Ellison outlines Paramount strategy after Q3 results | JQJO

David Ellison used Paramount’s first earnings report under his leadership and Skydance’s ownership to outline a sweeping plan. Q3 revenue was $6.7 billion, with $324 million in operating income and a $257 million net loss as losses narrowed post-takeover. Direct-to-consumer rose 17% to $2.1 billion and Paramount+ reached 79.1 million subscribers; TV fell 12%. Ellison targets $30 billion revenue in 2026, $3 billion in cost savings, and a strategic review starting with Telefe. Content spending will include incremental investments topping $1.5 billion next year, layoffs will continue, and Paramount+ prices will rise in early 2026.