from streaming was relatively flat. While it has managed to grow its streaming subscribers as competitors fall, the cost of adding new subscribers is proving to be very expensive. In order for Paramount+ to start generating meaningful profits for the media company, it needs to solve one of its biggest problems.
Paramount needs to get a grip on its subscriber churn.
Source Fool.com
