https://finance.yahoo.com/news/paramount-grows-43-million-subscribers-134710004.html
Paramount+ grows to 43 million subscribers as other streaming services fall short
Lauren Forristal
Thu, August 4, 2022 at 9:47 AM
Paramount Global
reported this morning that its streaming service Paramount+ had a net add of 3.7 million subscribers to bring its global total to 43.3 million, up from
39.6 million last quarter. The total would have been 4.9 million subs if it had not been for the removal of 1.2 million Russian subscribers due to the country’s invasion of Ukraine.
CEO Bob Bakish has said that the company aims to reach
100 million Paramount+ subscribers by 2024. In the earnings call today, the company said it is “bullish about growth going forward.”
Across Paramount Global’s streaming services— Paramount +, Pluto TV, Showtime, Noggin, and BET+ -- the company nearly reached 64 million (63.7 million to be exact), up from more than 62.4 million as of the end of Q1 2022. This reflects a growth of 1.7 million. However, it would have been a growth of 5.2 million global streaming subscribers before the removal of 3.9 million subscribers in Russia.
Revenue grew 120% for Paramount+, as overall subscription revenue rose 74% year-over-year to $830 million.
The company said Pluto TV remains “the #1 free ad-supported streaming TV service in the U.S,” as it increased in global monthly active users to almost 70 million.