Streaming Profitability Challenges: Paramount Global faces significant hurdles in achieving sustained profitability for its direct-to-consumer streaming services (Paramount+, Pluto TV) due to high content acquisition and production costs, intense competition, and aggressive marketing expenses in a saturated market.

Linear TV Business Erosion: The continued secular decline in linear television viewership and advertising revenue for its traditional broadcast (CBS) and cable networks (e.g., MTV, Comedy Central, Nickelodeon) pressures its legacy cash flow generation and overall financial performance.

Significant Debt Burden: The company carries a substantial amount of debt, which can limit its financial flexibility, increase interest expenses, and potentially hinder investments in growth initiatives or create refinancing challenges, especially in a high-interest-rate environment.