At Paramount, Waiting for the Other Shoe To Drop

Paramount, like many other legacy media companies, faces a number of economic and other challenges:

Economic Challenges:

• Declining viewership: Traditional television viewership has been declining in recent years, impacting Paramount’s revenue from advertising and subscription fees.
• Increased competition: Streaming services like Netflix, Disney+, and HBO Max have become major competitors, vying for viewers and advertising dollars.
• Rising content costs: The production of high-quality content, including movies, TV shows, and original series, is becoming increasingly expensive.
• Economic uncertainty: Global economic factors, such as inflation and recessionary fears, can affect consumer spending and advertising budgets.

Other Challenges:

• Changing consumer habits: Consumers are increasingly demanding on-demand access to content, which can put pressure on traditional linear television models.
• Technological advancements: The rapid pace of technological change can make it difficult for companies to keep up with the latest trends and innovations.
• Regulatory challenges: Media companies often face regulatory scrutiny, including antitrust laws and content restrictions.
• Talent acquisition and retention: Attracting and retaining top talent, including creative professionals and technical experts, can be a challenge.

Paramount, like other media companies, is working to address these challenges by investing in streaming services, diversifying revenue streams, and adapting to changing consumer preferences. However, the industry remains highly competitive and subject to economic and technological uncertainties.

According to a statement, “Jeremy Murphy is a sarcastic, embittered veteran of the media industry. Founder of 360bespoke, a respected boutique PR agency in New York, Murphy handles a full roster of clients in the lifestyle, beauty, fashion, and start-up fields. Previously, he was Vice President of Communications at CBS, where he worked for 14 years. There, he oversaw PR for many of its divisions and created its glossy magazine Watch. Murphy started as a journalist, working with Knight Ridder newspapers and Mediaweek. He is a graduate of Florida Atlantic University and lives in New York with his cat, Champers.”