Paramount CEO David Ellison delivered a clear message Thursday following the company’s $8.4 billion merger with Skydance: “We’re not going to be afraid of technology; we’re going to embrace it.”
During a press conference in New York, just hours after the merger closed, Ellison outlined a tech-forward strategy aimed at revitalizing the company’s streaming business. Strategic options on the table include joint ventures and even a potential merger of Paramount+ and Pluto TV once their tech stacks are integrated over the next 12 to 18 months.
Ellison highlighted Paramount’s streaming strengths, pointing to hit programming such as Taylor Sheridan’s series and the NFL, calling streaming “critical for the success of the business” amid the decline of linear cable. He confirmed plans to invest heavily in content to remain competitive.
This was the first media appearance for Ellison and four other top executives since July 2024, after months of regulatory reviews. During that time, reports surfaced about Paramount engaging with Warner Bros. Discovery, NBCUniversal, and other major streaming players for possible partnerships—though Ellison confirmed there are “no commitments at this time.”
Paramount+, which evolved from CBS All Access and integrated Showtime, closed Q2 with 77.7 million subscribers, down from 79 million earlier in the year. Meanwhile, Pluto TV, a pioneer in FAST streaming since 2014, has lost ground to competitors like Tubi and the Roku Channel.
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Gerry Cardinale, founder of RedBird Capital and a backer of Skydance, emphasized that content monetization must evolve. “Everyone talks about content being king,” he said, “but unless you reimagine how this content is monetized, you’re not gonna get there.”
Jeff Shell, Paramount’s President, noted that the company’s infrastructure needs significant upgrades, calling improvements to data systems and backend operations “very necessary.” Andy Gordon, COO and Chief Strategy Officer, added that user interfaces for Paramount+ and Pluto will undergo a major overhaul to enhance user experience.
Ellison stressed that Hollywood must match Silicon Valley’s tech standards, noting that Paramount currently runs three streaming services with three separate operating systems on multiple clouds—an “inefficient” setup. “Unless you can build a tech product that is truly competitive,” he warned, “you can’t compete.”
