Yahoo Finance Paramount Global (PARA), CBS Sports to Elevate Social Initiative
Paramount Global PARA-owned Content for Change and CBS Sports are collaborating to elevate social initiatives and showcase the impacts of National Football League ("NFL") teams and players in their communities.
The series of vignettes airing throughout CBS' Super Bowl season on THE NFL TODAY is a commendable effort to shed light on various social issues and the positive work being done by NFL teams.
The first vignette in the series featured Jacksonville Jaguars’ coach Tony Gilbert, highlighting Diversity in Education as part of the Jaguars' Inspire Change efforts.
The partnership focuses on diversity, mental health, community engagement and social justice and aligns with the broader goal of using storytelling to create positive change and shift narratives.
Paramount's commitment to diversity, equity and inclusion, as well as its expansion of BET's Content for Change initiative, reflects the dedication to countering bias, stereotypes and hate through its content and culture. This holistic approach to promoting inclusivity is essential in today's world.
The series will be available on Paramount Global and CBS Sports platforms, making it accessible to a wide audience.
Paramount Global Price and Consensus
Paramount Global price-consensus-chart | Paramount Global Quote
Paramount+ Goes Big on Sports Content to Boost Viewership
Paramount+, Paramount Global's streaming service, is betting on sports, with plans to stream more than 1,000 live events annually. The service has already secured streaming deals with several college and professional leagues.
In the second quarter, Paramount+ revenues grew 47% year over year, driven by subscriber growth and increased advertising revenues. Paramount+ subscribers reached approximately 61 million, with 0.7 million additions in the quarter.
Paramount+ carries exclusive rights to the most prestigious competition in soccer, the UEFA Champions League game.
UEFA Champions League Today, CBS Sports' live pre-match, halftime and post-match studio show, will stream on Paramount+ and air on CBS Sports Network, with every match on Paramount+ and selected matches airing on CBS Sports Network and CBS Sports Golazo Network, which is the free 24-hour soccer streaming network.
Apart from all UEFA matches and the NWSL, Paramount+ has English-language rights to five additional soccer properties. To begin, users can watch hundreds of Concacaf matches, including many Concacaf Nations League, Gold Cup, Champions League and World Cup Qualifying Matches.
Every year, live broadcasts of all 380 matches from Argentina's Primera Division, the country's top soccer league, will be broadcasted on the platform. Paramount+ will promote more than 360 games per year from Brazil's Campeonato Brasileiro Serie A soccer league and other sports.
Paramount+ platform includes games from the NCAA March Madness college basketball showcase tournament for basketball fans. The premier event in college basketball and any game broadcast on CBS is accessible on Paramount+.
Professional golf fans should consider a Paramount+ subscription, as the streaming service will include many tournaments. The Masters, one of the world's most prestigious professional golf tournaments, is at the top of the Paramount+ live sports list. The service also includes PGA TOUR coverage and the PGA Championship.
Zack Rank & Stocks to Consider
Shares of Paramount Global, which currently carries a Zacks Rank #5 (Strong Sell), have declined 24.1% year to date.
Some better-ranked stocks in the broader Consumer Discretionary sector are IMAX Corporation IMAX, JAKKS Pacific JAKK and Live Nation Entertainment LYV, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of IMAX Corporation have gained 29.7% in the year-to-date period. The Zacks Consensus Estimate for 2023 earnings is pegged at 86 cents per share, up 1.2% over the past 30 days.
Shares of JAKKS Pacific have gained 6.7% year to date. The Zacks Consensus Estimate for 2023 earnings is pegged at $3.77 per share, which has remained steady over the past 30 days.
Shares of Live Nation Entertainment have climbed 20% in the year-to-date period. The Zacks Consensus Estimate for 2023 earnings is pinned at $1.01 per share, which has remained constant over the past month.
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