Paramount Reports Q1 Growth and Progress on Warner Bros. Discovery Acquisition
Paramount Skydance Corporation announced a 2% year-over-year revenue increase in Q1 2026 and confirmed progress toward acquiring Warner Bros. Discovery, with the deal expected to close in late Q3 2026.
Paramount Skydance Corporation reported a 2% year-over-year increase in revenue for the first quarter of 2026, reaching $7.35 billion. Operating income stood at $616 million, with an operating margin of 8.4%, and adjusted EBITDA rose by 59% to $1.16 billion. The company's streaming service, Paramount+, experienced a 17% growth in revenue and added 700,000 subscribers, bringing the total to 79.6 million.
CEO David Ellison highlighted the company's ongoing efforts to acquire Warner Bros. Discovery, stating that they are "making great progress" toward closing the deal by late Q3 2026. Ellison emphasized that the acquisition would serve as a "powerful accelerant" to Paramount's strategy, enhancing their ability to create compelling stories and experiences. He reiterated plans to release 30 theatrical films annually and to focus on producing premium, high-quality content across film, television, and streaming platforms.
Ellison also announced plans to invest more in technology, including an overhaul of Pluto TV later this year, aiming to strengthen the company's position in the competitive media landscape.