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There was also strong growth in Adjusted OIBDA across Panama, Costa Rica, and the Caribbean regions. The company repurchased 5% of outstanding shares and expanded its buyback authorization.

Global viewing hours across Paramount+ and Pluto TV grew 46%, with DTC-adjusted OIBDA improved by 31%. The company now forecasts DTC losses peaked in 2022.

Reported $4.8 billion in revenue, $81 million in operating income and $1.8 billion in adjusted OIBDA in 2021. In the fiscal year, double-digit revenue growth was driven by acquisitions.

The company saw its revenues drop by 12% overall in Q2 to US$2.541 billion as the COVID-19 pandemic hit ad sales in particular. Operating income before depreciation and amortization (OIBDA) dropped by 11% to US$1.127 billion with a particular hit from international markets.

Japan’s leading multiplatform entertainment powerhouse, announced that Board Director and Operating Officer Hiroyuki Fukuda will now oversee the International Business Development division for Nippon TV.