Billionaire Warren Buffet has become Paramount’s biggest outside investor. Now he owns an 11% stake in the company. In the first quarter of the year, Warren invested US$ 2.6 billion in the brand, causing the company to grow 15% in the United States.
Warren is known as one of the greatest investors of all time. His association with Paramount made other investors look at the company in a different, more ambitious way. The billionaire is known for pumping large amounts of money into businesses with high profit prospects, which could be a good sign for other investors in the market.
Currently, Paramount is trying to develop further in the market with its streaming service, Paramount+. According to Variety magazine, 85% of the company’s revenue in the first three months of the year comes from its TV, movie and licensing businesses. The balance was not enough to please investors so far.
The platform got a total of 6.8 million subscribers between January and March. To increase growth, the company can draw on more than $5 million in cash for investment. Currently, the market value of Paramount is 21 billion.
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