Paramount Aims for 30 Annual Theatrical Releases Amid Warner Bros. Merger

CEO David Ellison announced that Paramount intends to deliver 30 theatrical releases each year once its merger with Warner Bros. is completed. The target is presented as a benchmark for the combined studio’s output.

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Paramount’s Q1 earnings call highlighted ongoing negotiations with Warner Bros. The companies have already coordinated 15 releases each for the current calendar year, indicating operational integration. Ellison indicated an expectation to finalize the merger in September, though regulatory and financial hurdles remain unresolved.

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• Q1 earnings call: Paramount and Warner Bros. each released 15 films in theaters this year, totaling 30 releases.

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• Shareholder letter: 2026 theatrical revenue fell below 2025 levels, despite a slate that included *Mission: Impossible – The Final Reckoning* and *Regretting You*.

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• Upcoming 2024 titles: a Billie Eilish concert documentary, a new *Jackass* installment, and a *Street Fighter* adaptation.

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Ellison emphasized commitment to the 30-film goal, framing it as a signal to investors, audiences, and policymakers. He also expressed confidence that the September closing of the merger will enable the studio to sustain the expanded release schedule.

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Analysts note the challenge of sustaining 30 releases with a limited pool of intellectual property. Concerns are raised that the volume may dilute marketing resources and strain production pipelines, potentially affecting box-office performance.

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While Ellison projects a September merger closure, the company has not yet cleared all required regulatory and financial benchmarks. No detailed financial projections for the post-merger release slate have been disclosed, leaving uncertainty about profitability.

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If achieved, the 30-film schedule would position the merged entity as a dominant theatrical content provider, influencing market share, distribution negotiations, and the broader film-industry ecosystem. The strategy also signals confidence in theatrical exhibition despite recent revenue declines.

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• “30 theatrical releases” — David Ellison, referring to the post-merger target

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• “It doesn’t matter how much money Paramount loses on its less than successful film slate or subscribers suing its streaming service: CEO David Ellison is still committed to 30 theatrical releases annually once the merger with Warner Bros.” — Paramount earnings-call summary

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• “But that’s a huge amount of movies with a dwindling amount of IP out there.” — Commentary on the release strategy

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Paramount plans to release the Billie Eilish documentary, the next *Jackass* film, and the *Street Fighter* movie within the current year. The September merger decision will determine whether the 30-film annual schedule proceeds as outlined. Stakeholders will monitor regulatory approvals and the financial performance of the 2025-2026 theatrical slate.

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