David Ellison, the new CEO of Paramount, has shared his bold plan to bring the studio back to the top of Hollywood. After completing an $8 billion merger between Paramount and Skydance Media, Ellison announced major updates, including new sequels to popular movies like Top Gun 3, Star Trek, and Transformers. The goal is to make Paramount the best place for filmmakers and audiences worldwide.
Paramount’s New Strategy: More Theatrical Releases and Big Franchises
Ellison made it clear that Paramount will focus on theatrical releases instead of streaming-first movies. The studio plans to release 15 movies a year, eventually increasing to 20 films annually. This includes bringing back big franchises that have been quiet for years, like Star Trek, which hasn’t had a new movie since 2016.
“One of our biggest priorities is restoring Paramount as the No. 1 destination for the most talented artists and filmmakers in the world. Very simply, great filmmakers make great movies,” Ellison said during a press event at the Paramount lot in Hollywood.
Other franchises getting new attention include World War Z, Transformers, and Mission: Impossible. The studio also wants to make more horror films like A Quiet Place and Smile, as well as family-friendly movies similar to The Goonies and Night at the Museum.
Streaming and Sports: Paramount+ Gets UFC and More
While movies are a big focus, Paramount is also investing in streaming and live sports. The company signed a $7.7 billion deal with UFC to make Paramount+ the exclusive U.S. streaming home for major fights. CBS will also broadcast some events, giving Paramount a strong sports lineup alongside its movies and shows.
“He is literally a singular genius with a perfect track record. If we can make this his home as long as he wants to tell stories, we want to do that,” Ellison said about Yellowstone creator Taylor Sheridan, whose shows are a big draw for Paramount+.
The company is not planning to make cheap movies just for streaming. Cindy Holland, the new head of streaming at Paramount, said:
“Streaming movies are not a priority for me.”
Keeping Cable Networks and Betting on Family Content
Unlike other studios selling off cable channels, Paramount plans to keep MTV, BET, and Nickelodeon. Ellison believes these brands can still grow, especially with family content.
“Nickelodeon is also one of those. Kids and family is so important to the world, and making sure that we’re doing the right thing for Nick and that whole group of content is critically important to us as well,” Ellison said.
The studio also wants to avoid political divisions in its content, aiming to make movies and shows that appeal to all audiences.
Big Changes Behind the Scenes: Layoffs and AI
To save money, Paramount will cut $2 billion in costs, which likely means job cuts. However, the company will also use AI tools to help with visual effects and movie production—without replacing human filmmakers.
“We are going to get to the other side of the lake,” Ellison said, comparing Paramount’s challenges to crossing a difficult path.
With new leadership, big franchise plans, and a focus on theaters over streaming, Paramount is making a strong push to reclaim its spot as Hollywood’s top studio.
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Credits: Los Angeles Times, Forbes
