In a large pot of boiling water, blanch the spinach until softened, about 1 to 2 minutes. Immediately pour the spinach into a strainer and run cold water over the spinach until it is cooled.
Press and squeeze as much liquid out of the spinach as possible with a clean dish towel or paper towels. Roughly chop the spinach.
Melt butter in a medium pan over medium-low heat. Sauté shallot until soft, 3 to 5 minutes. Stir in paprika and cook until fragrant, about 30 seconds.
Add spinach, cream cheese, cream, salt and pepper and cook, stirring, until warmed through and slightly reduced, 5 to 7 minutes; add more cream if needed to reach desired consistency.
Top with shredded Parmesan cheese and broil in oven until browned and bubbly.
Serve with a sliced baguette.