Paramount Global — Nov 2, 2023 release

revenue per subscriber (“ARPU”) as total Paramount+ revenues during the applicable period divided by the average of Paramount+ subscribers at the beginning and end of the period, further divided by the number of  Q3 2023 EARNINGS – SEGMENTS DIRECT-TO-CONSUMER OVERVIEW Paramount continues to progress on the path to streaming scale and profitability. DTC remains on track to drive significant earnings improvement in 2024. Q3 FINANCIALS â–ª Revenue increased 38% year-over-year. – Subscription revenue grew 46% to $1.3B, driven by subscriber growth and pricing increases for Paramount+, and revenue from pay-per-view events. – Advertising revenue rose 18%, reflecting growth from Paramount+ and Pluto TV. â–ª Global viewing hours across Paramount+ and Pluto TV grew 46%. – Paramount+ revenue grew 61%, driven by subscriber growth and increased advertising revenue. Special Ops: Lioness NCIS â–ª Paramount+ subscribers reached more than 63M, with 2.7M net additions in the quarter. â–ª Paramount+ global ARPU expanded 16% year-over-year. â–ª Adjusted OIBDA improved 31% as higher revenue more than offset incremental costs to support the growth of Paramount+. The Chi SpongeBob SquarePants – The company now forecasts full-year DTC losses in 2023 will be lower than in 2022, with DTC losses in Q4’23 similar to Q4’22. Three Months Ended September 30 $ IN MILLIONS 2023 2022    $ B/(W) % Revenue $ 1,692 $ 1,226 $ 466 38 % â–ª Advertising 430 363 67 18 â–ª Subscription 1,258 863 395 46 â–ª Licensing 4 — 4 n/m Expenses 1,930 1,569 (361) (23) Adjusted OIBDA $ (238) $ (343) $ 105 31 % $ IN MILL