Paramount+ kept hiking up the streaming mountain in the second quarter as some rivals have stumbled.
In announcing Q2 earnings, Paramount Global said its flagship Paramount+ service now has 43.3 million paid customers, a net add of 4.9 million for the June quarter.
The company's other streaming services, however, declined. Total streaming subscribers globally reached nearly 64 million in the second quarter, a gain of less than 2 million. Paramount does not break out the number of subscribers for Showtime or its other direct-to-consumer services, which include BET+ and Noggin.
The total streaming figure included the removal of 3.9 million Russia subscribers; the Q2 Paramount+ sub number included the drop of 1.2 million accounts in Russia, after Paramount Global exited the country because of the invasion of Ukraine.
The pickup for Paramount+ comes as growth for other streamers has been flat or down. Netflix shed nearly 1 million subs in Q2 (though that was fewer than expected), while paid customers for NBCUniversal's Peacock was flat for the period at 13 million and Peacock's overall active accounts dropped by 1 million. Warner Bros. Discovery, which owns HBO Max and Discovery+, reports Q2 earnings Thursday after market close, and Disney is set to release results Aug. 10.
Amid the fiercely competitive streaming wars, Paramount has assumed an aggressive posture. In February, the company (formerly known as ViacomCBS) raised its global streaming subscriber target for 2024 from from 65 million-75 million subs to more than 100 million. At the same time, it plans to boost spending on streaming content to more than $6 billion by 2024, versus $4 billion previously — fueling investor concerns over rising costs that will eat into profitability.
variety.com
variety.com
In announcing Q2 earnings, Paramount Global said its flagship Paramount+ service now has 43.3 million paid customers, a net add of 4.9 million for the June quarter.
The company's other streaming services, however, declined. Total streaming subscribers globally reached nearly 64 million in the second quarter, a gain of less than 2 million. Paramount does not break out the number of subscribers for Showtime or its other direct-to-consumer services, which include BET+ and Noggin.
The total streaming figure included the removal of 3.9 million Russia subscribers; the Q2 Paramount+ sub number included the drop of 1.2 million accounts in Russia, after Paramount Global exited the country because of the invasion of Ukraine.
The pickup for Paramount+ comes as growth for other streamers has been flat or down. Netflix shed nearly 1 million subs in Q2 (though that was fewer than expected), while paid customers for NBCUniversal's Peacock was flat for the period at 13 million and Peacock's overall active accounts dropped by 1 million. Warner Bros. Discovery, which owns HBO Max and Discovery+, reports Q2 earnings Thursday after market close, and Disney is set to release results Aug. 10.
Amid the fiercely competitive streaming wars, Paramount has assumed an aggressive posture. In February, the company (formerly known as ViacomCBS) raised its global streaming subscriber target for 2024 from from 65 million-75 million subs to more than 100 million. At the same time, it plans to boost spending on streaming content to more than $6 billion by 2024, versus $4 billion previously — fueling investor concerns over rising costs that will eat into profitability.
Paramount+ Tops 43 Million Subscribers in Q2, Adding 3.7 Million in Quarter
Paramount Global's Paramount+ kept hiking up the streaming mountain in Q2 2022 as some rivals have stumbled.
variety.com
Streaming Investment Spurs Profit Drop in Paramount Global Q2
Paramount Global's continuing investment in streaming offset revenue gains in the company's second quarter
variety.com
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