Paramount Pictures

Overview

Paramount Pictures is a major American film studio and the second-oldest film studio in the United States still in continuous operation. Founded in 1912 as the Famous Players Film Company by Adolph Zukor, the studio has operated from its 65-acre lot on Melrose Avenue in Hollywood since the 1920s. Paramount is the only major studio still headquartered within the Hollywood district of Los Angeles.

In August 2025, Skydance Media completed its $8 billion merger with Paramount Global, creating Paramount Skydance Corporation (Nasdaq: PSKY). David Ellison serves as chairman and CEO, with Jeff Shell as president. The company is now merging with Warner Bros. Discovery in a $110 billion transaction expected to close by September 2026, which would unite Paramount Pictures and Warner Bros. Pictures under the same corporate roof. Ellison has pledged to release 30 films theatrically per year across both studios, with a minimum 45-day exclusive theatrical window.

Paramount grew its theatrical slate from 8 films in 2025 to 15 in 2026. Q1 2026 studio revenue reached $1.3 billion, up 11% year-over-year, driven by Scream 7 ($122 million domestic, $208 million worldwide, the best in the franchise's history) and Skydance licensing revenue consolidation.

History

Founding and Golden Age (1912 to 1960s)

Adolph Zukor founded the Famous Players Film Company in 1912 with the strategy of bringing established stage actors to the screen. The company merged with Jesse L. Lasky's Feature Play Company in 1916 and acquired the Paramount distribution company, eventually adopting the Paramount name. The studio's mountain logo, one of the most recognized corporate symbols in entertainment, was introduced in 1914.

Paramount dominated Hollywood's golden age with directors including Ernst Lubitsch, Billy Wilder, Alfred Hitchcock, and Cecil B. DeMille. The studio produced Sunset Boulevard (1950), Rear Window (1954), The Ten Commandments (1956), and Psycho (1960).

New Hollywood and Modern Era (1970s to 2010s)

In the 1970s, Paramount led the New Hollywood era with The Godfather (1972), Chinatown (1974), and Saturday Night Fever (1977). The modern Paramount produced franchise properties including Mission: Impossible (1996 to present, nearly $4 billion worldwide across seven films), Transformers (2007 to present, $5 billion worldwide), Star Trek (2009 to 2016), and Top Gun: Maverick (2022, $1.49 billion worldwide).

Paramount Skydance Era (2024 to 2026)

Skydance Media and Paramount Global announced their merger agreement on July 7, 2024. After over a year of negotiations, regulatory approvals (including the FCC's July 24, 2025 approval), and Shari Redstone's exit from National Amusements Inc., the $8 billion deal closed on August 7, 2025. The merged company trades on Nasdaq as PSKY.

David Ellison restructured Paramount into three divisions: Studios, Direct-to-Consumer, and TV Media. Dana Goldberg and Josh Greenstein were appointed co-chairs of Paramount Pictures. At CinemaCon 2026, Ellison declared "the Paramount lot is alive again" and committed to 15 theatrical releases per year with minimum 45-day exclusive theatrical windows and SVOD access at 90 days.

In February 2026, Paramount Skydance signed an agreement to acquire Warner Bros. Discovery for $31 per share, valuing WBD at approximately $77 billion. WBD shareholders approved the merger on April 23, 2026. The DOJ closed its antitrust investigation on June 12, 2026, determining the transaction is "not likely to result in harm to competition." The deal is on track to close by September 2026.

Studio Facilities

The Paramount Lot

The Paramount Pictures lot covers approximately 65 acres in Hollywood and is a designated Los Angeles Historic-Cultural Monument. The lot contains 29 sound stages totaling over 360,000 square feet, ranging from 5,546 sq ft to 18,772 sq ft. Grid heights range from 25 to 40 feet. The largest stage (Stage 31) measures 247 feet by 76 feet with a 34-foot grid height and includes a basement.

The lot includes the famous New York Street backlot, post-production facilities, and historic buildings dating to the silent era. Preapproved redevelopment plans (the Paramount Pictures Master Plan, approved by the City of Los Angeles) could add up to 1.9 million square feet of new stage, production office, support, office, and retail space, with a net increase of approximately 1.4 million square feet and 3,970 new parking spaces, guided through 2038.

Post-Merger Real Estate Strategy

With $79 billion in debt from the Warner Bros. Discovery acquisition, Paramount is consolidating studio operations. The plan is to keep both studios operating initially, each releasing about 15 films per year. The long-term goal is to consolidate most studio operations around the Warner Bros. lot in Burbank, while leasing out space at the historic Melrose Avenue lot for commercial offices, retail, and film productions. Paramount would not demolish its celebrated lot because of restrictions on historic buildings.

Notable Subsidiaries and Labels

• Paramount Animation: produces animated features
• Paramount Players: genre and youth-focused content label (operations folded into Paramount Pictures Motion Picture Group in March 2022, but continues as a releasing label)
• Miramax: 49% stake; first-look deal for genre and prestige content
• Republic Pictures: classic film library, revived as a label
• Paramount+: the studio's streaming platform (part of the Direct-to-Consumer division)
• Skydance Animation: animation division from the Skydance merger

What Filmmakers Should Know

Current Corporate Structure

Paramount Pictures operates within Paramount Skydance Corporation's Studios segment. Dana Goldberg (co-chair of Paramount Pictures and chair of Paramount TV) and Josh Greenstein (co-chair and vice chair of platforms) run day-to-day operations. The studio develops and acquires projects through internal development, producer deals, agency submissions, and festival acquisitions.

2026 Slate and Strategy

Paramount's 2026 releases include Billie Eilish: Hit Me Hard and Soft: The Tour (May 8, directed by James Cameron and Billie Eilish, shot with new 3D camera technology), Scary Movie (June 5, starring Marlon and Shawn Wayans, Anna Faris, and Regina Hall), Jackass: Best and Last (June 26), Mr. Irrelevant (December 25, starring David Corenswet and Michael Shannon), and a Ti West-directed A Christmas Carol starring Johnny Depp.

Upcoming franchises in development include a new Top Gun sequel, Star Trek return, Teenage Mutant Ninja Turtles, Sonic, Paranormal Activity, Call of Duty film, and new R-rated comedies.

Theatrical Window Policy

Under David Ellison, Paramount has committed to a minimum 45-day exclusive theatrical window for all releases, with SVOD access opening at 90 days. This is a firm policy, not a flexible guideline.

How to Pitch

Paramount does not accept unsolicited submissions. Projects reach the studio through:

1. Internal development through the studio's creative executive team
2. Producer deals with established production companies
3. Talent agency representation through CAA, WME, UTA, and ICM
4. Festival acquisitions by the studio's acquisitions team

Notable Releases

House Style & Genre Focus

Paramount Pictures operates a slate built on action franchises (Mission: Impossible, Top Gun, Transformers), family animation (Sonic the Hedgehog, Paw Patrol), horror (Scream, A Quiet Place), and prestige dramas. The studio is known for practical stunt work and franchise management, with strong relationships with Tom Cruise, John Krasinski, and franchise creators. Following the August 2025 Paramount Skydance merger, the studio has increased output to 15 films in 2026.

Recent and upcoming productions include Mission: Impossible - The Final Reckoning (concluding the franchise), Sonic the Hedgehog 4, A Quiet Place Part III (2027), Top Gun 3 (in development), Street Fighter, and By Any Means (civil rights thriller). Paramount Animation handles animated projects, including The Angry Birds Movie 3. The studio's 65-acre Hollywood lot features 29 soundstages totaling 360,000+ square feet.

Paramount works with established franchise creators and talent. Submissions go through agents and managers. The studio is now part of Paramount Skydance Corporation after the August 2025 merger, and is in the process of merging with Warner Bros. Discovery by September 2026, which would create one of the largest combined studio operations in Hollywood. Paramount Players serves as the studio's genre and youth-focused label.

Watch: Trailers & Behind the Scenes

See Also

For understanding how major studio deal structures work, see Distribution Deals Explained. To model revenue across distribution windows, use the Revenue Forecast Calculator. For the studio's genre label, see the Paramount Players directory entry.