Paramount Global CFO Says Ad Market Soft But Not “Anything Close To” Covid Days
deadline.comAdvertising is soft, said Paramount Global’s top finance executive, but the company’s mix of broadcast, FAST, SVOD, and cable “puts us in a very powerful position” to weather the market, as does the sale of a bigger than usual chunk of inventory at the upfront. “The macro environment is going to continue to be a factor.
There are some who have suggested that the current environment is worse than what they saw in COVID. We don’t see anything close to that, to be clear,” CFO Naveen Chopra said at RBC’s media conference.
He’s referring to a comment by Warner Bros. Discovery CEO David Zaslav at the same venue yesterday that the ad market currently is worse than during Covid.
FAST stands for free ad-supported streaming TV, like Pluto TV. “If you were just selling cable network inventory, this would be a much, much more challenging environment,” Chopra said.
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