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Paramount Global Q2 DTC Subscribers At 64 Million; ‘Top Gun: Maverick’ Buoys Theatrical Revenue

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Paramount Global said Top Gun: Maverick powered a 126% surge in filmed entertainment revenue last quarter, surpassing Titanic to become the studio’s biggest domestic release of all time.Total DTC subscribers rose to nearly 64 million, reflecting the removal of 3.9 million subscribers in Russia.

Paramount+ Added 4.9 million subscribers.The  stock is down immediately following the report. Execs will hold a conference call at 8:30 ET.“Paramount continues to build momentum with the assets, strategy and ability to compete—and win.

said CEO Bob Bakish. “At the heart of that growth was our hugely popular content—from the cultural phenomenon and #1 movie in the world, Top Gun: Maverick, to the most popular show in the country, Yellowstone.

Our deep and growing library of valuable IP, coupled with the strength of our best-in-class assets, ensures we are well-positioned to continue to maximize value for our shareholders.”The company posted adjusted diluted EPS from continuing operations of 64 cents, down from 97 cents.

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