Home / Business and Economy / Paramount Streaming Chief Exits as Skydance Takeover Closes
Paramount Streaming Chief Exits as Skydance Takeover Closes
4 Aug
Summary
- Paramount streaming chief Tom Ryan to depart company
- Pluto TV founder led Paramount's streaming business
- Paramount+ reaches 78 million subscribers, achieves profitability
As Skydance prepares to close its acquisition of Paramount Global this week, Paramount's streaming chief Tom Ryan has announced his departure from the company. Ryan, who founded the free ad-supported streaming service Pluto TV and has been leading Paramount's streaming business, will be exiting his role but will continue as an advisor to help ensure a seamless transition.
During Ryan's tenure, Paramount+ has seen remarkable growth, reaching 78 million subscribers and becoming one of the top four SVOD platforms worldwide. The streaming service has also achieved profitability milestones ahead of schedule, generating $2.2 billion in revenue in the most recent quarter, up from $1.8 billion for the entire year when the division was launched less than five years ago.
In his farewell message, Ryan expressed deep gratitude and pride for the team he has worked with, as well as the success of Pluto TV and Paramount+, which he helped transform from bold ideas into global powerhouses. He noted that the journey has been extraordinary, from Pluto TV's early days in a West Hollywood warehouse to the incredible launch and scale of Paramount+.
