The move to combine the premium cabler with Paramount Global's flagship streaming service may result in 'cost savings in the $300-$400 million range,' a Wells Fargo analyst forecasts.
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Concluded Cahall: “If Paramount cuts half of Showtime’s selling, general & administrative, that’s around $200 million, plus additional direct-to-consumer cost actions could drive total cost savings in the $300-$400 million range, or around 5-6 percent of Paramount’s ‘22 estimated selling, general & administrative .”
Swinburne positively noted, however, that “content strength has helped Paramount continue to grow its streaming business while others are slowing,” adding that Paramount+ “has outperformed expectations and is well on its way to a 60 million-plus subscriber business and $4 billion-plus in revenue this year.”
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