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Top-notch Stock to Watch: Paramount Global (PARA)

The rights to the most watched sports broadcasts in the world are owned by Paramount Global (NASDAQ: PARA). This helps the business maintain its popularity on cable networks and advertise its streaming app.

Top-rated sports broadcasts are also owned by Paramount Global, which also owns Nickelodeon, Comedy Central, and BET. The firm, in particular, broadcasts National Football League events in the US, including playoff and Super Bowl games.

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Additionally, it owns the rights to additional championships and Southeastern Conference college football games. In Europe, Paramount Global broadcasts more than 2,000 games annually from the Women’s National Football League, Italy’s Serie A, and the UEFA Champions League.

In addition, Paramount Global broadcasts the Masters PGA golf event, college basketball, the wildly popular annual NCAA March Madness tournament, and more.

All of these sports broadcasts contribute to Paramount Global’s success and aid in its international market growth. To include the Paramount+ streaming service with its cable offering, the company has teamed with the largest cable provider in Europe, Sky. Paramount+ debuted in the UK, Ireland, and South Korea during the previous quarter.

The streaming service will debut in Italy in September, followed later in the year by launches in Germany, Austria, France, and Switzerland. The fact that there is no expense associated with acquiring a new member is a key component of Paramount’s affiliate strategy. With the recent acquisition of the rights to broadcast the Indian Premier Cricket League (IPL) for the next five years, Paramount Global has the chance to further solidify its position in India.

As a result of many investors’ dissatisfaction with the slowdown in audience growth, Paramount Global shares are currently trading 40% below their 52-week highs. On the other hand, some significant investors believe that now is a good time to invest since they are optimistic about the company’s long-term potential.

Warren Buffett’s Berkshire Hathaway purchased 68.9 million shares in Paramount Global earlier this year. Additionally, following a recent portfolio update, the business increased its ownership of Class B shares of Paramount Global to approximately 13%, making it the largest stakeholder.

It should be mentioned that, in addition to the dynamics of the client base, additional indications of Paramount Global should be considered. The consumer-facing (DTC) category, in particular, has lost money during the last two quarters. The DTC segment’s losses are expected to peak next year, according to management.

Overall, constructing the infrastructure to host streaming platforms demands a significant capital commitment, but Paramount Global has the benefit of being nearly finished. Following that, operating expenses should be greatly reduced. This implies that the company’s revenues and earnings may increase.

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