Streaming momentum lifts Paramount Skydance's 2026 EBITDA target to $3.9B

summarizeSummary

Paramount Skydance posted Q2 2026 adjusted EBITDA of $1.1 billion, up 27% year-over-year, and lifted its full-year EBITDA guidance to $3.8–$3.9 billion. Paramount+ subscribers climbed to 81.6 million, and the company called out strong upfront advertising commitments.

check_boxKey Events · Earnings and Guidance · PSKY

• Q2 Adj. EBITDA Jumps 27%

  Adjusted EBITDA reached $1.1 billion in Q2 2026, up from $863 million in the prior-year period, with margin expansion to 15.9%.

• Full-Year Guidance Raised

  Management increased 2026 adjusted EBITDA guidance to $3.8–$3.9 billion (12.8% margin), up from the prior $3.8 billion, and expects free cash flow conversion of at least 10%.

• Paramount+ Subscribers Hit 81.6M

  The streaming service added roughly 2 million subscribers in Q2, reaching 81.6 million globally, with record retention and 16% year-over-year revenue growth.

• Upfront Ad Commitments Surge

  The company's upfront advertising event delivered double-digit growth in commitments, the strongest since the CBS-Viacom merger, reflecting cross-platform strength.

auto_awesomeAnalysis · PSKY · Technology

A 27% year-over-year surge in adjusted EBITDA to $1.1 billion underscored a solid Q2 for Paramount Skydance, fueled by subscriber gains at Paramount+ and margin improvement across all segments. That performance gave management the confidence to raise full-year 2026 adjusted EBITDA guidance to $3.8–$3.9 billion, reinforcing the standalone strategy even as the company works toward closing the Warner Bros. Discovery merger. Paramount+ added 2 million subscribers, reaching 81.6 million, while posting record retention and double-digit revenue growth. The results show that content investments and cost efficiencies are translating into measurable financial progress—an essential proof point with antitrust litigation underway and a trial date set for March 2027.