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Their Q1 earnings call this morning:
Net loss of 1.1 billion
The dropped their quarterly dividend from $0.24 a share to $0.05
And the stock price itself???
As of this writing PARA stock has lost over 28% of its value.
*
That said, if you want to own studio stock, it’s a lot cheaper to do so today…
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They went heavy into streaming original content like Disney and so many others to steal market share from Netfilx and it has blew up in their faces. All of these studios are losing money on streaming.
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And they’re going to keep paying for awhile. Paramount and WBs financials are awful.
But the big problem is, none of them work for style for the consumer- they work for Wall Street. And if they don’t hit the quarterly estimates…
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I’ve been reading a lot of people claiming the current drop in share price is from the strike… nope - it’s from their just released quarterly financials .
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That is true every streamer has lost money this quarter except for Peacock for some reason. We will see some big cut backs on original content now. This may be the end of the resurgence of television.
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I certainly think it’s going to force a change. Network TV had commercials to offset expense - whereas streamers required people to pay in - but as NF lead the charge to front load content, everyone else tried to catch up and way too much money was spent.
network TV needs a lot of improvement to keep up to increase ad revenue, and the studios (unfortunately) need to scale back how much of their stuff goes direct to streaming.
The up side for the studios, the next fiscal quarter will probably show far less losses (if not outright profit) as they stop paying to create content.
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