David Ellison tells Paramount staff that tech is key to winning

David Ellison emailed staff after Paramount roughly met fourth-quarter estimates, saying the company will prioritize investments in technology and data to strengthen its direct-to-consumer streaming offering.

David Ellison, CEO of Paramount Skydance, sent a memo to employees after the company roughly met Wall Street expectations for the fourth quarter. He thanked staff for recent progress and said Paramount will prioritize technology and data to improve the user experience. The memo follows moves to expand the role of the company’s streaming data and insights team. Paramount is also exploring product changes such as adding short-form video and interactive features to its streaming services. Key points: - Ellison wrote that progress over the past 6+ months reflects employees' work and recent business reorganizations. - He said Paramount is prioritizing investments in advanced technology and data capabilities to strengthen the direct-to-consumer offering, and that more details will be shared in the coming months. - The company roughly met analyst expectations for the quarter; full-year revenue was $28.89 billion, just under an estimate of $28.95 billion. - Paramount+ had 78.9 million paid subscribers, up from 77.9 million the prior quarter and 4% higher year-over-year. - Paramount’s product chief reported the streamer added about 1 million customers on the first day it carried UFC rights in the US, as previously reported. - The article mentions Paramount’s ongoing effort to buy Warner Bros. Discovery and recent executive moves, including hiring Cindy Holland and the impending departure of creator Taylor Sheridan. Summary: Ellison framed technology and data as central to Paramount’s growth while also emphasizing storytelling and creative talent. The company reported results roughly in line with expectations and modest subscriber growth for Paramount+. Ellison said the company will make meaningful investments in innovation and plans to share more details in the coming months. Paramount’s larger pursuit of Warner Bros. Discovery remains an ongoing strategic initiative.