David Ellison, now at the helm of Paramount, is making big changes. He's focusing on streaming and cutting costs. The company aims to make $30 billion by 2026. They also plan to save $3 billion, up from the earlier $2 billion target.

In the latest quarter, Paramount made $6. 7 billion. But they still lost $257 million. Losses are slowing down, though. Streaming is doing well, with revenue up by 17%. But TV ads and subscriptions are down by 12%.

Paramount+ now has 79. 1 million subscribers. That's up from last quarter. Ellison says they'll raise prices in early 2026. They're also spending more on content. Next year, they'll invest over $1. 5 billion in shows and movies.

Ellison is careful about buying other companies. He says they can build what they need. But they might buy others if it helps. He wants to mix tech and creativity. This could help Paramount compete with Silicon Valley firms.

There are big layoffs happening. About 2, 000 jobs will go. Another 1, 600 may be cut later. Some employees took buyouts to avoid returning to the office. Ellison says these cuts are needed for growth.

Ellison has been hiring big names. He got the Duffer brothers from Netflix. They created "Stranger Things. " He also hired Bari Weiss for CBS News. But Taylor Sheridan, who makes "Yellowstone, " is leaving for NBCUniversal.

DAVID ELLISON

Paramount's New Path: Ellison's Bold Moves and Challenges

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