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Paramount Targets $30B in Revenue by 2026 Under New CEO Ellison
10 Nov
Summary
- Paramount aims for $30B in revenue by 2026, up from $2B in cost savings
- Ellison launches "comprehensive strategic review" to divest non-core assets
- Paramount begins major layoffs to realign workforce around new priorities
In November 2025, Paramount's new CEO David Ellison is wasting no time in charting a bold path forward for the entertainment company. Ellison, who assumed control of Paramount in early August 2025 alongside his Skydance ownership, has unveiled a comprehensive strategic plan to transform the beleaguered media giant.
Paramount's latest quarterly earnings report, the first under Ellison's leadership, reveals the company's lofty targets. Ellison has set a goal of reaching $30 billion in revenue by 2026, a significant increase from the previously announced $2 billion in cost savings. To achieve this, Ellison has launched a "comprehensive strategic review" to determine whether to divest other non-core assets, starting with the company's Telefe operations in Argentina.
Alongside these financial objectives, Ellison has also emphasized the need to "supercharge" Paramount's creative capabilities and scale its direct-to-consumer business, which he has identified as the top priority. The company has already begun a major round of layoffs, with an expected 2,000 roles to be eliminated in the coming months. Ellison has assured staff that these changes are necessary to position Paramount for long-term success in the rapidly transforming media landscape.
