The news: Paramount Skydance reported modest revenue growth of 2% YoY in Q1 2026 to $7.3 billion, a marked improvement from the 6% decline recorded in the year-ago quarter. The company noted another strong quarter of revenues for its tentpole streaming service Paramount+, while its traditional TV media business struggled.

By the numbers:

• Paramount+ revenues: $1.97 billion, +17% YoY
• Paramount+ subscribers: $79.6 million, +2% YoY
• TV media revenues: $3.67 billion, -6% YoY for both advertising and affiliate revenues

Zooming out: Q1 marked another loss for Paramount’s TV media business, pointing to a broader trend of cord cutting. Paramount anticipates affiliate revenues will continue to struggle due to pay TV subscriber declines.