Paramount Global, fresh off its $8.4 billion merger with Skydance Media, is accelerating its theatrical film production while retaining its legacy cable networks, according to reports stemming from announcements at a strategic media event hosted at the Paramount Pictures lot, as cited by Reuters. Under the leadership of President Jeff Shell and CEO David Ellison, the company emphasized that brands like Nickelodeon, MTV, and BET will continue to play an active role in its ecosystem rather than being divested, with Shell underscoring that they are not viewed as “declining linear assets” but as brands to be redefined.
In a move to scale up content release, co-chair of Paramount Pictures studio Josh Greenstein revealed plans to raise the annual film output from eight this year to 15 quickly, with a long-term goal of reaching 20 theatrical releases per year. The expanded slate will include beloved franchises such as Star Trek and Transformers, alongside original titles like the James Mangold–helmed High Side starring Timothée Chalamet, and more family-centric fare reminiscent of A Night at the Museum or The Goonies.
Complementing its theatrical ambition, Paramount’s forthcoming content strategy includes a calculated pivot toward series investment, following feedback from veteran executive Cindy Holland. She cautioned that while the film slate is vital to brand building, streaming platforms and theatrical must be supported by a robust pipeline of original series across genres to meet evolving consumer demand and drive subscriber engagement.
The market responded positively to the bold content roadmap. As reported by Broadcast Now, Paramount’s shares surged 36% following the announcement, reflecting investor confidence in the new leadership’s vision. Ellison himself framed the strategy as a transformation: positioning Paramount not only as a haven for top-tier filmmaking talent but also as a frontrunner in harnessing emerging tools like artificial intelligence to enhance storytelling.
Together, these developments signal a deliberate, multi-pronged strategy. By doubling down on both film production and premium series, and by reframing its cable brands as growth assets, Paramount is aligning itself for long-term impact in a highly fragmented media landscape.
Related News
