Paramount Discusses Future Plans Amid Economic Uncertainty

Los Angeles, CA — Chris McCarthy, co-CEO of Paramount, stated during a recent earnings call that the company plans to continue investing in 101 Studios, despite not pursuing an acquisition of the production company. This declaration comes after significant successes with shows like ‘1883’, ‘1923’, ‘Mayor of Kingstown’, and ‘Tulsa King’, prompting questions from a major shareholder about the lack of acquisition.

McCarthy emphasized that Paramount values its partnership with Taylor Sheridan, a prominent producer with an exclusive deal through 2028. “Taylor is a very gifted and unique creative, and we have a great relationship that has resulted in successful projects,” he said.

The earnings call revealed that while Paramount has invested in 101 Studios, McCarthy sees the current partnership as ideal, noting, “We think the incentives are based on where they should be. We plan to keep the current process and the current relationship as it is now, related to Taylor.” He refrained from disclosing specific investment figures.

McCarthy also mentioned the need for cost management, especially given the unpredictable macroeconomic environment. He pointed out that Sheridan’s projects are expensive and require a careful approach to budgeting. Co-CEO Brian Robbins noted that Paramount successfully reduced the average production cost of films by 35% over the past two years.

As Paramount prepares for its merger with Skydance, which is expected to close in the first half of this year pending FCC approval, McCarthy remains optimistic about the company’s future. He highlighted a new approach developed around Taylor Sheridan that has also helped attract other creative talent, leading to projects like ‘The Agency’ and ‘MobLand’, which set a record as the largest global premiere on Paramount+.

“We love the relationship with Taylor. We’re welcoming in new creatives, and we definitely will continue to use 101 as a preferred partner,” McCarthy said, underscoring the importance of collaboration in navigating the current economic landscape.