Paramount Skydance PSKY Lays Out Plans for Future Growth, Including Layoffs and Increased Theatrical Releases

Paramount Skydance plans to lay off employees, save money, and focus on releasing more movies in theaters annually, with 15 movies planned for this year and 20 in the future. The company will not release big movies on its Paramount+ streaming platform, and has set restoring Paramount as the top studio for filmmakers and talent as a priority. Top Gun 3 and a Star Trek movie are top priorities.

Paramount Skydance, under new leadership, is planning significant cost-cutting measures and a renewed focus on theatrical film releases. The company aims to reduce expenses by $2 billion, with a particular emphasis on layoffs. According to a press conference held in Los Angeles on Wednesday, July 13, 2025, the company plans to release 15 movies in theaters this year, with a target of 20 movies annually in the future [1].

David Ellison, the CEO of Paramount Skydance, has outlined a strategy to prioritize theatrical releases, stating that big movies will not be released on Paramount+ streaming platform. The company aims to restore its status as the top studio for filmmakers and talent, with top priorities including the third installment of the Top Gun series and a new Star Trek movie [1].

Ellison has appointed Dana Goldberg and Josh Greenstein to run the movie studio, with Goldberg previously serving as Skydance’s chief creative officer and Greenstein as the former president of Sony’s motion picture group. The new leadership team plans to focus on a mix of original films and franchise features [1].

The company has also announced that it will sell the National Amusements movie theaters acquired as part of the deal, with investment banks handling the divestment process. The Ellison-led group aims to increase revenue from online sales and rentals, boost production, and count on Greenstein’s experience to improve earnings [1].

The cost-cutting measures come after the company's recent high-stakes investments and the acquisition by Ellison’s Skydance Media. Industry observers note that while the cuts will be significant, they are necessary to stabilize the company’s financial position [3].

References:
[1] https://www.businesstimes.com.sg/lifestyle/paramount-boost-film-releases-top-gun-3-priority
[2] https://variety.com/2025/tv/news/mario-gabelli-lawsuit-shari-redstone-paramount-skydance-merger-national-amusements-inc-1236488742/
[3] https://cordcuttersnews.com/paramount-braces-for-massive-layoffs-as-new-leadership-targets-2-billion-in-savings/