Paramount Expects to Spend $6 Billion-Plus on Streaming Content in 2024

Paramount Global (formerly known as ViacomCBS) expects to increase direct-to-consumer content spending to more than $6 billion in 2024, the company revealed on Tuesday during its Q4 earnings and streaming investor day presentation.This is a jump from its previous guidance, which was that Paramount expected streaming content spend to exceed $5 billion in 2024, including $4 billion of expenses associated with its Dtc services. In 2021, Paramount spent $2.2 billion on direct-to-consumer content.Additionally, Paramount CFO Naveen Chopra said the company formerly known as ViacomCBS is increasing its Dtc revenue goal to over $9 billion for 2024. Last year, Paramount said it anticipated global streaming revenue to exceed...