Streaming Surges While Linear TV Declines in latest report

Paramount recently released its latest earnings report, which showed a 4% decline in revenue for its linear TV unit. This dip reflects the challenges faced by traditional TV in today’s fast-changing landscape. Ad revenue for the unit also fell by 4%, while affiliate and subscription revenue saw a 7% decrease.

On the bright side, Paramount’s direct-to-consumer division, which includes Paramount+ and Pluto TV, had a stellar quarter. Ad revenue for this division went up by 9%, and subscription revenue saw a 7% increase. Paramount+ saw significant growth, adding 5.6 million subscribers and boosting revenue by 16%. The streaming service now boasts almost 78 billion subscribers in total.

In other news, YouTube has hit a major milestone with over one billion users tuning in to podcasts on the platform every month. In the US, YouTube is the go-to choice for podcast consumption, with users logging over 400 million hours of podcast content last year, primarily on living room devices like TVs.

On a different note, digital rights activists at Eko have raised concerns about Meta’s targeted advertising practices. Eko has filed complaints with data protection authorities in Germany, Spain, and Norway, alleging that Meta ignored user requests to opt out of data collection and targeted ads. Eko hopes that these complaints will prompt investigations by the respective watchdogs. Despite 5,000 members asking Meta to halt the processing of their personal data, the company reportedly continued to serve them targeted ads.

It’s definitely an interesting time in the world of streaming and digital content consumption. Stay tuned for more updates as the industry continues to evolve.