Naveen Chopra Jennifer Maas ViacomCBS Digital 2024 Naveen Chopra Jennifer Maas

Paramount Expects DTC Content Spend to Increase to More Than $6 Billion in 2024

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Jennifer Maas TV Business WriterParamount Global (formerly known as ViacomCBS) expects to direct-to-consumer content spending to increase to more than $6 billion in 2024, the company revealed Tuesday during its Q4 earnings and streaming investor day presentation.This is a jump from its previous guidance, which was that Paramount expected streaming content spend to exceed $5 billion 2024, including $4 billion of expenses associated with its DTC services.

In 2021, Paramount spend $2.2 billion on direct-to-consumer content.Additionally, Paramount CFO Naveen Chopra said that the company formerly known as ViacomCBS is increasing its DTC revenue goal to over $9 billion for 2024.

Last year, Paramount said it anticipated global streaming revenue to exceed $7 billion in 2024, with $6 billion of that revenue coming from its DTC segment, and the remainder being digital video advertising, which is now categorized by the company under its TV media segment.

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