Paramount+ Surpasses 61M Subscribers Following Showtime Merger
Paramount’s streaming service, Paramount+, is continuing to see a surge in subscriber numbers. It has recently surpassed the impressive milestone of 61M subscribers. This significant increase in subscribers can be directly attributed to a strategic collaboration with Showtime, where they introduced a new way for people to subscribe.
This innovative approach brought in approximately 700,000 new subscribers during the second quarter of 2023. The uptick in subscribers highlights the growing popularity and appeal of what Paramount offers in entertainment.
Source: Paramount
Paramount+ is actively refining its subscription options to suit the preferences of its audience better. They’ve introduced a new subscription plan available for $11.99 per month. This newly integrated subscription plan has replaced the previous premium ad-free option, which used to cost $9.99 monthly.
Paramount has also adjusted the pricing for its Essential ad-supported plan in a dual move. Formerly priced at $4.99, this plan now costs $5.99 monthly. This strategic shift in subscription options allows viewers to choose the plan that aligns best with their viewing needs and financial considerations.
Paramount Global reported a total revenue of $1.67 billion for its direct-to-consumer service, with streaming contributing $1.23 billion and advertising fetching over $400 million.
An interesting trend has emerged, showcasing a significant increase in the combined viewing hours on Paramount+ and Pluto TV, the free TV service with advertisements. This collective viewing time has surged by an impressive 35% globally. This notable spike in viewer engagement underscores the allure of the content available on these platforms. It also signifies the growing importance of streaming services in shaping modern entertainment consumption habits. This trend further solidifies Paramount’s role as a key player in shaping the digital entertainment landscape.
