Paramount Global: a turnover of $29.65bn (-2%) & net loss of $608m in 2023

Paramount Global, owner of the CBS audiovisual group and the Paramount+ streaming platform, posted a turnover of $29.652bn (€26.867bn) in 2023, down 2% on 2022 ($30.154bn/€28.247bn), according to the financial results published by the American conglomerate on 28/02/2024.

Paramount Global reported a net loss of $608m (€551m) in 2023, compared with a net profit of $1.1bn (€1.03bn) in 2022. The conglomerate also posted an operating loss of $451m (€409m) in 2023 (+$2.34bn/€2.19bn in 2022).

The American conglomerate recently laid off "hundreds of employees", as Bob Bakish, the group's CEO, announced in an internal letter on 13/02/2024. Around 800 employees were affected, or 3% of Paramount Global's total workforce, according to several US media outlets. "These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead," explained Bob Bakish. Bakish had already announced in a previous internal letter that Paramount Global would be reducing its global workforce as part of its "revenue growth strategy" on 25/01/2024.

Paramount holds the…