Paramount surpassed 77 million streaming subscribers in Q4, adding 10 million to Paramount+ alone to reach nearly 56 million customers for that platform.
In comparison, the paid streamer added 4.6 million subscribers in the third quarter, reaching nearly 67 million global direct-to-consumer customers overall for Paramount by the end of September.
During the fourth quarter, Paramount Global’s SVOD launched splashy Taylor Sheridan titles “1923,” yet another a prequel to his hit Paramount Network series “Yellowstone,” and the Sylvester Stallone-led “Tulsa King,” as well as the “Criminal Minds” revival “Criminal Minds: Evolution” and the streaming debut of “Top Gun: Maverick.”
Paramount revealed the sub growth in its Q4 earnings report Thursday, noting: “Subscriber growth was driven by a strong content slate, including the NFL, the expansion of existing franchises like ‘Top Gun: Maverick’ and ‘1923,’ the success of new franchises like ‘Tulsa King’ and ‘Smile,’ as well as CBS’s overall entertainment slate.” Internationally, Paramount says the top acquisition drivers for Paramount+ were “Maverick” and “Yellowstone.”
The streamer currently has partnership and distribution deals with Walmart, Delta, Sky, Canal+, Amazon and Roku that contribute to its overall subscriber tally.
Paramount’s ad-supported platform Pluto TV approached 79 million monthly active users (MAUs) worldwide in Q4, up from 72 million at the end of Q3.
Per Paramount, streaming revenue was up 30% overall year-over-year, with Paramount+ revenue jumping 81%. Sub revenue increased 48% and ad sales ticked up 4%.
“Paramount continues to demonstrate the success of its global multiplatform strategy, with popular content at its core,” president and CEO Bob Bakish said Wednesday. “Nowhere was this more evident than in the growth of Paramount+, which added a record 9.9 million subscribers in the fourth quarter, driven by hit content like Top Gun: Maverick, 1923 and Criminal Minds: Evolution. In addition, in 2022, Paramount Pictures had 6 films open at #1 in the U.S. box office and Paramount regained its position as the most-watched media family in linear television. Our content and platform strategy is working and, with even more exceptional content coming this year, we expect to return the company to earnings growth in 2024.”
