The brand's current live activity includes the Paramount Comedy Festival in Brighton and a nationwide university tour called Paramount Comedy On Tap.
This year the brand was also involved in TV spin-off The World Stands Up.
Sledge's role will be to assess the development and positioning of these events. Paramount Comedy aims to portray the channel as the authority in stand-up.
Paramount Comedy's head of brand development, Claudia Sestini, said: "We decided to appoint a consultant with experience in the festival arena to scope the commercial and brand development potential of Paramount Comedy's off-air assets."