Yahoo Finance Paramount (PARA) to Adapt Rebecca Serle's One Italian Summer
Paramount Global PARA owned Paramount Pictures recently won the film rights to One Italian Summer in a competitive bid.
Rebecca Serle’s book centers on the relationship between Katy and her mother, Carol. The novel is about a young woman who runs into the 30-year-old version of her late mother during a trip to the Amalfi Coast. The two planned to take this trip to the Amalfi Coast together but Carol passed away right before they were supposed to leave.
This is not the only book of Serle’s that’s getting adaptation treatment. Another one of her novels, In Five Years, about a lawyer who thinks she’s got everything figured out but wakes up five years in the future married to a different guy in a different apartment, is also getting adapted.
Paramount Global Price and Consensus
Paramount Global price-consensus-chart | Paramount Global Quote
Paramount Global’s Focus on Franchise Model to Boost Top Line
In 2023, management is looking to boost the top line by using the franchise model. Management believes that the franchise model is already a proven profit-making model and it wants to continue with it.
Paramount Global has already started investing in franchises and the franchises have already received overwhelming responses from the viewers. Some of the key franchises are Yellowstone, Teen Wolf and many more.
Yellowstone is already a hit franchise, the #1 show with total 11.6 million viewers of the latest season. It is available in 48 countries in Paramount’s O&O properties. This series generated $150 million in global consumer spending in 2022.
The Teen Wolf series originally aired from 2011 to 2017, when the streaming media was not as popular as today. Despite that, the series was a hit and was seen by millions. Paramount is looking to bring back this series and cater to an established audience.
Big ticket franchise films, slated to release in 2023, are Mission Impossible, Scream, Transformers, Paw Patrol, Indiana Jones, Dungeons & Dragons movie, The Killer and many more.
Paramount is looking to boost the top line with these franchise shows and movies in the coming quarters. Franchise models are popular because these not only create a huge audience but also decrease the overall cost compared with producing new films and shows.
Paramount Global declared a quarterly dividend of 24 cents per share on its Class A and Class B common stock. The dividend will be paid out on Apr 3, 2023.
This Zacks Rank #4 (Sell) company will raise the monthly subscription price for its rebranded streaming service Paramount+ with Showtime in the third quarter of 2023. The cost of the advertising-free premium streaming plan will rise from $9.99 per month for Paramount+ to $11.99 for Paramount+ with Showtime, while the essential plan with advertising will see a price hike from $4.99 a month to $5.99.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Warner Bros. Discovery WBD announced an increase in HBO Max’s ad-free subscription fee in the United States by $1 to $15.99 plus taxes a month, applicable from Feb 11. This makes HBO the second most expensive OTT platform after its rival Netflix NFLX, whose monthly plans are at $19.99.
Last year, Disney DIS also increased the price of its ad-free streaming service from $7.99/month to $10.99/month and launched the ad-supported version of Disney+ at $7.99/month.
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