The integration of Showtime will be a major contributor.
He anticipated $700 million in future annual expense savings.
Showtime has higher churn.
And its viewers tend to congregate around a handful of franchises that represent half of its content amortization expense.
Its resulted inleadership changesandsignificant layoffs there.
That still remains a bit fuzzy but 2024 is the important inflection point.
He see improvement in advertising and expects a rebound in the back half of the year.
The execs stressed the businesss new focus on multiplatform and franchise content that drives viewers and revenue.
So the company has beenparing down its slate.
Global DTC subs passed 77 million.
Par is the latest company to announce a big restructuring charge for content writedowns after hits by Warner Bros.
Discovery, Disney, Starz and AMC Networks.
