PARAP - Paramount Global (PARA) Morgan Stanley Technology Media and Telecom Conference (Transcript)
2024-03-06 15:16:03 ET
Paramount Global (PARA)
Morgan Stanley Technology, Media and Telecom Conference
March 06, 2024 11:00 AM ET
Company Participants
Naveen Chopra - Executive VP & CFO
Conference Call Participants
Benjamin Swinburne - Morgan Stanley
Presentation
Benjamin Swinburne
Good morning, everybody. I'm Ben Swinburne, Morgan Stanley's media and entertainment analyst. A quick disclosure, please note that important disclosures, including my personal holdings disclosures and Morgan Stanley disclosures, all appear as a handout available in the registration area and on the Morgan Stanley public website.
Really happy to welcome to the conference from Paramount Global, Naveen Chopra, the CFO. Naveen, thanks for coming. Good to see you.
Naveen Chopra
You, too. Thanks for having us.
Benjamin Swinburne
Absolutely. So last week, you guys reported fourth quarter results and actually had a lot of pretty big announcements and initiatives as you think about driving the business in '24 and beyond, particularly around streaming and streaming profitability. I'm wondering if maybe we could start with those key points that investors should be thinking about, particularly around the changes that you and Bob talked about last week to drive the business.
Naveen Chopra
Yes, sure. I think it's important to put it in the context of, call it, the broader journey that we're on, which is continuing to transition our business. Obviously, as consumer habits are evolving, as the industry is evolving, Paramount also has to evolve. For us, that really means maximizing the earnings and free cash flow generation from, call it, the traditional part of our business while also turning streaming into the future driver of earnings and cash flow....
Paramount Global (PARA) Morgan Stanley Technology, Media and Telecom Conference (Transcript)