Paramount Q4 Theatrical Revenue Plummets; Content Licensing Revenue Flat
February 25, 2026
Paramount Skydance Feb. 25 reported fourth-quarter (ended Dec. 31, 2025) theatrical revenue of $115 million, which is down from revenue of $414 million in the previous-year period.
Paramount Pictures’ top-grossing theatrical releases in the quarter included Regretting You, The SpongeBob Movie: Search for SquarePants and The Running Man. That compared with theatrical releases Smile 2, Sonic the Hedgehog 3 and Gladiator II in the previous-year period — the latter two among the top three grossing theatrical releases in the last 90 days of 2024.
Content licensing revenue — which includes fees earned from licensing film and television titles to third-party television stations, cable networks, and digital streaming platforms worldwide, as well as revenue from the retail distribution of movies and TV shows via digital download, video-on-demand (VOD), and physical media such as DVD and Blu-ray Disc — remained relatively flat at $2.1 billion, from $2.09 billion the year before.
Affiliate and subscription revenue increased 3% to $3.4 billion, from $3.3 billion.
Advertising revenue was $2.52 billion, down 10% from $2.77 billion.
For the fiscal year, theatrical revenue was $629 million, a drop of 22% from revenue of $813 million in 2024. Licensing revenue remained relatively flat at $5.9 billion, from $6 billion in 2024.
Speaking on the company’s fiscal call, CFO Dennis Cinelli said theatrical revenue in 2026 is expected to decline, adding that the studio business is in “a real rebuild phase,” with the box office not expected to improve until 2027.
“Even with the theatrical revenue up and down, we expect better cost management as well as more licensing deals to drive studio profitability up,” he said.
Paramount Skydance saw its overall quarterly operating loss balloon 155% to $573 million, from an operating loss of $223 million in the previous-year period. Revenue increased 2% to $8.1 billion, from $7.9 billion the year before.
Fiscal year revenue dipped 3% to $29.4 billion, from $30.3 billion in 2024.
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