Media giant Paramount Global (PARA) has stepped up its streaming ambitions with a new $1.5 billion deal with “South Park” creators Trey Parker and Matt Stone. Paramount has signed a new five-year deal that secures all previous episodes and 50 brand-new ones for Paramount+ over the next five seasons.
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According to the terms, Paramount will obtain exclusive global streaming rights to the entire South Park library, including the newly launched 27th season. New episodes will first air on its channel Comedy Central and then become available on Paramount+ the following day. Both Parker and Stone expressed gratitude for the renewed partnership, describing the deal as not merely a contract, but a renewed commitment to fans, their team, and ongoing creative collaboration.
Why the South Park Deal Matters for Paramount
South Park ranks among America’s most beloved animated TV series, focusing on the antics of four grade-school boys. The cartoon combines music, satire, and comedy in its storytelling and appeals to a large range of audiences. Previously, Warner Bros Discovery’s (WBD) HBO Max held streaming rights to South Park in the U.S., but those rights have now reverted to Paramount+. The news of Paramount’s deal coincided with the premiere of Season 27, ensuring both current content and the show’s older catalogue will be available on its platform.
This extension follows prolonged negotiations between the parties. South Park’s creators, through their company Park County and joint venture South Park Digital Studios, had been in legal disputes with Paramount’s incoming president, Jeff Shell, for interfering in negotiations with rival streaming giants, Warner Bros and Netflix (NFLX). Paramount’s potential merger with Skydance added further complications, as the latter objected to the earlier proposed terms valued at $3 billion for a ten-year period.
Is PARA Stock a Buy, Hold, or Sell?
Paramount continues to face industry-wide and company-specific challenges. The ongoing decline in traditional TV viewership has impacted advertising revenues. Meanwhile, its pending merger with Skydance and recent settlement related to the “60 Minutes” lawsuit with President Donald Trump have rattled the management and shareholders.
Owing to these issues, analysts remain cautious about Paramount Global’s long-term outlook. On TipRanks, PARA stock has a Moderate Sell consensus rating based on two Buys, seven Holds, and six Sell ratings. Also, the average Paramount Global price target of $11.92 implies 9.7% downside potential from current levels. Despite the issues, PARA stock has gained over 27% so far this year.
